The Moscow Exchange announced the launch of the bitcoin index. The calculation and publication of the indicator under the MoexbTC ticer will begin on June 10.
Mechanics of the new index
The index is calculated once a day at 12:30 Moscow time. A detailed methodology can be found on the website of the trading platform.
MoEXBTC is based on data on the prices of unlimited futures and swaps by a pair of BTC/USDT. Information is collected from the four largest centralized crypto -streaks: Binance, Bybit, OKX and BITGET.
The index itself is a weighted average value of prices from these trading floors. Review the list and weight of the platforms will be quarterly to reflect the current situation in the market.
In the future, the index can become a basic asset for creating new financial instruments. This opens the way to launch products traded on the exchange based on the price of the first cryptocurrency in the traditional Russian market, the press release said.
“Symbolic step”
The co -founder of the Encry Foundation Roman Nekrasov, in the comment, noted that at this stage the launch is more likely a symbolic character “from the point of view of direct influence on the market”. The index serves as a guide for professional participants, can be used in calculations, but its practical value will be revealed only after the appearance of derivatives, “if any.”
In his opinion, the appearance of bitcoin index is part of a wider strategy to integrate crypto assets into the usual financial system.
He also drew attention to the caution and limited pace with which the Russian infrastructure is moving:
CEO Technobit Alexander is also seized on launching the index foundation for future products. In his opinion, the tool can serve as a basis for creating derivative tools.
The speaker emphasized that such a model does not contradict Russian legislation, which prohibits bitcoin turnover, but not trading derivatives to the indicator reflecting the price of the first cryptocurrency.
The need for a standardized index, according to him, is dictated by the nature of the crypto market:
Ultimately, in the opinion of it, the exchange itself will benefit from these steps:
Recall that according to the results of the debut session, the volume of bitcoin -TF futures exceeded 423 million rubles, and the number of transactions reached almost 8600.
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Source: Cryptocurrency
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