Thomson Reuters, partnership with CryptoCompare for cryptographic information

Thomson Reuters, partnership with CryptoCompare for cryptographic information. Here's what could change.

An investigation by Thomson Reuters he recently revealed that Cryptocurrency trading by financial companies could increase significantly in 2018. The survey, conducted on 400 of the company's customers, indicated that 20% of them are currently trading cryptocurrencies in the next 3 - 12 months. In addition to this positive forecast, we recall how Goldman Sachs recently launched a cryptocurrency trading desk ready to welcome the interest of its customers, and how a fair number of smaller banks, asset managers and brokerage companies have started investing customer money in the cryptocurrency market.

However, the lack of reliable data sources presents a challenge for institutional investors and financial companies. According to Marc Bernegger, investor of cryptocurrency and a member of the Crypto Finance Group, investors need reliable sources to evaluate the digital asset market, as relying on current statistics, often reworked by exchanges, is not enough.

In order to provide trading professionals with a complete view of the cryptocurrency market, Thomas Reuters has therefore chosen to tighten one strategic partnership with CryptoCompare, the global cryptocurrency market data aggregator. In addition to the Thomson Reuters service, which uses sentiment data to track trading insights for the top 100 cryptocurrencies by capitalization, CryptoCompare will now integrate order and exchange data for 50 cryptocurrencies from a wide range of trusted exchanges on the desktop platform. Thomson Reuters, Eikon. In other words, users will now be able to have a reliable view of the cryptocurrency asset market as a whole, managing to take advantage of a better forecast of price movements with a high degree of probability.

“As the digital asset markets mature, we are seeing one rapidly growing demand from the institutional investor community for global market data, in real time, that can be considered the basis for investment decisions "- said Charles Hayter, CEO and founder of CryptoCompare. “We are excited to be entering into this partnership with Thomson Reuters, as we have always tried to provide transparency in this market. This partnership offers a great opportunity for the institutional investor community to access not only our data, but also to benefit from our experience and intuition "- he added.

Specific advantages for Eikon users include the ability to view real-time data for active trading of cryptocurrencies, thus helping them to identify more specific buying and selling opportunities.