Comprehensive market data on Bitcoin, Ethereum and Ripple will be distributed to major financial markets through the partnership between Tullett Prebon Information and digital currency data provider BraveNewCoin (BNC) Tullett Prebon Information (TPI) oversees a clientele of leaders in the financial services industry, including banks, central banks, wealth and fund management firms. The leading multi-billion dollar interdealer broker’s market data branch, TPI is set to merge with a UK-based financial services company ICAP.
The deal between Tullett Prebon and BNC will immediately bring transparency on intraday pricing, liquidity index, and market data of over 50 digital currencies.
TPI Head of Asia Pacific, Middle East and Africa Andrew Reeve stated that considering the rapidly increasing adoption of digital currencies in a wide range of industries, offering digital currency data to its high profile clientele will allow the firm to lead the financial industry to digital currency adoption.
“We are excited to be working with BNC to provide much needed transparency, especially in light of current market volatility. This underlines our ability to stay ahead of the pack, providing intelligence on the markets of the future now.”
Impact of Digital Currency Data Integration on Financial Industry
TPI’s services and platforms, including the Spot FX pricing product, are utilized by major financial institutions and central banks globally.
The formation of partnership between TPI and BNC allows the industry’s largest banking groups and establishments to gain instant access to the BNC Bitcoin Liquidity Index amongst other important digital currency data.
“As TPI’s ‘Spot FX’ pricing product is integrated thoroughly through the world’s Forex price plumbing, the addition of BNC's Bitcoin and Digital Assets pricing to Spot FX means instant global coverage, giving institutional users easy access to this asset class via their existing & preferred vendors,” BNC CEO Fran Strajnar told Cointelegraph.
More importantly, the issuance of Bitcoin and digital currency data to a clientele so heavily focused on the development of independent and private Blockchain technologies, means that an important section of today’s financial industry will be able to experience and observe the growth of Bitcoin and the cryptocurrency market without friction.
“A new asset class has arisen and its exponential growth is proving attractive. We are excited to be partnering with TPI, the leaders in global market information, who recognise the importance of transparency across all asset classes, old and new,” Strajnar added.
To date, the deal between TPI and BNC remains the first case in the digital currency industry in which a mainstream financial data provider and institution will provide ‘Asset Class Wide’ digital currency coverage to a consumer base of banks, financial institutions, and investors.