Canadian exchange and NZ crypto data firm team up to make new indexes

Canadian exchange and NZ crypto data firm team up to make new indexes
Written by:
Ali Raza
15th July, 11:19
  • New Zealand crypto data provider, Brave New Coin, just partnered with Canadian crypto derivatives exchange.
  • The two aim to deliver a number of new indexes for institutional and retail traders.
  • The first one to arrive will be LTC index, while crypto options will start trading in 2021.

Canadian cryptocurrency exchange, Toronto Futures Options Swaps Exchange (tFOSE) recently teamed up with a crypto data company Brave New Coin (BNC), located in New Zealand. The firm already provides index services and data to some major names in the trading industry, including NASDAQ, Amazon Alexa, Dow Jones Factiva, and others.

The goal is to power crypto options trading, and bring it to a new level.

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The goal of the partnership

Thanks to BNC’s data, tFOSE will be able to offer cash-settled cryptocurrency derivatives to clients around the world.

BNC will be able to calculate, design, and administer a vast array of crypto indices, which would be used for powering cash-settled options trading on the derivatives exchange.

tFOSE’s chief executive and president, James Beattie, commented on the partnership with BNC. He said that the company chose this crypto data provider after extensive research of numerous companies.

The choice was clear after it was established that Brave New Coin meets all of the exchange’s needs. On top of that, it has a rather unique approach to index designing, governance, and methodology.

All of this will help the exchange meet the needs of its clients, be they institutional or retail investors.

LTC index will be the first to arrive

As for when crypto options trading will start, tFOSE expects it at some point in 2021. At this point, it is still not able to provide a more specific date. According to its current estimates, indices will become available for production by the end of this year. The first index to see launch will be the ‘tFOSE BNC Litecoin Index,’ as the companies revealed.

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