CryptoCompare and BitMEX Partner to Provide Institutional Investors Cryptocurrency Futures Data

CryptoCompare, a leading cryptocurrency market data provider, has recently partnered with derivatives exchange BitMEX to provide professional investors on the Refinitiv Eikon terminal with a real-time cryptocurrency futures dataset.

According to a press release shared with CryptoGlobe, the partnership will see BitMEX’s dataset delivered to Refinitiv, one of the largest financial market data providers, via CryptoCompare’s contributors conduit, and will be ultimately integrated into Refinitiv’s Eikon terminal.

BitMEX is notably a leading cryptocurrency futures trading platform, that achieved a new all-time high in trading volume earlier this year, registering $10 billion in a single day. The exchanges trading volume went up despite overall volume in the market dropping earlier this year.

Commenting on the new partnership, BitMEX’s CEO Arthur Hayes stated:

When it comes to investing, good decision-making depends on access to solid data insights.  We are pleased to deliver a new wealth of data on cryptocurrency futures for institutional investors that can contribute to their overall confidence throughout their decision-making process.

Per the press release, CryptoCompare has a long-standing partnership with Refinitiv, offering exchanges and information providers a “seamless way to contribute data to Refinitiv” that doesn’t involve time-consuming integration or other costly processes.

Charles Hayter, the CEO of CryptoCompare, noted the firm is looking forward to bringing a “real-time, high-quality dataset to professional investors on the Refinitiv Eikon terminal.” Hayter added the partnership will “increase transparency and confidence” in the cryptocurrency markets, which could in turn attract more institutional investors.

OKEx Was the Top Crypto Derivatives Exchange in September, Report Shows

Leading cryptocurrency exchange OKEx was the top crypto derivatives exchange in the month of September, trading a total of $90.3 billion in total. Huobi followed suit, trading $84 billion.

According to CryptoCompare’s September 2019 Exchange Review, the crypto trading platform represented 33.7% of the daily derivatives volumes, trading $3.08 billion per day. Behind OKEx was Huobi with $2.82 billion traded a day, followed by BitMEX’s $1.88 billion.

Cryptocurrency exchanges like Deribit and CryptoFacilities, which is FCA-regulated, represented only $334 million and $74 million a day, respectively.

Top derivatives exchangesSource: CryptoCompare Exchange Review

The report notes that the most traded derivatives product by trading volume was BitMEX’s perpetual BTC futures contract, as its total trading volume for the month was of $41.7 billion. Other top traded products were BTC futures contracts expiring on September 27, with Huobi’s contract seeing $23.3 billion traded, while OKEx saw $17.4 billion traded.

OKEx’s lead when it comes to cryptocurrency derivatives was likely derived by its offering. The cryptocurrency exchange has various futures contracts being offered on its website – not just for BTC but for other top cryptocurrencies like BCH, BSV, EOS, XRP, and TRX.

Similarly the cryptocurrency exchange, which earlier this year announced it’s working on developing global compliance standards for cryptocurrency exchanges through a Self-Regulated Organization (SRO), offers perpetual swaps for these cryptos.

As CryptoGlobe reported, CryptoCompare’s report for August found similar results when it came to OKEx. Despite a market-wide drop in terms of derivatives trading volumes, the cryptocurrency exchange managed to capture over one-third of the market in August.

CryptoCompare’s September 2019 Exchange Review also found that lower-rated cryptocurrency exchanges – according to its Exchange Benchmark Ratings – have been gaining market share in terms of spot volumes.

Per the report, exchanges with an “E” rating represented a total trading volume of $179 billion in September, after seeing an increase of over 30% from the prior month. Exchanges like OKEx, which is A-rated, represented a smaller piece of the pie, with only 14.3% of the market share.