The global aggregator of cryptocurrency market data CryptoCompare has signed a partnership with Thomson Reuters that will see the two companies share market data from the trading of cryptocurrencies.
Terms of the agreement
According to the agreement, CryptoCompare will collect trade data and order books for 50 digital currencies. This data will be collected from some of the most trusted exchanges. This information will then be integrated into Eikon, Thomson Reuters’ financial desktop platform. The move is expected to ensure that Thomson Reuters keeps up with its promise of offering information and professional insights to institutional investors.
Eikon is an intuitive and very powerful next-generation platform that is used to access real-time trading and historical data from several markets. The platform also facilitates transaction on several financial markets, as well as connecting all stakeholders in the financial market.
The platform is promoted as being built with award-wining data visualization tools, analytics and news that enable people make efficient investment and trading decisions. The platform covers several types of assets of investment including equities, derivatives, commodities, foreign exchange and fixed income. Eikon is open and can be customized to meet different needs of financial institutions and individuals.
The addition of CryptoCompare’s data to Reuters’ platform will allow investors and trading professionals gain a comprehensive view of the cryptocurrencies market including the behaviors of market participants. This way, they will be able to forecast price movements, a move that is expected to improve the level of profitability.
Information posted on Eikon will be used to trade cryptocurrencies by allowing users to identify buying and selling opportunities. CryptoCompare offers real-time tracking of over 5,000 coins and more than 200,000 cryptocurrency pairs around the world. The platform helps fill gap between the financial markets and the digital assets. Apart from offering market data, CryptoCompare has also put in place measures to safeguard the integrity of its data.
