S&P Dow Jones Indices has announced the expansion of its indexing capabilities into the crypto-asset market.
S&P DJI has announced the launch of a dedicated crypto-asset indexing hub.
The firm, a leading purveyor of indices to the ETF industry, plans to offer S&P-branded crypto-asset indices as well as a customizable crypto-asset indexing service.
The first products out of this dedicated hub are expected to be introduced in 2021.
S&P DJI will utilize its independence, financial industry clout, and well-established index governance to help reduce the speculation-driven volatility often associated with the emerging crypto-asset segment.
The venture will be supported by pricing data supplied by Lukka, a New York City-based digital asset software company.
S&P DJI will utilize a variety of Lukka’s aggregated data services including Lukka Prime, the world’s first crypto-asset pricing methodology focused on fair market value.
Peter Roffman, Global Head of Innovation and Strategy at S&P Dow Jones Indices, commented: “For more than a century, S&P Dow Jones Indices has been a pioneer in creating innovative and relevant indices and benchmarks that reflect the global market’s ongoing growth and evolution. With digital assets such as cryptocurrencies becoming a rapidly emerging asset class, the time is right for independent, reliable and user-friendly benchmarks. We’re excited to work with Lukka, who has been at the forefront of digital asset data services, to promote more transparency in this nascent sector.”
Robert Materazzi, CEO of Lukka, added: “Our collaboration with S&P DJI is yet another milestone that bridges the gap between the crypto asset ecosystem and traditional financial services. Customers with crypto data requirements will soon have access to the most trusted data in the industry underpinned by Lukka’s institutional-quality standards, such as AICPA SOC Controls. In a rapidly maturing industry, it is paramount to build to institutional standards when working with highly respected brands such as S&P DJI. Lukka is thrilled to help drive ongoing innovation in collaboration with S&P DJI.”