The Hong Kong Stock Exchange today launched a series of virtual asset indices, with reference exchange rates calculated at 4 p.m. daily.

[Hong Kong Exchanges and Clearing Limited launches virtual asset index series today, reference exchange rate is calculated at 4 pm daily] Golden Finance reported that according to Hong Kong media, Hong Kong Exchanges and Clearing Limited will launch the Hong Kong Exchanges and Clearing Limited virtual asset index series today. The index series will provide a transparent and reliable real-time price benchmark for the pricing of Bitcoin (BTC) and Ethereum (ETH) in the Asian time zone, provide a unified reference price for virtual assets, and solve the price differences between virtual assets on global exchanges. Specifically, the reference index is based on the benchmark spot price weighted by the 24-hour trading volume of Bitcoin or Ethereum, and is calculated based on the aggregated market prices of several major virtual asset exchanges, and is denominated in US dollars in real time. The reference exchange rate is designed for the settlement of financial products and is calculated at 4 pm Hong Kong time every day. The launch of this index series is also an initiative for Hong Kong to build Asia's leading digital asset center. Ye Zhiheng, executive director of the Intermediary Department of the Hong Kong Securities and Futures Commission, previously pointed out that virtual asset trading platform licenses will be issued before the end of this year, a virtual asset trading platform advisory group will be launched early next year, and tokenization and Ensemble projects will continue to be supported.