Global fintech networking solutions IPC has revealed in a press release that the Cboe Cryptocurrency Feed Summary and Feed Premium are now available on the IPC Connexus Cloud, September 27.
Cboe Global Markets, Inc. is one of the biggest exchange holding companies in the world and its feed summary provides data on three pairs; Ether to Bitcoin, Bitcoin to USD, and Ether to USD. IPC on the other hand has an ecosystem of over 6,600 market participants and its Connexus Cloud is a financial markets cloud solution for data, voice, and enterprise communications and compliance.
Kevin Carrai, Vice President and Global Head, Market Data and Access Services of Cboe, said:
“Cboe was the first global exchange group to launch regulated cryptocurrency futures in the U.S., and we are committed to helping foster a more mature and orderly global marketplace for digital assets. An important part of this effort is efficient and widespread distribution of trade data, to enable investors to make better decisions. To that end, we’re delighted to work with IPC to jump-start this effort.”
IPC would reportedly enable Connexus Cloud users to access Cboe Bitcoin USD (XBT) futures data from Cboe Futures Exchange, LLC (CFE). According to the release, XBT futures provide a “centralized marketplace for participants to trade based on their view of bitcoin prices, gain exposure to bitcoin prices or hedge their existing bitcoin positions.” Moreover, XBT futures are cash-settled contracts based on digital asset exchange Gemini’s auction price for Bitcoin, denominated in U.S. dollars.
Noting the continuous global growth of cryptocurrency trading, IPC Director Global Exchange Relations Management Mike Smith said that analysts are projecting it to reach nearly 1 Trillion dollars this year.
“At IPC we are addressing this dynamic, exciting and developing marketplace in which a vast range of investors are increasingly interested in trading, but given the varying offerings and exchange options, seek strong data to inform their participation. By supporting financial market participants with the real-time data and information they need, we are empowering their participation in the growing cryptocurrency market.”
With IPC’s high-performance solution, firms will be able to trade faster, scale rapidly, achieve greater agility, productivity and efficiency, thus giving the companies a significant competitive advantage. Connexus Cloud integrates clearing/settlement firms, energy firm, inter-dealer brokers, liquidity venues, market data, sell-side and buy-side firms, and trade lifecycle services, connecting its more than 6,600 participants across 750 cities in 60 countries worldwide.
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