Hong Kong Exchanges and Clearing Limited (HKEX) said it will launch the HKEX Virtual Asset Index Series on November 15, 2024. These indexes will offer benchmark pricing for popular virtual assets, including Bitcoin and Ethereum, to support Hong Kong’s growth as Asia’s primary digital asset hub.
The index aims to assist investors by offering a transparent and accurate reference price for these assets during Asian trading hours. It seeks to provide clear, unified prices for Bitcoin and Ethereum, addressing inconsistencies often observed between global exchanges.
HKEX stated that the index will utilize a 24-hour volume-weighted price, sourced from leading virtual asset exchanges, to ensure accuracy and transparency.
It will also incorporate real-time U.S. dollar pricing, calculated in collaboration with UK-based CCData, a virtual asset data and index provider. Furthermore, it will comply with the EU’s Benchmark Regulation (BMR), distinguishing it as Hong Kong’s first BMR-compliant virtual asset index.
Peter Chan, Chief Executive of HKEX Group, stated that HKEX is excited to support the region’s growing interest in virtual assets by offering reliable and transparent tools that allow investors to make informed choices.
He emphasized that this launch supports the healthy development of virtual assets in Hong Kong, reinforcing the city’s position as a global financial center.
This initiative aligns with the Hong Kong government’s push to promote a dynamic virtual asset ecosystem, part of a policy laid out in 2022. The HKEX Virtual Asset Index Series represents a significant step in this direction, providing investors and the public with valuable data on the trends shaping the digital assets market.
The index will not only include pricing for Bitcoin and Ethereum but will also offer daily exchange rates calculated at 4:00 p.m. Hong Kong time to aid in financial product settlement.
Hong Kong Exchanges and Clearing Limited (HKEX) is a premier financial exchange company based in Hong Kong, established in 2000 from the merger of the Stock Exchange of Hong Kong, the Hong Kong Futures Exchange, and their clearing houses.
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As a critical player in global finance, HKEX operates a range of financial markets, including equities, commodities, and derivatives markets, and plays an essential role in connecting mainland Chinese capital with international investors through various trading links.
HKEX is also expanding into digital assets and blockchain technology, reflecting Hong Kong’s drive to become a leading fintech hub.
Recently, the company has considered developing digital asset trading platforms and related infrastructure, as Hong Kong increasingly establishes itself as a leader in blockchain innovation and financial technology regulation.
The importance of HKEX extends beyond its local impact; it serves as a gateway for investors seeking exposure to China’s growing economy while upholding high regulatory standards that appeal to global investors.
