- HKEX said the index will provide investors with transparent and reliable benchmarks for Bitcoin and Ether pricing in the Asian time zone.
- The company’s CEO said it would “reinforce Hong Kong’s role as an international financial center”.
As a seasoned crypto investor with roots deeply embedded in the Asian market, I find the announcement of HKEX launching a virtual asset index series on Nov. 15 particularly intriguing. With years of experience under my belt and a keen eye for spotting trends, this move by HKEX could be a game-changer.
On November 15th, as announced on Monday, Hong Kong Exchanges and Clearing (HKEX) is set to debut its series of virtual asset indices.
Speaking about transparency and reliability, the HKEX CEO, Bonnie Y Chan, explained that by providing real-time benchmarks for virtual assets, they aim to empower investors with up-to-date knowledge to make wise investment choices. This, in turn, is expected to foster growth within the virtual asset industry, ultimately strengthening Hong Kong’s position as a global financial hub.
The administration and calculation of the index will be handled by CCData, a UK-based benchmark administrator and supplier of virtual asset data and indices. Important to note, CCData is an entity owned by CoinDesk.
The index series will include a reference index for bitcoin (BTC) and ether (ETH), as well as a reference rate for bitcoin and ether.
The “reference index” refers to the continuous, 24-hour price of Bitcoin or Ethereum, compiled from leading cryptocurrency trading platforms. This value is updated in real-time and expressed in US Dollars.
The reference rate is set up to handle the payment processing of various financial goods, being computed every day at 4 PM in Hong Kong’s time zone.
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2024-10-28 13:07