Crypto derivatives exchange BitMEX has announced that it will be altering the weight of its indices, giving Huobi a significant boost. 

According to a release published Nov. 1, BitMEX will update its indices on Nov. 22  across all products in an effort to ensure the reference prices for clients better reflects the market consensus. 

This will allow you to trade against data which is better optimised for fairness, robustness and accuracy.

BitMEX says it will calculate index weights based upon observed trading volumes across a “broader set of index constituent exchanges.” By re-weighing the indices, BitMEX hopes to reduce the impact of movements from a single exchange that acts contrary to market consensus. 

In an effort to smooth the transition, BitMEX is also launching BitMEX “NEXT” in the coming days, which will run alongside the current index price reflecting what it would be post-Nov. 22. Investors will be able to get a feel for the weight of the new update before the algorithm is officially re-tooled. 

Huobi, which previously did not have representation in BitMEX’s index, will now hold a significant role in the calculation of prices. 

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