Launch of DA Fixings Benchmark by CCData
CCData, a significant player in digital asset data and index solutions, has announced the introduction of its Digital Asset (DA) Fixings Benchmark Family. This new offering is designed to provide an end-of-day reference price specifically tailored to meet the needs of institutional stakeholders, aiming to transform digital asset trading.
New Methodology and Benefits
The DA Fixings Benchmark Family is based on CCData’s FCA-regulated CCIX benchmark, with over 200 global cryptocurrency exchanges evaluated to develop the benchmark. The robust methodology includes a 24-hour volume-weighted average, a time penalty factor, and an outlier detection system to ensure a representative end-of-day reference price.
Partnership with Ultumus
For the launch of DA Fixings, CCData has partnered with Ultumus, a subsidiary of SIX Group, especially known for its traditional and cryptocurrency ETF and index trading ecosystem. Ultumus will be the first to integrate DA Fixings into its platform, allowing clients to access and license CCData’s DA Fixings through its ETF/Index feeds and the COSMOS ETF Create/Redeem platform.
Charles Hayter and Bernie Thurston’s Remarks
Charles Hayter, CEO and Co-Founder of CCData, emphasized the significance of the DA Fixings launch, noting its role in introducing an innovative digital asset valuation standard for institutional markets. Bernie Thurston, CEO of Ultumus, also highlighted the importance of providing managed ETF and Index data services for institutions in both traditional and crypto markets.
Hot Take: A Revolutionary Model for Digital Asset Valuation
The collaboration between CCData and Ultumus represents a major step in transforming digital asset trading by providing a robust and reliable end-of-day reference price tailored to institutional stakeholders. This innovative benchmark family is poised to set a new standard for the valuation of digital assets in institutional markets, catering to the nuanced requirements of traders and investors globally.
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