Cboe Global Markets is now joining the race to live the cryptocurrency pricing mainstream.
The exchange owner will launch a set of tools later in 2021 within a licensing collaboration with execution provider CoinRoutes. Cryptocurrency indexes, historical data, and real-time ticks are all on the table, added Catherine Clay, Cboe’s information solutions chief.
The deal makes Cboe, which operates the leading options exchange within the United States, the newest financial force to enter the cryptocurrency ecosystem It’s been a busy December, with service providers looking to stay up with institutions going long on Bitcoin [BTC, +2.08%]. For instance, S&P unveiled its cryptocurrency index plans on 3rd Dec. and one week later announced a stake in Lukka, the firm facilitating the products.
Clay added that Cboe will initially specialize in offering data for “just a handful” of crypto assets with high market caps – likely 10 or fewer top trading pairs to start out. For instance, Bitcoin [BTC] and Ethereum [ETH, +1.34%] traded against the USD.
The rollout will be available in three phases, she explained. Cboe’s data shop will backfill historical price data in Q1 2021. It’ll then begin distributing real-time price data to clients. Once these two “foundational pieces” form, Clay said Cboe’s “index team can get busy.”
“I would guess that in Q2, you’ll start to ascertain actual indices come from this data via our Cboe global index team,” Clay explained.