SIX launches real-time BTC and ETH Indices for crypto derivatives trading

SIX has launched the SIX Reference Rate Crypto and SIX Real-Time Crypto Indices, which are set to serve as benchmarks for AsiaNext’s crypto derivatives trading platform and institutional investors worldwide.

The indices, focusing on major crypto assets such as Bitcoin (BTC) and Ethereum (ETH), aim to provide a comprehensive market overview and its performance metrics.

They are developed using a transparent, rules-based methodology, sourcing data from multiple exchanges to ensure clarity and consistency.

Precise pricing, valuation, and performance tracking

Christian Bahr, Head Index Services, Financial Information, SIX, said: “The introduction of these BTC and ETH Indices underlines our dedication to delivering sophisticated and well-tailored solutions for very specific use-cases, such as crypto derivatives trading. I am confident that these benchmarks will serve as an indispensable tool for AsiaNext and foster the creation of an ecosystem between derivative exchanges and institutional investors”.

Sudeep Chatterjee, Head of Product at AsiaNext, commented: “We are pleased to partner with SIX for an industry benchmark for the crypto market that underscores our commitment to providing institutional clients with robust crypto derivatives trading including standardized performance evaluation and timely risk management to help them make more informed investment decisions and meet regulatory requirements.”

The indices are designed to aid in precise pricing, valuation, and performance tracking, facilitating detailed market analysis and strategic decision-making in the crypto market. The SIX Reference Rate Crypto Indices offer hourly benchmark prices for BTC and ETH in USD, while the BTC and ETH SIX Real-Time Indices update every second.

AsiaNext is a JV between SIX and SBI

AsiaNext, co-founded by SIX and SBI Digital Asset Holdings, is a digital asset trading platform catering to institutional investors that adheres to stringent standards of corporate governance and internal controls.

Earlier this year, the firm announced the launch of crypto derivatives trading, a crucial development for institutional investors seeking a safe and secure venue to trade digital assets.

AsiaNext, which received regulatory approval from the Monetary Authority of Singapore back in September, will provide a broad product pipeline including digital securities, tokenized real-world assets, and sustainability-focused listings.

Trading members, including renowned market maker B2C2 and a leading prime broker, benefit from reduced counterparty and settlement risk and can enjoy capital efficiencies through the venue’s innovative risk management process, flexibility, and capabilities to support frequent intra-day margining and settlement runs.

Pioneering a unique connectivity solution powered by Colt, AsiaNext also supports low latency and high-frequency trading available 24/7 (for crypto derivatives), as part of a suite of connectivity options for its members. This adds flexibility and comfort for professional traders at institutions. Its matching engine is also built and customised to the demands of an institutional-grade venue.