S&P Dow Jones Index to Launch Global Crypto Asset Index with Lukka
The cryptocurrency community is celebrating another big industry news, as S&P Dow Jones Indices (SPDJI), the world's leading provider of stock indices, intends to launch global cryptocurrency indices by next year leveraging crypto services based in New York City. – Lukka asset data and software company.
The S&P Dow Jones Index, a division of S&P Global, announced the news in a press release Thursday, December 3. Per the announcement, the index provider will soon launch custom index capabilities by using data from Lukka's proprietary crypto asset price data services, such as Lukka Reference Data and Lukka Prime, which provide a single price for crypto-based assets. in information from various exchanges. OTC trading tables and portfolios.
This customizable crypto index will allow S&P clients to create custom indexes and other benchmarking tools on cryptocurrencies and will allow asset management companies to build their own investment vehicles, such as publicly traded products.
For next year, the firm will also launch its own crypto index under the S&P DJI brand, much like the S&P 500 stock index.
Both financial data provider firms believe that a global crypto index will help cryptocurrencies become more mainstream investments and make it easier for 'investors to access this emerging technology-driven asset class, while potentially mitigating some of the risks. commons associated with this traditionally speculative market. '
Robert Materazzi, CEO of Lukka, believes that:
“Our collaboration with S&P DJI is another milestone that bridges the gap between the cryptoasset ecosystem and traditional financial services. Clients with cryptographic data requirements will soon have access to the industry's most trusted data backed by Lukka's institutional quality standards, such as AICPA SOC Controls. In a rapidly maturing industry, building to institutional standards is paramount when working with well-respected brands such as S&P DJI. Lukka is delighted to help drive continuous innovation in collaboration with S&P DJI.
S&P DJI is not the first financial firm to enter this fledgling asset class. The global stock operator NASDAQ, in collaboration with the Brazilian fund manager Hashdex, launched the ‘Hashdex Nasdaq Crypto Index’ in September 2020.
Peter Roffman, global director of innovation and strategy, S&P Dow Jones Indices, commented:
“For more than a century, S&P Dow Jones Indices has pioneered the creation of innovative and relevant benchmarks and indices that reflect the continued growth and evolution of the global marketplace. With digital assets such as cryptocurrencies becoming a rapidly emerging asset class, the time is right for easy-to-use, reliable and independent benchmarking. We are excited to work with Lukka, who has been at the forefront of digital asset data services, to promote greater transparency in this nascent industry. "