Lukka & IHS Markit to Provide Institutional Quality Crypto Asset Data to the Financial Industry
- Cryptocurrencies , Data
- 19.11.2020 09:26 am
Lukka, the leading crypto asset software and data provider, has partnered with global business information provider IHS Markit to redistribute Lukka’s institutional-grade blockchain and digital asset data products, including Lukka Prime and Lukka Reference Data, as part of the comprehensive IHS Markit Pricing, Valuations and Reference Data offerings. This will enable funds to add cryptocurrencies and other digital assets to their portfolios in compliance with regulatory guidance.
Lukka’s software and data solutions transform complex blockchain data into the easy-to-use information to support normal business operations. Built with true institutional-quality standards, Lukka was the first and currently only middle and back office digital asset provider to receive AICPA SOC 1 Type 2 and SOC 2 Type 2 certifications.
“As traditional funds and businesses add crypto assets to their portfolios and balance sheets, they look to already trusted service providers, such as IHS Markit to offer equivalent services,” said Robert Materazzi, CEO of Lukka. “We are seeing the adoption of these assets accelerate weekly as indicated by announcements such as those from The Office of the Comptroller of the Currency (OCC), which granted nationally chartered banks the authority to custody cryptocurrency. Crypto is here. Any business only talking about it in innovation labs is going to miss enormous opportunities. However, with 11 years of little oversight and standard setters involved, aspects like data quality are vital to be included as part of vendor selection.This is the focus of our partnership with IHS Markit: offer institutional quality data services to the world as it adopts crypto.”
Tasha Gonska, Head of Americas Business Development for IHS Markit Pricing, Valuations and Reference Data, said: “Our partnership with Lukka will deliver financial institutions seamless access to a best-of-breed solution for Fair Market Value pricing on cryptocurrencies and other digital assets. As the demand for these innovative holdings continues to grow, this collaboration expands the strength of our comprehensive and industry-leading valuations expertise, while bringing financial markets additional transparency on complex and dynamic assets.”
Lukka Prime is a proprietary pricing methodology and the world’s first Fair Market Value (FMV)-based pricing service for digital assets. Prime can be used to directly address the SEC’s recent guidance regarding fund valuation, specifically, the use of executed prices instead of volume weighted average prices (VWAPs). Lukka Prime can also serve as an independent pricing source that the SEC guidance requires to serve as a check on pricing data that may be offered or used by fund managers.
Lukka Reference Data is a comprehensive collection of over 6,000 digital assets, over 27,000 digital asset derivative ticker symbols, plus tens of thousands of trading pairs symbols and other reference data across the ecosystem. The distributed nature of digital assets often creates data consistency issues which can become a barrier to entry for companies. Lukka offers a standardized identification, the Lukka ID (LID), equivalent to ISINs or CUSIPs in the traditional ecosystem and can be used to populate internal security masters.
IHS Markit Pricing, Valuations and Reference Data enables firms to optimize trades and mitigate risk through independent evaluated pricing in fixed income, credit and derivatives markets, including bonds, leveraged loans, CLOs and hard-to-value illiquid securities. Its innovative technology is complemented by transparent methodologies, flexible delivery services and a global team of professionals with cross-asset expertise.