Deutsche Börse, a Germany-based stock exchange organization, says it has entered into a cooperation with Kaiko, a crypto market data provider, to meet the high demand for cryptocurrency market data from its clients.
Through the partnership, which the exchange disclosed on Tuesday, the Deutsche Börse Market Data and Services will make consolidated crypto data feed directly accessible to its customers.
The Deutsche Börse Market Data and Services provides proprietary market data from Deutsche Börse Group’s Xetra and Eurex trading platforms to the exchange’s partners and financial market participants around the world.
Under the partnership, Deutsche Börse said its new data offering will include real-time and historical tick level data for all crypto exchanges and digital assets covered by Kaiko.
These data will undergo quality review by Deutsche Börse, the company said.
The German stock exchange, which recently saw a 24% jump in its first quarter revenue for 2022, explained that it is seeking to expand its product offerings with the new offering.
In addition, it wants to drive transparency throughout the digital asset industry with the product.
Additionally, Deutsche Börse says it will provide live trade data as well as historical Level 2 (L2) tick-level trading plus 1 day-based (T+1) orderbook data to its distribution network by the fourth quarter (Q4) of this year.
This, it added, will be followed up with the introduction of historical T+1-based orderbook data from selected digital asset exchanges.
Alireza Dorfard, the Head of Market Data and Services at Deutsche Börse explained that the new offering will enable the exchange’s clients to gain a deeper understanding of the cryptocurrency market as well as analyse specific events.
“The crypto market faces high volatility and price fluctuations. Therefore, many of our clients have a high demand for consolidated data from centralised as well as decentralised exchanges to develop useful crypto investment strategies,” Dorfard said.
Dorfard noted Kaiko’s extensive catalogue of data types makes it the right partner for the undertaking.
For her part, Ambre Soubiran, the CEO of Kaiko, pointed out that established institutions like Deutsche Börse are essential in making cryptocurrency market data accessible to financial institutions.
Moreover, Soubiran noted that Kaiko was looking forward to reinforcing the partnership in the future as the demand for digital asset data grows.
“Established institutions like Deutsche Börse are essential in making cryptocurrency market data accessible to financial institutions,” she said.
More on Kaiko
According to Deutsche Börse, Kaiko collects tick-level trade data from over 100 centralised exchanges (CEXs) and decentralised exchanges (DEXs) for both spot and derivatives markets.
On top of that, the market data provider continuously adds new exchanges and new assets to its portfolio, it said.
“Kaiko covers about 96 per cent of the tick-level trading data from various DEXs and includes a majority of blockchain protocols such as Ethereum or Avalanche,” Deutsche Börse explained.
“The tick-level trading data collected from CEXs comprises more than 150,000 instruments for spot and derivatives markets,” the German stock exchange added.
Meanwhile, Deutsche Börse generated a turnover of €161.6 billion in May as opposed to €157.6 billion generated in the same month in 2021.
The May turnover was an approximate 3% increase month-on-month (MoM) for the marketplace organizer.
