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trueDigital and Crux Informatics Partner on Crypto Reference Rates
Traders Magazine Online News, September 6, 2019
trueDigital has announced its newest partnership with data specialists Crux Informatics (“Crux”), a secure cloud-based platform and managed service that provides data delivery and operations at scale.
Through this partnership, trueDigital OTC cryptocurrency reference rates will be available to its institutional customers. Our indices will provide the crypto community with institutional grade pricing for Bitcoin and Ethereum, sourced from 12 leading OTC market makers. Together, trueDigital and Crux will vastly simplify the way institutions can achieve true price discovery in an opaque market.
Governed by IOSCO principals, these reference rates are the first of their kind and were designed for reliability and transparency. Market participants looking to better understand the price of BTC and/or ETH in institutional size can use them as an input to their trading systems, internal fair value calculations or net asset value calculations. With most large BTC or ETH transacting in the OTC market, indices based on retail pricing alone have been found to be less accurate and are potentially prone to manipulation, ‘flash crashes’ and excessive volatility.
This partnership provides trueDigital with a scalable alternative for institutions to access our products and services, fitting seamlessly into their workflow and technology solutions. Crux’s current and future customers are logical consumers of our offerings, and often overlap with firms we are already engaged with.
We are very excited to be working with an innovative company which shares our continuing commitment to bridging the gap between digital and traditional finance.
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