Solactive Powers CoinMarketCap's Crypto 200 Index Listed on Major Data Feeds

Ricardo Esteves

Ricardo Esteves has seen business and economics through many lenses. He joined the Financial Services Industry in 2009, and has been a financial journalist since 2011. He holds a degree in Business Administration and has experience producing real-time news, from both buy-side and sell-side, as well as for retail traders, brokers and service providers. Esteves' work has appeared in a variety of online publications including FX Street and FinanceFeeds.

Solactive

Solactive Powers CoinMarketCap’s Crypto 200 Index Listed on Major Data Feeds

March 21, 2019
CoinMarketCap
CoinMarketCap

CoinMarketCap, the leading platform for the cryptocurrency market capitalization rankings and charts, has partnered with German index provider Solactive to create new Cryptocurrency Benchmark Indices, labeled: CMC Crypto 200 Index. The indices were launched on financial data feeds of Nasdaq Global Index Data Service (GIDS), Bloomberg Terminal, Thomson Reuters Eikon (Refinitiv) and Germany’s Börse Stuttgart.

Both indices are cover 200 cryptocurrencies, but one index includes the top cryptocurrencies by market capitalization, and the other one excludes the most prominent cryptocurrency Bitcoin (BTC), which currently dominates 50.8 percent of the market. The top 200 cryptocurrencies make up for more than 90% of global crypto market capitalization. The ex-BTC version of the index was created to display the general market conditions while avoiding market bias. The indices are weighted according to market capitalization and are rebalanced quarterly.

Brandon Chez, CEO of CoinMarketCap, said:

“We are excited to launch and share these indices with the market. These indices will promote greater accessibility to cryptocurrency data in an easier-to-digest format. In partnership with Solactive, our chosen index administrator, we hope these professionally-calculated indices will serve to expand the reach of cryptocurrencies into the larger financial markets.”

Fabian Colin, Head of Sales at Solactive, commented:

solactive
Fabian Colin, Head of Sales at Solactive

“The ability to access CoinMarketCap data gives us the opportunity to develop custom indices for new clients. Conversations already started.

We are looking forward to developing more crypto indices in the future, which, at the second step, optimistically speaking result in investable indices and might lead to further products. We are very proud to be chosen as CMC’s index provider of choice in this exciting journey.”

The indices were developed in collaboration with Solactive, which used CMC’s data for index calculation. The direct access to CMC’s crypto market data allows Solactive to provide tailormade index solutions to its clients going forward.

In November 2018, Vela Trading partnered with CoinMarketCap in order to add coverage of cryptocurrencies for its Market Data Feed service, SuperFeed. Its institutional client base now gets access to over 1800 coins and tokens.
In May 2018, Bloomberg had announced the launch of the BGCI, an index designed to track the performance of the largest, most liquid portion of the cryptocurrency market, measuring the performance of the top ten USD-traded cryptocurrencies, including Bitcoin, Ethereum, Monero, Ripple, and Zcash.

Chicago-based proprietary trading firm Hehmeyer Trading + Investments announced in March the launch of its cryptocurrency index fund. The service provides access to the cryptocurrency market by investing in a fund that aims to track the performance of the proprietary Hehmeyer Cryptocurrency Index (HCI).

In November 2018, SIX Group opened its doors to the Amun ETP, the world’s first crypto index ETP listed on a regulated stock exchange.

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