Nasdaq Adds Brave New Coin’s XRP Index to Global Data Service

The world’s largest stock exchange, Nasdaq, announced that it has introduced XRP Liquid Index (XRRLX), a new XRP index, to its global data service. The news was announced in a post on its website published on April 29.

Per the announcement, the development is part of Nasdaq’s data dissemination partnership with cryptocurrency analytics company Brave New Coin. The company will reportedly send its real-time XRP index level information on the Nasdaq Global Index Data Service SM (GIDS). In a separate announcement, Brave New Coin noted:

“The XRPLX sources data from only the most liquid exchanges by volume and order-book depth [...] Current constituent exchanges for the XRPLX include Bitfinex, Bitstamp, Poloniex and Kraken with Coinbase to be added in the next review. ”

According to the dedicated website, GIDS is a service aiming to provide real-time values for its indexes and listed ETPs, while Nasdaq also compiles and delivers weightings and components information, corporate actions and breadth of additional data.

In February, Nasdaq had already began listing Brave New Coin’s Bitcoin Liquid Index (BLX) and Ethereum Liquid Index (ELX).

As Cointelegraph reported in March, CoinMarketCap announced that it will launch two cryptocurrency benchmark indices on Nasdaq Global Index Data Service, Bloomberg Terminal, Thomson Reuters Eikon and Börse Stuttgart.

More recently, Cointelegraph wrote that Nasdaq is allegedly testing trading of a bitcoin (BTC)-based product, according to a tweet by an analyst at quantitative trading analytics service StrongMarket.