On January 17, CCData, an FCA-authorized benchmark administrator and a leader in digital asset data and index solutions, announced the launch of its Digital Asset (DA) Fixings Benchmark Family. This new offering aims to transform digital asset trading by providing an end-of-day reference price for digital assets, tailored to meet the specific needs of institutional stakeholders.
The DA Fixings Benchmark Family is based on CCData’s FCA-regulated CCIX benchmark (formerly CCCAGG). CCData has evaluated over 200 centralized and decentralized cryptocurrency exchanges globally to develop this benchmark. The methodology includes a 24-hour volume-weighted average, a time penalty factor, and an outlier detection system, ensuring a robust and representative end-of-day reference price.
This groundbreaking service is designed to cater to the nuanced requirements of institutional players in the digital asset market. It offers standard price fixings across key global markets, including London, New York, and Hong Kong, providing traders and investors with a reliable and market-representative price for valuing their portfolios.
For the launch of DA Fixings, CCData has partnered with Ultumus, a subsidiary of SIX Group and a leader in the traditional and cryptocurrency ETF and index trading ecosystem. Ultumus will be the first to integrate DA Fixings into its platform, enabling clients to access and license CCData’s DA Fixings through its ETF/Index feeds and the COSMOS ETF Create/Redeem platform.
Ultumus, serving eight of the top ten global investment banks and ETF issuers, is renowned for its comprehensive ETF calculation services. It supports a broad range of leading issuers, including Global X, HSBC, 21Shares, VanEck, CoinShares, and Virtune.
Charles Hayter, CEO and Co-Founder of CCData, highlighted the significance of the DA Fixings launch, noting its role in introducing an innovative digital asset valuation standard for institutional markets. Bernie Thurston, CEO of Ultumus, emphasized the importance of providing managed ETF and Index data services for institutions in both traditional and crypto markets.
Featured Image via Pixabay