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Nasdaq launches BNC's Bitcoin and Ethereum liquidity indices on its platform

Tue, 26 Feb 2019, 12:23 pm UTC

Nasdaq has started its listing of Brave New Coin's Bitcoin and Ethereum Liquidity Indexes (BLX and ELX) on its platform on February 25.

Cointelegraph reported earlier this month that Nasdaq was going to launch the two indices on its platform.

“Effective Monday, February 25, 2019, Nasdaq, through its data dissemination relationship with Brave New Coin, will send real-time Bitcoin and Ethereum index level information on the Nasdaq Global Index Data Service (GIDS),” Nasdaq said.

In an online post, Brave New Coin explained that the 'Liquid Index' (LX) indices are “part qualitative and part quantitative, factoring in the stability and quality of constituency as well as the volume, book depth, tick size and other factors from the qualified market participants, to calculate a fair global value for the price of Bitcoin and Ethereum, expressed in USD, every 30 seconds.”

“The LX program was born out of a need for clear and transparent price discovery of liquid cryptographic assets and is a bigger need today then it was back in 2015 when we started this program”, said Fran Strajnar, CEO of BNC.

BNC further announced that it is nearing the launch of “RLX” (Ripple Liquid Index) and is working with a range of market participants to create custom basket indices.

Recently, Coinbase announced that it is adding support for Ripple’s XRP token on Coinbase Pro.

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