The Toronto-based Thomson Reuters Corporation (NYSE: TRI) is set to cooperate with CryptoCompare, media focused on monitoring and analyzing cryptocurrency market data. As a result of the joint work, the companies plan to supply Thomson Reuters’ financial services for institutional investors Eikon with the data on trading 50 cryptocurrencies and orders books provided by a number of trading platforms.
Adding our data to the @thomsonreuters Eikon platform will allow trading professionals & investors to gain a comprehensive view of the #cryptocurrencies market and of market participant behaviour https://t.co/t3VJUNBu3N— CryptoCompare (@CryptoCompare) July 31, 2018
According to the head of CryptoCompare Charles Hayter, recently institutional investors started to increasingly show interest in the cryptocurrencies market. As a result, they need a proven source that will provide the necessary information in this area in an online mode for informed investment.
After Eikon integrates the data collected from stock exchanges into the platform, investors and traders in the cryptosphere can expand their own view of the market. Due to this, users will be able to track its market changes in order to find the most suitable ways of obtaining investment benefits.
WHY IS IT IMPORTANT?
1) Since its launch in 2010, Eikon has been Reuters’ major platform for the financial information. It operates with more than 400 exchanges and OTC-traded markets, as well as over 70 direct exchange feeds, delivered via low latency data feeds.
2) It is also one of the main market information terminals utilized by trading experts and brokers.