The Hong Kong Stock Exchange will launch a virtual asset index series (from Coinsradar.net)
The Hong Kong Exchanges and Clearing Limited (HKEX) will launch the HKEX Virtual Asset Index Series (the Index Series) on November 15, 2024, providing a reliable benchmark price for the rapidly emerging asset class of virtual assets, supporting Hong Kong's development as Asia's leading digital asset center.
The Index Series will provide transparent and reliable benchmarks for the pricing of Bitcoin and Ethereum in the Asian time zone, aiming to provide a unified reference price for virtual assets and address price discrepancies among global exchanges for this asset class.
HKEX Group CEO Charles Li stated: “We are pleased to launch the HKEX Virtual Asset Index Series to meet the demand for this rapidly emerging asset class in the region. By providing transparent and reliable real-time benchmarks, we hope to assist investors in making informed investment decisions, thereby supporting the healthy development of the virtual asset ecosystem and reinforcing Hong Kong's position as an international financial center.”
The launch of the Index Series is part of HKEX's commitment to exploring emerging areas, supporting the development of fintech in Hong Kong, while also providing investors with important benchmark tools and solutions in a constantly changing market environment.
The Index Series will include reference indices for Bitcoin and Ethereum as well as reference exchange rates. The reference indices are based on the benchmark spot price weighted by the 24-hour trading volume of Bitcoin or Ethereum and calculated based on aggregated market prices from several major virtual asset exchanges, quoted in USD in real-time. The reference exchange rate is designed for the settlement of financial products and is calculated at 4:00 PM Hong Kong time each day.
The Index Series will be the first virtual asset index series developed in Hong Kong that complies with EU Benchmark Regulation (BMR), co-managed and calculated by a benchmark administration registered in the UK in collaboration with virtual asset data and index provider CCData.
Follow me! Get more exciting content! #内容挖矿
