BitMEX Now Provides Crypto Data to Refinitiv’s Eikon Terminal

admiralmarkets.com

Crypto exchange and derivative trading platform BitMEX now feeds crypto data to Refinitiv’s Eikon Terminal, a spin-off from the primary competitor of Bloomberg’s financial data terminals.

CryptoCompare, a crypto market data company that has been in partnership with Refinitiv for quite some time now, has been instrumental in having the partnership between the terminal and exchange, said CryptoCompare CEO Charles Hayter.

The Eikon Terminal will obtain BitMEX information via CryptoCompare’s present contribution channel with the terminal. Hayter said that CryptoCompare is in charge of handling the data exchange connecting BitMEX data into the terminal.

“CryptoCompare contributions conduit can deliver [BitMEX’s data] to Refinitiv/Eikon seamlessly, thanks to our longstanding partnership — sparing BitMEX a costly, time-consuming integration and onboarding process with Refinitiv,” Hayter stated.

BitMEX is confident that the collaboration can assist in bringing new institutional investors and in gaining some traction from the conventional financial industry.

BitMEX uses an API that enables tech-savvy traders to monitor live trading data. BitMEX traded an average daily volume of $1.14 billion in April. The information BitMEX feeds to the terminal is similar to what runs in the API, but it will also enable new institutional traders to easily navigate to the crypto market through the conventional platform they already use.

“When it comes to trading, good decision-making depends on access to solid data insights,” said BitMEX CEO Arthur Hayes in the release. “We are pleased to deliver a new wealth of data on cryptocurrency futures for institutional investors that can contribute to their overall confidence throughout their decision-making process.”

Bloomberg is also collecting data for its crypto investors through the Huobi Price Index, which monitors the performance of the top 10 cryptocurrencies traded on Huobi Pro. However, Hayter said that Reuters has a more “definitive offering.”