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Nasdaq to Introduce Bitcoin (BLX) and Ethereum (ELX) Indices to Global Index Service Offerings

Nasdaq to Introduce Bitcoin (BLX) and Ethereum (ELX) Indices to Global Index Service Offerings

American stock exchange, Nasdaq last week announced that it will add Bitcoin Liquid Index (BLX) and the Ethereum Liquid Index (ELX) to its Global Index Service Offerings

Nasdaq Global Indexes has been creating transparent indexes since 1971 and it disseminates real-time values for its indexes and listed ETPs throughout the trading day.

This time Nasdaq in collaboration with Brave New Coin (BNC) will add Bitcoin Liquid Index (BLX) and the Ethereum Liquid Index (ELX) to its Global Index Service Offerings.

Both indices will launch and be effective starting 25th February 2019.

The collaboration will help allow Nasdaq to stream  real-time Bitcoin and Ethereum index level information to the Nasdaq Global Index Data Service (GIDS)

Bitcoin Liquid Index (BLX) and the Ethereum Liquid Index (ELX) will list real-time rates for the price of One BTC and One Ethereum respectively. The price will be quoted in USD.

The Bitcoin Liquid Index (BLX) and the Ethereum Liquid Index (ELX) are each designed to provide a real-time spot or reference rate for the price of 1 BTC and 1 ETH respectively, quoted in USD, and based on the most liquid ends of their markets.

Brave New Coin developed Bitcoin Liquid Index (BLX) and Ethereum Liquid Index (ELX). BNC provides BLX / ELX API that can stream 30-second Intra-Day pricing, End-of-Day OHLCV, and Time & Volume-Weighted-Averages.

The announcement claimed that indices are calculated using a methodology that has been independently audited against key IOSCO principles. It further added, "The BLX is one of the most widely-referenced BTC indices among crypto traders and has been calculated back to 2010. Likewise, the ELX has been calculated back to 2014."

This is an overall positive development for Bitcoin, Ethereum and whole crypto industry. Considering the US among the world's leading economies, the other countries around the world could follow the footsteps of Nasdaq.

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Mandar is a seasoned software professional for more than a decade. He is Cloud, AI, IoT, Blockchain and Fintech enthusiast. He writes to benefit others from his experiences. His overall goal is to help people learn about the Cloud, AI, IoT, Blockchain and Fintech and the effects they will have economically and socially in the future.

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