Nasdaq Explores Adding Cryptocurrency Datasets to Its Analytics Tools

Julien GONG Min / Flickr
Voyager
Voyager

Nasdaq (NDAQ), the second-largest stock exchange in the world by total capitalization, is reportedly exploring the addition of cryptocurrency datasets to its market analytics tool.

According to a breaking report by Cointelegraph, the firm is considering bringing crypto data to Analytics Hub, a market research tool that was launched in 2017 to help users parse unstructured data to make informed investment decisions.

In a statement provided to Cointelegraph, Nasdaq’s Head of Alternative Data Bill Dague emphasized that while this is still in its exploration phase and nothing is certain, the firm has received enough interest from investors to drive further review.

Given [an] abundance of interest, we are exploring cryptocurrency related datasets. Whether or not we launch a crypto-related product remains to be seen

Nasdaq drew significant attention after it reportedly hosted a closed-door meeting last month in Chicago that included representatives from about half a dozen companies, including Gemini and other cryptocurrency exchanges. According to reports by Bloomberg, the focus of the gathering was to encourage the industry to work toward improving the image of cryptocurrency by validating its potential role in global markets.

Previous unconfirmed reports also suggest that Nasdaq is making a concerted effort to list multiple cryptocurrencies on the exchange as early as 2019.

Nasdaq wouldn’t be the first major financial institution to launch crypto analytics products. Just recently, Canadian media and analytics company Thomson Reuters announced that it has partnered with CryptoCompare, a global cryptocurrency market data aggregator, to integrate order book and trade data for the 50 coins on the Thomson Reuters financial desktop platform, Eikon.

More: Nasdaq Exploring Adding Crypto Data Sets to its Analytics Tool, Sources Say
Photo: Julien GONG Min / Flickr

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

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