BNC’s Bitcoin And Ethereum Liquidity Indices Now Live On Nasdaq

Announcements, News | February 27, 2019 By:

Crypto analysis website Brave New Coin (BNC) has announced that its crypto indices are now live on Nasdaq.

Earlier this month, exchange operator Nasdaq said that it wiil add Brave New Coin’s Bitcoin Liquid Index (BLX) and the Ethereum Liquid Index (ELX) to the Nasdaq Global Index Data Service, the exchange operator’s data suite of 4,000 indices, on February 25. At the time, Nasdaq said that the move was part of its mission to bring transparency to crypto trading and open up the sector to a wider audience.

The crypto indices represent a spot rate for the most liquid end of the bitcoin and ethereum markets and have been calculated since 2010 (BLX) and 2015 (ELX) with zero downtime. BNC claims that both crypto indices offer a robust reference rate and settlement price for any derivatives or complex products.

“BNC’s ‘Liquid Index’ (LX) indices are part qualitative and part quantitative, factoring in the stability and quality of constituency as well as the volume, book depth, tick size and other factors from the qualified market participants, to calculate a fair global value for the price of Bitcoin and Ethereum, expressed in USD, every 30 seconds,” BNC said. “The methodology adds to the transparency of pricing crypto assets, a concern that has prevented regulators in approving retail products.”

BNC also announced that it will be releasing a Ripple-based crypto index, and is working with a range of market participants to create custom basket indices.

“The LX program was born out of a need for clear and transparent price discovery of liquid cryptographic assets and is a bigger need today then it was back in 2015 when we started this program”, said Fran Strajnar, CEO of BNC.