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The sixth-largest stock exchange in the world, the Hong Kong Stock Exchange (HKEX) is launching its <a href="https://www.tronweekly.com/hkexs-1st-crypto-index-set-for-nov-15-debut/">own crypto asset index series</a> next month. The HKEX Virtual Asset Index Series, which is a major development for crypto investors in Asia, is slated to be launched on November 15. 
With the new crypto asset index, traders can be assured of a unified reference price in the Asian time zone, as it is going to set a stable and regulated benchmark for Ethereum (<a href="https://yellow.com/asset/eth">ETH</a>) and Bitcoin (<a href="https://yellow.com/asset/btc">BTC</a>) prices. 
This is the first time a crypto index is being launched in Hong Kong after the EU Benchmark Regulation (BMR) standards came into force. The HKEX Virtual Asset Index Series is jointly developed by UK-based data provider CCData and the Hong Kong Stock Exchange. 
The CEO of HKEX Group, Peter Chan, informed that the new crypto index is being launched to provide traders with a real-time and transparent benchmark for digital assets. The move seeks to enhance the effective conduct of investment decisions. The HKEX Virtual Asset Index Series will act as a consistent reference point for Ethereum and Bitcoin in order to address the price fragmentation issue of the crypto market. 
Peter Chan said that this move will consolidate Hong Kong’s position as a global financial centre as it supports the development of a healthy crypto asset ecosystem, which helps investors with reliable benchmarks. 
This is part of the Hong Kong Stock Exchange’s goal of advancing its financial technology and ascertaining its presence in the crypto market. The new crypto asset index will comply with Hong Kong's 2022 policy statement and international norms. 
The new crypto asset index series will increase accessibility by offering real-time pricing via a 24-hour volume-weighted benchmark catered from multiple exchanges. The crypto index will be updated daily at 4:00 pm Hong Kong time, which would be beneficial for financial products in Asia. 
This move ascertains Hong Kong's commitment to set up Asian market-centric crypto tools in accordance with global compliance standards.

New Crypto Asset Index from HKEX To Boost Ethereum and Bitcoin Access in Asia

Yellow News

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