Thomson Reuters, a media giant and financial information provider, has entered into a strategic partnership with cryptocurrency market data aggregator CryptoCompare to integrate trade data for 50 cryptocurrencies.
According to the CryptoCompare announcement, the company will provide order book and trade data from a wide variety of trusted exchanges. It will be integrated into Reuters’ financial desktop platform Eikon, providing crypto asset market insight for institutional investors.
Eikon provides real-time and historical data, news, analytics and data visualisation tools that enable financial market transactions and connect the financial markets community. It is customizable and contains information on asset classes and instruments, including commodities, derivatives, equities, fixed income and foreign exchange.
With the new partnership, Eikon users will be able to see data for actively trading coins and will allow them to gain a comprehensive view of the cryptocurrencies market and of market participant behavior, enabling them to predict price movements with a high degree of probability.
“Despite the decline in the price of many of the leading cryptocurrencies during 2018, we continue to see increasing demand from our customers for pricing coverage of the major names,” said Sam Chadwick, director of strategy in innovation and blockchain at Thomson Reuters. The media giant has been engaged with CryptoCompare since the crypto company’s involvement in its blockchain hackathon in September 2016. This partnership puts pricing data for this emerging market alongside other asset classes, giving customers a more comprehensive trading view in Eikon, according to Chadwick.
“As the digital asset markets mature, we see a fast-growing demand from the institutional investor community for comprehensive, real-time and global market data, which can be trusted as the basis for investment decisions,” said Charles Hayter, CEO and founder of CryptoCompare adding that the partnership provides a “great opportunity” for the institutional investor community to access not only its data, but also to benefit from its experience and insight.
In March, Thomson Reuters expanded its sentiment tool MarketPsych Indices with information on Bitcoin and later by including the top 100 cryptocurrencies in June.
This article appeared first on Cryptovest
