Thomson Reuters Follows Cryptocurrency with Real-Time Rates Tracker

Thomson Reuters is launching a price data feed for virtual currencies, ‎dubbed “Cryptocurrency Real Time Rates,” building on the success of similar ‎benchmarks that leverage price data from a suite of crypto exchanges.‎

The new product provides institutional-grade resources and real-time ‎information for those trading in cryptocurrency markets through a ‎standardized reference rate and spot price index.‎

The launch of the new service, which will be accessible through a ‎customized API on its flagship platform Eikon, signals Thomson ‎Reuters’ growing commitment to the nascent space. It also comes ‎at the time when mainstream interest in Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term is ‎skyrocketing.‎

A recent Thomson Reuters study showed that 20 percent of 400 finance firms surveyed are considering getting into cryptocurrency trading within the next 12 months.

Several cryptocurrency exchanges and trading platforms will provide pricing data for six ‎coins, including bitFlyer and BITPoint, with more exchanges to be added over time.

The launch of the Cryptocurrency Real Time Rates could be a sign ‎that Reuters is considering embracing the digital asset class on ‎its trading platforms. ‎

The release comes on the heel of the announcement from CME Group ‎earlier today about the launch of a daily price benchmark for ‎Ethereum, in partnership with cryptocurrency Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term ‎Crypto Facilities.‎

Commenting on the news, Michael Go, Head of FX Market ‎Development - Asia Pacific at Thomson Reuters, said, “The immense ‎growth in the cryptocurrency market in the last decade highlights the ‎strong momentum around this new technology and tradable asset ‎class. Thomson Reuters Cryptocurrency Real Time Rates enhances ‎our rate offering and helps create a transparent and efficient global ‎marketplace, vital to the future stability of cryptocurrency trading to ‎support the investor.”‎

‎ Yuzo Kano, CEO and co-founder of bitFlyer, added: ‎‎“As the world’s largest Cryptocurrency exchange, bitFlyer has made ‎efforts to facilitate the development of cryptocurrency markets. We are ‎the first company to obtain a license to trade cryptocurrencies in ‎Japan, the US and Europe and we are delighted to be able to provide ‎valuable data to customers worldwide through Thomson Reuters.”‎