FastMatch Adds Bitcoin Market Data to FX Tape ‎

March 3, 2018

FastMatch, the Euronext-owned foreign exchange trading venue, has added ‎Bitcoin to its FX Tape as the company plans to support the trading of the ‎cryptocurrencies later in the year.‎

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The FastMatch FX Tape’s streaming service now provides real-time last trade data to the ‎‘Big Daddy’ of cryptocurrency against the U.S. dollar (BTC/USD).

We understand the new addition is modelled on similar approach for other FX instruments, ‎which consists of established institutions engaged in the market. This ‎provides a last-sale data feed with price, size and timestamps. The idea itself makes sense due ‎to the decentralized and international nature of the cryptocurrency market, and the lack of a ‎single regulatory authority sitting above it.‎

The driver of this jump into the crypto space was cited as the ‎increase in awareness of virtual asset class and ‎blockchain technologies.‎

By default, the trades will be collected in aggregated and ‎delayed fashion to minimize market impact, and possibly ‎to reduce costs compared to the case where those trades ‎are disseminated in real time. While the service will ‎consolidate data from several resources, the product is distributed to market participants and vendors via ‎FastMatch’s and Euronext’s distribution networks.‎

Earlier in November, FastMatch offered real time public ‎access to its FX Tape feed at €40 per month.‎

 

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