Hong Kong Exchanges and Clearing is set to unveil a series of virtual asset indices on November 15, as announced by the company on Monday. According to Bonnie Y Chan, CEO of HKEX, "The provision of transparent and dependable real-time benchmarks aims to facilitate informed investment decisions, ultimately contributing to the growth of the virtual asset ecosystem and solidifying Hong Kong's position as a global financial hub." The administration and calculation of the index will be handled by CCData, a UK-based benchmark administrator and provider of virtual asset data and indices, which is a subsidiary of CoinDesk.
The index series will comprise a reference index for bitcoin and ether, along with a reference rate for both cryptocurrencies. The reference index represents a 24-hour volume-weighted average price of bitcoin or ether, compiled from prices on top-rated virtual asset exchanges, and will be calculated in real-time in US dollars. The reference rate, designed for the settlement of financial products, will be calculated daily at 4:00 pm Hong Kong time.