The parent company of the New York Stock Exchange is getting into cryptocurrencies. Lynn Martin, President and COO of ICE Data Services joined us on set to explain why they decided to launch a new service for hedge funds and professional traders.
The intercontinental exchange is introducing a new data feed along with blockchain tech startup, Blockstream, called the Cryptocurrency Data Feed. The new digital offering will provide traders with real-time trading data for more than 15 cryptocurrency exchanges and can be used by high-frequency traders and quantitative hedge funds. Martin said providing transparency to markets was a key factor influencing the group's decision.
ICE isn't the only exchange looking at cryptocurrency data. Data players such as Bloomberg and Thomson Reuters both broadcast prices of major digital currencies on their terminals. Martin said her service is different because, with the Blockstream partnership, they'll have data for over 80% of the transaction market.
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President Donald Trump has signed the GENIUS Act into law, setting new regulations for stablecoins, a type of cryptocurrency tied to assets like the U.S. dollar.
