Deutsche Börse, a
Germany-based stock exchange organization, says it has entered into a cooperation
with Kaiko, a crypto market data provider, to meet the high demand for
cryptocurrency market data from its clients.
Through the partnership, which the exchange disclosed on Tuesday, the Deutsche Börse Market Data and Services will make consolidated crypto data
feed directly accessible to its customers.
The Deutsche Börse
Market Data and Services provides proprietary market data from Deutsche Börse
Group’s Xetra and Eurex trading platforms to the exchange’s partners and
financial market participants around the world.
Under the partnership,
Deutsche Börse said its new data offering will include real-time and historical
tick level data for all crypto exchanges and digital assets covered by Kaiko.
These data will undergo
quality review by Deutsche Börse, the company said.The German stock exchange, which recently saw a 24% jump in its first quarter revenue for 2022, explained that it is seeking to expand its product offerings with the new offering.In addition, it wants to drive transparency throughout the digital asset industry with the product.
Additionally, Deutsche Börse says it
will provide live trade data as well as historical Level 2 (L2) tick-level
trading plus 1 day-based (T+1) orderbook data to its distribution network by
the fourth quarter (Q4) of this year.
This, it added, will be
followed up with the introduction of historical T+1-based orderbook data from
selected digital asset exchanges.
Alireza Dorfard, the Head of
Market Data and Services at Deutsche Börse explained that the new offering will
enable the exchange’s clients to gain a deeper understanding of the
cryptocurrency market as well as analyse specific events.
“The crypto market faces
high volatility and price fluctuations. Therefore, many of our clients have a
high demand for consolidated data from centralised as well as decentralised
exchanges to develop useful crypto investment strategies,” Dorfard said.
Dorfard noted Kaiko’s
extensive catalogue of data types makes it the right partner for the
undertaking.
For her part, Ambre
Soubiran, the CEO of Kaiko, pointed out that established institutions like Deutsche
Börse are essential in making cryptocurrency market data accessible to financial
institutions.
Moreover, Soubiran noted
that Kaiko was looking forward to reinforcing the partnership in the future as
the demand for digital asset data grows.
“Established
institutions like Deutsche Börse are essential in making cryptocurrency market
data accessible to financial institutions,” she said.
More on Kaiko
According to Deutsche
Börse, Kaiko collects tick-level trade data from over 100 centralised exchanges
(CEXs) and decentralised exchanges (DEXs) for both spot and derivatives markets.
On top of that, the market data provider continuously adds new exchanges and new assets to its portfolio, it said.
“Kaiko covers about 96
per cent of the tick-level trading data from various DEXs and includes a
majority of blockchain protocols such as Ethereum or Avalanche,” Deutsche Börse
explained.
“The tick-level trading
data collected from CEXs comprises more than 150,000 instruments for spot and
derivatives markets,” the German stock exchange added.Meanwhile, Deutsche Börse generated a turnover of €161.6 billion in May as opposed to €157.6 billion generated in the same month in 2021.The May turnover was an approximate 3% increase month-on-month (MoM) for the marketplace organizer.
This article was written by Solomon Oladipupo at www.financemagnates.com.
