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HKEX Launches First EU BMR-Compliant Virtual Asset Index Series, Boosting Hong Kong's Digital Asset Hub Status

October 29, 2024
HKEX Launches First EU BMR-Compliant Virtual Asset Index Series, Boosting Hong Kong's Digital Asset Hub Status
  • Hong Kong Exchanges and Clearing Limited (HKEX) has officially launched the HKEX Virtual Asset Index Series, marking a significant development in the digital asset space as of October 28, 2024.

  • The Index Series will be administered and calculated by CCData, a UK-registered benchmark administrator, ensuring credibility and accuracy.

  • Designed to enhance Hong Kong's position as Asia's leading digital assets hub, the Index Series aims to provide a reliable benchmark for Bitcoin and Ether pricing.

  • A daily Reference Rate will be calculated at 4:00 pm Hong Kong time, facilitating the settlement of various financial products.

  • The Index Series features a 24-hour volume weighted Reference Index for Bitcoin and Ether, with prices sourced from leading virtual asset exchanges.

  • Notably, this Index Series will be the first EU Benchmarks Regulation (BMR)-compliant virtual asset index series developed in Hong Kong.

  • Set to go live on November 15, 2024, the series will provide transparent reference prices for virtual assets traded within the Asian time zone.

  • HKEX CEO Bonnie Y Chan highlighted the Index Series' role in addressing the growing demand for virtual assets and aiding investors in making informed decisions.

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