Wall Street Creates Global Cryptocurrency Data Fee
January 19 2018 - 6:01AM
ADVFN Crypto NewsWire
New York Stock Exchange (NYSE) parent
Intercontinental Exchange, Inc. (ICE) has announced it is creating
a global cryptocurrency data feed, active by the year’s first
quarter.
Wall Street Teams with Bitcoin Developer
“Access to comprehensive price discovery is vital to accurately
value the cryptocurrency market,” a newly created ICE landing page
reads. “Our Cryptocurrency Data Feed, available on the ICE
Consolidated Feed, gives you access to streaming real-time, end of
day and historical data for the most actively traded digital
currencies.”
Intercontinental Exchange, Inc. (ICE) owns several
exchanges from the New York Stock Exchange (NYSE) to subsidiaries
in Singapore and Netherlands. Based in Atlanta, Georgia, it’s a
Fortune 500 company looking to enter the burgeoning cryptocurrency
market. Blockstream is a private company geared toward bitcoin core
applications, especially sidechains, and funds many bitcoin core
projects, and will act as its partner.
The Feed will include “broad coverage” of six major
cryptocurrencies: bitcoin core, ethereum, litecoin, dash, ripple,
and bitcoin cash. The collaboration also promises “to offer
multi-asset and multi-venue data from cryptocurrency exchanges
globally, which will be available in the first quarter of 2018,”
capturing “nearly 80% of crypto-exchange trading volume for the
most active currency pairs.”
“All crosses are captured and normalized,” ICE explains, “which creates a
unique sequence number, details on where the trade took place, and
other relevant order book data such as quantity, price, currency
and timestamp.” ICE also promises over “two years of Bitcoin (XBT)
history; XBT/USD averages over 200,000 updates per day; in excess
of 600,000 updates per day across all digital pairs.”
Low Latency, Quality Information
The new feed “initially include data from more than 15
cryptocurrency exchange venues globally,” ICE COO Lynn Martin is
quoted as saying, “With the broad array of cryptocurrencies and
exchanges, and given the price variances between exchanges, it’s
critical that investors have a comprehensive source of pricing
information.”
The six cryptocurrencies will be “measured against the U.S.
Dollar and other major currency pairs,” the announcement continued.
“Blockstream works with cryptocurrency exchanges around the world
and consolidates the disparate data sets into a normalized and
standardized data source that includes real-time and historical
trade information, as well as other relevant order book data such
as quantities, prices, currencies, and timestamps.”
The team’s hope is to limit latency in price discovery,
providing as close to real-time and quality information as
possible. “The ICE Data Services Consolidated Feed provides access
to over 450 normalized real-time market data feeds and is part of
ICE’s Connectivity service,” they stress.
It’s too early to know just yet if The Feed will compete with
Coinmarketcap and other aggregators already established, but
perhaps Wall Street professionals will be drawn to the legitimacy
and gravitas ICE brings, furthering the crypto mainstreaming
trend.
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