The Nasdaq exchange operator adds another cryptocurrency index – this time for the third largest cryptocurrency in the world, XRP.
On Monday, the company announced that, through a partnership with a New Zealand bazaar company engaged in data and research, Brave New Coin, it will offer real-time index information for XRP starting May 1.
In particular, the liquid XRP index (XRPLX) will offer a spot or reference rate for the XRP price quoted in AS dollars and “based on the most liquid ends of their markets”.
“XRPLX receives data only from the most liquid exchanges in terms of volume and depth of the order book,” said Brave New Coin in a separate statement
"The current component exchanges for XRPLX include Bitfinex, Bitstamp, Poloniex and Kraken with Coinbase, which will be added in the next review."
The new stream will be available in the Nasdaq Global Index Data ServiceSM (GIDS), its consolidated data feed. The index includes data for 2014 and is updated every five minutes, the Nasdaq reported.
The index is calculated using a methodology that was “independently verified” in accordance with the principles of the International Organization of Securities Commissions (IOSCO), the firm added.
Nasdaq first entered into a partnership with Brave New Coin earlier this year when he added Bitcoin (BTC) and Ethereum (ETH) indices to his global data service.
Last month, Nasdaq also began offering two benchmark indices, covering the 200 largest cryptocurrencies by market capitalization – one with bitcoins and the other without using data provided by CoinMarketCap.