Truly sensational news came from several rating agencies at once. The leading suppliers of quotes launch two composite cryptocurrency indexes, which will track the dynamics of the value of the 200 most liquid assets.
Already this week, two new tools will appear on the platforms Nasdaq, Bloomberg, Reuters and on the Stuttgart Stock Exchange. The first is CMC Crypto 200, which tracks the dynamics of the 200 most liquid cryptocurrencies.
In this way, more than 90% of the liquidity of the digital financial assets market will be introduced into one instrument. The second index is called CMC Crypto 200 ex BTC, which differs from the previous one with the exception of the most popular asset - Bitcoin.
Bitcoin takes more than 50% of the cryptocurrency market capitalization. Its exclusion from the rating allows us to more accurately assess the situation on the trading floors.
The calculation of digital indicators will be engaged in the German company Solactive together with CoinMarketCap. Now, these companies are recognized leaders in tracking cryptocurrency quotes and creating individual financial solutions.
According to a number of experts, the emergence of CMC Crypto 200 and CMC Crypto 200 ex BTC will make it possible to radically change the situation on trading floors. Recipients of quotes will be not only analytical agencies but also trading platforms.
They will be able to provide their customers with objective data on current quotes and make trading more secure. Composite indexes will avoid market manipulation and provide the most transparent conditions for cooperation.
The main claim of the SEC to cryptocurrency is the technical difficulty in providing accurate data on the price of the asset. According to the regulator, this can lead to consumer fraud and market manipulation.
What is important is the fact that at once the four largest financial service providers will use a single index. This fundamentally changes the situation on the market by providing buyers and sellers with standard quotes.
At the end of 2018, Forbes magazine created its cryptocurrency information portal. On it, they tried to create a certain analogue of the composite index, tracking the quotes of the 30 most popular assets.
However, the FB30 index did not become a global source of information. Although some experts refer to it, but no one began to use the new index in trade. Unlike the FB30, CMC Crypto 200 and CMC Crypto 200 ex BTC can be used for real stock trading. It is on their basis that new futures and options will be created.