Six Launches Crypto Reference Rates
Posted by Colin Lambert. Last updated: February 1, 2024
Exchange and data group Six has launched new reference rates and real-time crypto indices – they will be used as benchmarks by the AsiaNext crypto derivatives trading platform, and via SIX data feeds for investors.
The new indices provide a snapshot of the market and its performance in bitcoin (BTC) and ethereum (ETH). Built on a transparent rules-based methodology, Six says the indices foster clarity and consistency by sourcing data from multiple exchanges, adding they enable precise pricing, valuation and performance tracking, which support nuanced analysis and strategic decision making within the crypto market. The indices provide the benchmark price in USD on an hourly basis, while the Real-Time Indices will be published every second.
AsiaNext was founded by Six with SBI Digital Asset Holdings. The firm says the partnership between AsiaNext and Six bridges the traditional financial industry and the crypto ecosystem.
“The introduction of these BTC and ETH Indices underlines our dedication to delivering sophisticated and well-tailored solutions for very specific use-cases, such as crypto derivatives trading,” says Dr. Christian Bahr, head index services, financial information, Six. “I am confident that these benchmarks will serve as an indispensable tool for AsiaNext and foster the creation of an ecosystem between derivative exchanges and institutional investors.”
Sudeep Chatterjee, head of product at AsiaNext adds, “We are pleased to partner with SIX for an industry benchmark for the crypto market that underscores our commitment to providing institutional clients with robust crypto derivatives trading including standardised performance evaluation and timely risk management to help them make more informed investment decisions and meet regulatory requirements.”