IPC Partners with CBOE to Provide Cryptocurrency Data

NYC Financial District
Image credit: pixhere CC public domain

IPC’s new partnership

IPC has partnered with Cboe Global Markets, Inc. (CBOE) to provide cryptocurrency data on IPC`s Connexus Cloud. CBOE will provide feed premium and feed summary data on three cryptocurrency pairs. These include Bitcoin to USD, Ether to Bitcoin, and Ether to USD.

Headquartered in New York, IPC is a service and technology provider powering global financial markets. It assists clients in solving problems from anticipated change, thereby setting the standards with industry expertise, comprehensive technology, and exceptional service. Furthermore, it brings together diverse global financial ecosystems spanning across market participants and asset classes. As an ecosystem enabler, it empowers communities to adapt to market challenges and changes, as well as collaborate with customers to help make them secure and compliant.

IPC`s Connexus Cloud is a high-performance cloud solution for enterprise compliance. In addition to assisting firms to scale rapidly, thus resulting in a significant competitive advantage, it integrates inter-dealer brokers, energy firms, liquidity venues, clearing/settlement firms, trade life cycle services and market data connecting more than 6,600 capital market participants across the globe. It also grants connectivity to liquidity venues in different countries.

Users of IPC`s Connexus Cloud will now have access to CBOE Futures Exchange (CFE) as well as data on XBT (CBOE Bitcoin USD) futures. XBT futures are contracts that are cash settled and denominated in dollars based on Gemini’s auction price for bitcoin. Founded in 2014, Gemini Trust Company (Gemini) is a digital asset custodian exchange that enables customers to store digital assets in addition to buying and selling them. It is subject to compliance standards of the New York State Department of Financial Services.

Chicago futures trading
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A different era of futures trading — Chicago, 1992. By Lars Plougmann from United States – Chicago Board of Trade, CC BY-SA 2.0, https://commons.wikimedia.org/w/index.php?curid=47731179

Unique services

CBOE offers investment solutions and cutting-edge trading to investors around the world. Headquartered in Chicago, the company provides seamless solutions that enhance customer experience. It also connects global markets with world-class technology. In addition, it offers diverse trading products across multiple geographies and asset classes such as futures, options, exchange-traded products (ETPs) and global foreign exchange (FX) based on CBOE`s Volatility Index.

While CBOE is one of the world’s biggest exchange holding companies, it’s also on the forefront of creating cryptocurrency financial instruments, along with firms such as Morgan Stanley. Kevin Carrai (CBOE Vice President and Global Head, Market Data and Access Services) stated that: “CBOE was the first global exchange group to launch regulated cryptocurrency futures in the United States and we are committed to helping foster a more mature and orderly global marketplace for digital assets. An important part of this effort is efficient and widespread distribution of trade data, to enable investors to make better decisions. To that end, we’re delighted to work with IPC to jump-start this effort.”

This was echoed by Mike Smith (Director Global in Exchange Relations Management at IPC), who stated, “Cryptocurrency trading volume continues to grow globally, with analysts projecting it to reach nearly one trillion dollars this year. At IPC we are addressing this dynamic, exciting and developing marketplace in which a vast range of investors are increasingly interested in trading, but given the varying offerings and exchange options, seek strong data to inform their participation. By supporting financial market participants with the real-time data and information they need, we are empowering their participation in the growing cryptocurrency market.”

With offices in New York, Kansas City, Singapore, London, San Francisco, Ecuador and Hong Kong, CBOE`s trading venues are among the largest options exchange in the U.S. and the largest stock exchange by value traded in Europe. In addition, the company is the second-largest stock exchange dealer in the U.S. and a global leading market for ETP trading.


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