Canada-based media giant Thomson Reuters has entered into a strategic partnership with the global cryptocurrency market data aggregator CryptoCompare to track 50 more cryptocurrency assets on its finance data feed. As a part of the agreement, CryptoCompare will integrate trade data of 50 cryptocurrencies provided from a number of trusted exchanges. Thomson Reuters will then use this information to enhance its financial desktop platform Eikon, thereby delivering better and reliable insights into the crypto market to institutional investors.
Thomson Reuters said that the available aggregated data will help institutional investors to predict the price movements of those digital assets accurately and with “a high degree of probability”. Eikon is a powerful platform from Thomson Reuters that connects the financial markets global community while presenting investors with real-time historical data.
Eikon’s high-end data visualization and analytics tools make it easy for investors to make quick investments decisions across multiple asset classes like equities, commodities, derivatives, foreign exchange and fixed income. Eikon provides a flexibility to individuals to customize it as per their needs.
Sam Chadwick, Director of Strategy in Innovation and Blockchain at Thomson Reuters, said:
“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. We have been engaged with CryptoCompare since their involvement in our blockchain hackathon in September 2016, and continue to be very impressed by their approach to coverage of these challenging markets. This partnership puts pricing data for this emerging market alongside other asset classes, giving our customers a more comprehensive trading view in Eikon.”
After the latest partnership with CryptoCompare, users of the Eikon platform will also get a comprehensive insight into the price movements of those 50 digital assets, thereby receiving the possibility to predict the market momentum with high accuracy. The crypto market data aggregator provides different data information like order book data, trade data, social data and block explorer data, doing this by seamless integrating datasheets provided by global cryptocurrency exchanges.
CryptoCompare provides reliable and accurate pricing data for 5000+ digital tokens and over 20,000 digital currency trading pairs globally. Being professional players in this field, CryptoCompare is well-known in the global financial industry for its data integrity, accuracy and providing consistent data by normalizing the global data sources.
“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. We are excited to enter into this partnership with Thomson Reuters; we have always sought to provide transparency to this market and this partnership provides a great opportunity for the institutional investor community to access not only our data, but also to benefit from our experience and insight,” said Charles Hayter, CEO and Founder of CryptoCompare.