US exchange operator Nasdaq has teamed up with CryptoCompare to launch a cryptocurrency pricing product which will be made available through its data platform.
Known as the Nasdaq/CryptoCompare Aggregate Crypto Reference Prices, the data feed will allow institutional investors to monitor market movements based on CryptoCompare’s aggregate index datasets for minute-by-minute pricing data for the most liquid cryptocurrencies.
Nasdaq said that the partnership with CryptoCompare and new data will help improve institutional capabilities in trading, quantitative research, risk modelling and NAV calculations across crypto markets.
“Reliable data is the bedrock of transparent, liquid markets and by bringing our high quality, granular dataset to a global institutional client base, via the Quandl platform, we will give traders and investors a competitive edge,” said Charles Hayter, co-founder and CEO of CryptoCompare.
CryptoCompare claims that its datasets, including trade, order book, historical data since 2013, social and blockchain data, are some of the most granular in the industry. The firm aggregates and analyses tick data from more than 150 exchanges.
Nasdaq acquired Toronto-based alternative data specialist Quandl in December after looking to expand its technology and analytics business. The exchange group combined Quandl with its Analytics Hub but the company has retained its brand name, location and management, and become part of Nasdaq’s Global Information Services business.