Intercontinental Exchange Inc. is bringing bitcoin and cryptocurrency price data to hedge fund investors in a deal with Blockstream Inc. that will deliver a cryptocurrency price data feed based on real-time information from more than 15 exchanges.
The feed will offer information on prices, trading volume and order book for several leading cryptocurrencies, including bitcoin, with the prices to be quoted against the U.S. dollar and other major currency pairs.
According to The Wall Street Journal, the feed, due to launch in March, will involve the transmission of cryptocurrency information over ICE’s high-speed data network in the same digital format used in electronic stocks trading, helping it fit into the systems favored by big banks, high-speed traders and asset managers. The report noted that the feed may assist in drawing more “financial heavyweights” into the cryptocurrency market and would “represent a big step forward from the way many bitcoin investors now monitor prices and trading activity.”
“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,” ICE Data Services President and Chief Operating Officer Lynn Martin said in a statement.
Source/More: Intercontinental Exchange will bring live cryptocurrency data to hedge fund investors – SiliconANGLE