Trading and market access technology specialist Vela has partnered with CoinMarketCap to add cryptocurrency data to its market data feed.
The move will see Vela’s institutional client base gain access to a list of more than 1,800 cryptocurrency coins and tokens supported by data from CoinMarketCap.
The cryptocurrency data provider’s application interface programme (API) will be integrated with Vela’s streaming market data feed, known as SuperFeed, for broker-dealers, banks and other institutions to have cryptocurrency data alongside their traditional market data sources.
“With crypto being one of the biggest disruptors in our space today, this agreement fortifies Vela’s entry into this innovative digital currency sector. We look forward to working with CoinMarketCap to deliver their world-leading cryptocurrency data to our institutional audience,” said Jen Nayar, CEO at Vela.
Vela’s SuperFeed provides users with low-latency data without the need for any client infrastructure. It currently covers more than 100 markets across all major European markets and a growing range of Asian venues.
Brandon Chez, founder of CoinMarketCap, added that together, both firms are able to extend their reach to major banks and broker-dealers so that firms can access cryptocurrency data with them directly.
Vela recently expanded its executive team with the addition of New York Stock Exchange veteran Peggy Sullivan as its new chief of staff. Sullivan has served as a consultant for Vela since October 2017, and will take up the role in New York overseeing the firm’s partnerships, advising on market structure developments and building relationships with key accounts.