Tullett Prebon Information (TPI), a leading provider of independent real-time price information from the global OTC financial and commodity markets, has signed a deal with Brave New Coin (BNC) to distribute its digital currency data.
This is the first time such a comprehensive view of the entire digital currency landscape has been made available to financial markets. The data gives TPI customers unparalleled transparency on intraday pricing from more than 50 digital currencies – including Bitcoin, Ethereum and Ripples – as well as traded rates against a variety of traditional currencies.
The agreement allows TPI to distribute BNC’s consolidated exchange feed, including the Bitcoin Liquid Index (BLX), to their entire customer base. This represents the bulk of the exchange traded liquidity for digital instruments, at a time when daily volumes for the entire digital currency marketplace frequently top US$500 million.
Commenting on the deal, Fran Strajnar, CEO at BNC, said, “A new asset class has arisen and its exponential growth is proving attractive. We are thrilled to be partnering with TPI, leaders in global market information, who recognise the importance of transparency across all asset classes, old and new.”
Commenting further, Andrew Reeve, Head of Asia Pacific, Middle East and Africa at Tullett Prebon Information, added, “We are starting to see more acceptance of crypto-currencies, with companies such as Microsoft and Amazon accepting them as payment and we know our customers want to see a consolidated view of the market. We are excited to be working with BNC to provide much needed transparency, especially in light of current market volatility. This underlines our ability to stay ahead of the pack, providing intelligence on the markets of the future, now.”
BNC’s proprietary BLX is the best available index for real-time settlement and historic prices. It is created using the most liquid exchanges, adding and removing exchanges over time as their trading and trust levels qualify for entry.
The BNC-BLX methodology was developed by quantitative analysts to provide an index that reflects the bulk of legitimate global volumes, sourced from the biggest markets including CNY, USD and EUR bitcoin trading activity. The extensive real-time data screening and indexing methodology is designed to respond to sudden market movements while flagging outlier trades or market manipulation attempts on the index itself.