The world’s leading and the most diverse derivatives marketplace, IHS Markit, might launch a cryptocurrency index product. Currently, the plan isn’t in the pipeline yet but the intention came through a statement made by the company’s President of Financial Services, Adam Kansler, during its earnings calls on Jan. 13. The company executive also mentioned that the eagerness towards launching a crypto index has been sparked by the bullish wave of Bitcoin (BTC).
IHS Markit Could Launch Crypto Index Product
IHS Markit’s president, Adam Kansler said that the company has already made a strategic partnership with cryptocurrency firm Lukka. The leading derivatives marketplace is using Lukka for retrieving cryptocurrency pricing and referencing data.
Kansler has mentioned that the firm uses Lukka to help in the valuation of their clients’ portfolios. That makes it enough for the derivatives marketplace to launch a crypto index with the help of Lukka. He adds:
“So it’s an area where we’ll continue to focus not just on the valuations side, but probably even moving into the index side in the near future as well.”
Meanwhile, Chairman and CEO of IHS Markit, Lance Uggla, revealed that millennial in his firm believe in launching cryptocurrency tools and products:
“Of course, we have every millennial that works for us thinks we should have a major pricing, data services, software, and participation around a marketplace that is really legitimizing itself. So we’ve got to take it seriously.”
IHS Markit Takes Notice Towards the Crypto Industry
Even though IHS Markit belongs from the world of the traditional financial sector, it has recently seemed to take notice of the cryptocurrency industry.
In Nov. 2020, IHS Markit partnered with cryptocurrency firm Lukka for developing crypto data products for Wall Street. Meanwhile, a unit of S&P Global that has agreed to buy IHS Markit for $44 billion has already made plans to build a crypto index product with Lukka.