TrueDigital, a provider of institutional-grade products to the crypto space, has announced a partnership with Crux Informatics (Crux), a cloud-based platform and managed service that provides data delivery and operations at scale.
Through this partnership, trueDigital OTC cryptocurrency reference rates will be available to its institutional customers. These indices will provide the crypto community with what trueDigital claims is “institutional grade pricing” for bitcoin (BTC) and ether (ETH), sourced from 12 OTC market makers.
“Governed by IOSCO principals, these reference rates are the first of their kind and were designed for reliability and transparency. Market participants looking to better understand the price of BTC and/or ETH in institutional size can use them as an input to their trading systems, internal fair value calculations or net asset value calculations. With most large BTC or ETH transacting in the OTC market, indices based on retail pricing alone have been found to be less accurate and are potentially prone to manipulation, ‘flash crashes’ and excessive volatility,” says trueDigital in a post today announcing the partnership.
The firm adds that Crux’s current and potential future customers are logical consumers of its offering and that this partnership will offer a scalable alternative for institutions to access trueDigital’s products and services.