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BTSE teams up with @bravenewcoin to launch the BNC-BTSE Alt Coin Index (BBAX) 馃搳 BBAX tracks a basket of 4 altcoins: $ETH, $XRP, $LTC, and $EOS You can now trade BBAX Index Futures, only on BTSE.com

After the launch of the BNC-BTSE Index (BBCX) in late 2019, BTSE is now pleased to announce the launch of the BNC-BTSE Altcoin Index (BBAX).

The BBAX tracks the real-time market performance of a basket of some of the world鈥檚 largest cap cryptocurrencies. This institutional-grade index is one of the world鈥檚 first to track a range of crypto assets across multiple pricing sources at sub-second frequency.

Here is a breakdown of some of the key facts regarding BBAX:

Description

BBAX tracks the real-time market performance of Ethereum, Ripple, Litecoin, and EOS based on order books sourced from up to 8 constituent exchanges.

Constituent Exchanges & Underlying Markets

Binance - XRP/BTC, EOS/BTC Bitfinex - ETH/USD, XRP/USD, LTC/USD, EOS/USD, EOS/BTC Bitstamp - ETH/USD, XRP/USD, LTC/USD Bittrex - ETH/USD, XRP/USD, LTC/USD, EOS/BTC BTSE - ETH/USD, LTC/USD Coinbase Pro - ETH/USD, XRP/USD, XRP/BTC, LTC/USD, EOS/USD, EOS/BTC Gemini - ETH/USD, LTC/USD Kraken - ETH/USD, XRP/USD, LTC/USD, EOS/USD, EOS/BTC

Index Calculation Methodology

Once the order books from the constituent exchanges have been collected, a volume-weighted average (V-WAP) is calculated for both the bid and ask sides of the order books. With this info, a midpoint price is calculated from the bid and ask V-WAP values for every market.

The median is identified from all midpoint prices. We then calculate the absolute deviation for each midpoint price from the median (as a % of median). The absolute deviation is converted to a Price Anomaly Factor (PAF) which is used as a weighting factor in calculating the average market price for the underlying assets.

Additionally, a de-weighting threshold will be introduced to ensure outliers are disqualified in the market price calculation.

Lastly, the composite index is calculated using the weighted average of the market prices across all underlying assets.

Index Review

Each quarter the ...

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