SIX, the global financial infrastructure and information provider, has joined a select group of global entities offering crypto reference rates and real-time indices. AsiaNext, the global exchange for digital assets, will use the SIX Reference Rate Crypto and SIX Real-Time Crypto Indices for crypto derivatives trading on their venue.
The new SIX Reference Rate Crypto Indices and SIX Real-Time Crypto Indices cover the major crypto assets Bitcoin and Ethereum, and offer crucial market insights:
- Comprehensive snapshot – these indices paint a clear picture of the market and its performance.
- Transparent Methodology – built on rules-based, multi-exchange data aggregation approach, the indices foster trust and consistency.
- Precise Valuation & Tracking: they enable accurate pricing and performance tracking, which support nuanced analysis and informed decision making.
- Hourly Benchmarks: they provide the BTC and ETH benchmark price in USD on an hourly basis
- Second-by-second Real-Time Index: Offer unparalleled market pulse for active trading strategies 24 hours a day, 365 days per year.
This partnership sets another key milestone for the crypto industry in moving towards more robust methodologies, fair and transparent valuation as well as product standardisation, paving the way for wider institutional adoption.
Dr. Christian Bahr, Head Index Services at SIX states: "The introduction of these BTC and ETH Indices underlines our dedication to delivering sophisticated and well-tailored solutions for very specific use-cases. I am confident that these benchmarks will serve as an indispensable tool for AsiaNext and foster the creation of an ecosystem between derivative exchanges and institutional investors".
Sudeep Chatterjee, Head of Product at AsiaNext adds: "We are pleased to leverage the expertise of one of our shareholders (SIX) to develop an industry benchmark for crypto. Our partnership bridges the gap between traditional finance and the dynamic crypto ecosystem, by providing financial institutions with robust valuation tools and risk management solutions.”
AsiaNext, an institution-only global digital asset trading venue, successfully launched crypto derivatives trading earlier this year with several key market makers and prime brokers. It is a joint venture between SIX and SBI Digital Asset Holdings, to serve the industry-wide demand from institutions for safer and secure venues to trade digital assets.
The SIX Reference Rate Crypto Indices are accessible for tracking and analysis through AsiaNext’s institutional crypto derivatives platform, as well as through the data feeds from SIX.
For more information, please visit https://www.six-group.com/en/products-services/financial-information/indices/crypto-indices.html
SIX operates and develops infrastructure services for the Swiss and Spanish Stock Exchanges, for Post-Trade Services, Banking Services and Financial Information with the aim of raising efficiency, quality and innovative capacity across the entire value chain of the Swiss and Spanish financial centers. The company is owned by its users (120 banks). With a workforce of 4,044 employees and a presence in 20 countries, it generated operating income of CHF 1.5 billion and Group net profit of CHF 185.0 million in 2022.
AsiaNext is an institution-only, global exchange for digital assets. A first-of-its-kind, it is a world-class platform for tokenising and trading a diverse range of securities and non-bankable assets. AsiaNext offers listing, trading, clearing, settlement and custody.
A joint venture between SBI Digital Asset Holdings Co., Ltd. (SBI DAH) and SIX Group AG (SIX), AsiaNext is built to meet the growing institutional demand for a safe venue to trade digital assets. AsiaNext has been granted the Capital Markets Services and Regulated Market Operator licences by MAS. As crypto derivatives are not regulated, this is offered through a separate unregulated subsidiary. Notwithstanding, AsiaNext adheres to the same strict standards of regulatory compliance and corporate governance across all its activities.