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.