SIX will provide digital asset data to its clients via the same delivery channels as its leading reference, pricing, corporate actions, regulatory, tax and ESG data.
SIX has made CryptoCompare’s cryptocurrency data available for its broad customer base as part of its efforts to further strengthen their activities in digital asset markets.
The integration of CryptoCompare’s data feed extends SIX’s coverage to more than 85% of all cryptocurrency market activities worldwide.
CryptoCompare is a UK-based digital asset market data provider that aggregates data from over 300 venues globally and boasts a broad coverage of reference and pricing data for cryptocurrency and fiat-based trading pairs.
The key third-party cryptocurrency data provider has now been onboarded to SIX’s distribution channels.
Pricing, order book, and crypto derivatives data
SIX now provides real-time and historical pricing data, order book and crypto derivatives data built on CryptoCompare’s proprietary aggregate pricing methodology.
The aggregate pricing methodology is based on a 24-hour volume-weighted average calculation, time-penalty factor and outlier methodology to show the best price estimation for cryptocurrency traders and investors to value their portfolio at any time.
The integration of CryptoCompare’s crypto feed comes in good timing as regulatory bodies are placing digital assets under greater scrutiny to protect investors and ensure transparency in these markets. EU’s regulator ESMA has recently introduced the Markets in Crypto-assets (MiCA) Regulation.
CryptoCompare’s vast coverage of cryptocurrency markets and ease of integration through a single API source were two important factors that led to the integration which will enable SIX to provide digital asset data via the same delivery channels as its leading reference, pricing, corporate actions, regulatory, tax and ESG data.
Helping clients realize opportunities and manage risks in crypto markets
Berta Ares Lomban, Head Digital Assets Financial Information at SIX, said: “Through this collaboration with CryptoCompare, we are helping our customers navigate the digital assets markets. Our clients will be able to access the information they need to realize the opportunities and manage the risks in cryptocurrency markets, as well as comply with emerging regulations, through a trusted and reliable data partner.”
Charles Hayter, CEO and Co-Founder of CryptoCompare, commented: “CryptoCompare is delighted to work with SIX to provide its clients with high-quality and wide-ranging digital asset data, built upon our market-leading methodologies that safeguard data integrity. We look forward to advancing our relationship with SIX, assisting as the company explores new opportunities to meet the growing appetite of their clients for digital assets exposure .”
