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HKEX to Launch Virtual Asset Index Series Next Mth, Incl. Reference Index/ Rate for Bitcoin/ Ether
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HKEX (00388.HK) announced that it will launch the HKEX Virtual Asset Index Series on November 15 with an aim to offer a reliable benchmark for virtual assets and support Hong Kong's development as Asia's leading digital assets hub. The Index Series provides investors with transparent and reliable benchmarks for Bitcoin and Ether pricing in the Asian time zone. It seeks to provide a single reference price for virtual assets, where these assets are often traded at different prices across global exchanges. The Index Series will consist of the Reference Index for Bitcoin and Ether, respectively, as well as the Reference Rate for Bitcoin and Ether. The Reference Index is a 24-hour volume weighted reference spot price of Bitcoin or Ether, using prices aggregated from top-rated virtual asset exchanges, calculated in real-time and denominated in US dollars. Meanwhile, the Reference Rate is designed for the settlement of financial products, calculated daily at 4:00 pm Hong Kong time. The Index Series, which will be the first EU Benchmarks Regulation (BMR)-compliant virtual asset index series developed in Hong Kong, will be administered and calculated by CCData, a UK-registered benchmark administrator and virtual asset data and index provider. More details on the design and calculation methodology of the Index Series will be announced in due course. AAStocks Financial News |
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