Developments

A derivatives exchange partner with a market data provider to provide crypto futures data to investors

A leading cryptocurrency market data provider, CryptoCompare, has partnered with a derivatives exchange, BitMEX, to provide professional investors on the Refinitiv Eikon terminal with real-time crypto futures data.

The partnership will enable BitMEX to deliver its dataset to Refinitiv, the largest financial market data provider, through CryptoCompare’s contributors conduct and ultimately integrate into Refinitiv’s Eikon terminal.

Earlier this year, BitMEX one of the leading crypto futures trading platforms, achieved a new all-time high in trading volume by registering $10 billion in a day. Earlier this year, the trading volume of the exchange increased despite the overall volume in the crypto market dropping.

BitMex is the only exchange in the market that provides 100x leverage. BitMEX offers different leverages for different cryptocurrencies under different types of contract.

However, only BTC deposits are accepted in BitMEX in order to leverage trading, and no other currency is accepted for accounting sake loss and profits are also in BTC terms. Due to this reason, only BTC wallets to withdraw and deposit are available.

Arthur Hayes, BitMEX’s CEO, commented on the new partnership saying:

“When it comes to investing, good decision-making depends on access to solid data insights.  We are pleased to deliver a new wealth of data on cryptocurrency futures for institutional investors that can contribute to their overall confidence throughout their decision-making process.”

According to a press release, CryptoCompare has a long-standing partnership with Refinitiv, offering exchanges and information providers a neutral way to contribute data to Refinitiv that doesn’t consume time in integration or any costly processes.

The COE of CryptoCompare, Charles Hayter, noted that the firm is dedicated to bringing a high-quality real-time dataset to professional investors on the Refinitiv Eikon terminal. He also added that the partnership would increase confidence and transparency in the cryptocurrency market, which may result in attracting more institutional investors.

Do you think the partnership between BitMEX and CryptoCompare will increase transparency and confidence in the cryptocurrency market?

You may also be interested in:

BitMEX exchange review: 5 things you should know before you start trading

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coinmag

Philip is an experienced blogger keen on staying updated with trends and news surrounding the blockchain and Bitcoin space. With several years of freelance experience in various industries, Philip brings his knowledge and experience into the crypto space.

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