S&P Dow Jones Indices Builds Crypto Indexing Capabilities with Lukka
S&P Dow Jones Indices (S&P DJI) is expanding into the cryptocurrency market through a partnership with Lukka, a crypto asset software and data company. This collaboration will provide S&P DJI-branded cryptocurrency indices and benchmarking solutions, utilizing Lukka's proprietary pricing data. This move aims to meet the growing demand for reliable cryptocurrency benchmarks, promoting transparency and mitigating risks associated with the volatile crypto market. The initiative is seen as a timely response to the rising interest in digital assets.
- Launch of cryptocurrency index capabilities enhances S&P DJI's offerings in the growing digital asset market.
- Partnership with Lukka leverages proprietary data to improve accuracy and reliability of crypto asset pricing.
- Potential for reducing risks associated with traditional cryptocurrency investments through S&P DJI's established governance.
- None.
NEW YORK, Dec. 3, 2020 /PRNewswire/ -- S&P Dow Jones Indices (S&P DJI), the world's leading index provider, is launching global cryptocurrency asset index capabilities with Lukka, a leading New York City-based crypto asset software and data company. S&P DJI will provide S&P DJI-branded and customized indexing and benchmarking solutions supported by Lukka's proprietary crypto asset pricing data.
As the market for cryptocurrency assets has evolved in recent years, investor interest in benchmarking and index-based solutions based on crypto and blockchain assets has grown and reinforced the need for reliable pricing data. S&P DJI is utilizing a variety of Lukka's aggregated data services including Lukka Reference Data and Lukka Prime, the world's first Fair Market Value-focused pricing methodology for crypto assets.
These new cryptocurrency index capabilities will make it easier for investors to access this emerging technology-driven asset class while potentially mitigating some of the common risks associated with this traditionally speculative market. S&P DJI's well-established index governance and independence can provide diversified exposure from a series of branded and custom indices supported by Lukka's institutional quality data.
"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," said Peter Roffman, Global Head of Innovation and Strategy at S&P Dow Jones Indices. "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."
"Our collaboration with S&P DJI is yet another milestone that bridges the gap between the crypto asset ecosystem and traditional financial services," said Robert Materazzi, CEO of Lukka. "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."
ABOUT S&P DOW JONES INDICES
S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has been innovating and developing indices across the spectrum of asset classes helping to define the way investors measure and trade the markets.
S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit www.spglobal.com/spdji/.
ABOUT LUKKA
Founded in 2014, Lukka serves the largest digital asset institutions with middle and back office software & data solutions. Lukka bridges the gap between the complexities of blockchain data and traditional business needs. Its customers include Digital Asset Exchanges and Trading desks; CPA & Accounting Firms, Fund and Financial Auditors, Fund Administrators, Miners, Protocols, individuals and more. All of Lukka's products are created with institutional standards, such as AICPA SOC Controls, which focus on accuracy and completeness. Lukka is based in New York City. For information about Lukka, visit https://lukka.tech/
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SOURCE S&P Dow Jones Indices
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