Tullett Prebon Information (TPI), a provider of real-time price information from the global OTC financial and commodity markets, has signed an agreement 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, TPI announced in a prepared statement.
The data gives TPI customers unparalleled transparency on intraday pricing from more than 50 digital currencies – including bitcoin, Ethereum and Ripple – 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 $500 million.
“A new asset class has arisen and its exponential growth is proving attractive,” said Fran Strajnar, CEO at BNC. “We are thrilled to be partnering with TPI, leaders in global market information, who recognize the importance of transparency across all asset classes, old and new.”
Andrew Reeve, head of Asia-Pacific, Middle East and Africa at TPI, added, “We are starting to see more acceptance of cryptocurrencies, 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,” Reeve added. “This underlines our ability to stay ahead of the pack, providing intelligence on the markets of the future, now.”
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BNC’s proprietary BLX provides an 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 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.
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