Analytics and financial markets solutions provider IHS Markit recently announced a new partnership with blockchain firm Lukka. It will now include two new data packages for clients who seek to add digital assets to their portfolios.
What will the new partnership bring?
The new partnership between the two firms will add Reference Data and Lukka Prime data packages to the IHS Markit portfolio, which comes with a variety of valuation and data products. These two relevant data packages will help clients who want to add digital assets to their portfolios. They will also receive data in a format that they are accustomed to in terms of traditional players. This collaboration will help clients in adding popular digital currencies and other digital assets to their portfolios which will remain fully compliant with existing regulations.
Lukka provides software and data solutions that are useful in transforming blockchain data into easy-to-use information that can support a firm’s operations like regulatory and financial reporting. The capabilities will now be available as a part of IHS Markit’s popular suite of data offerings. It will be useful for institutional players with reliable reference data and pricing that supports investment operations.
A fruitful partnership
Head of Americas Business Development for IHS Markit Pricing, Valuations, and Reference Data, Tasha Gonska commented on the partnership and said,
“Our partnership with Lukka will deliver financial institutions seamless access to a best-of-breed solution for Fair Market Value pricing on cryptocurrencies and other digital assets. As the demand for these innovative holdings continues to grow, this collaboration expands the strength of our comprehensive and industry-leading valuations expertise, while bringing financial markets additional transparency on complex and dynamic assets.”
Lukka Reference Data provides mappings to more than 90 trading venues covering thousands of digital assets. Lukka Prime provides Fair Market Value (FMV) based pricing services for digital assets and providers fiat values for crypto balances. These values come via suggested principal markets and executed prices there.
IHS Markit is going full-fledged into blockchain technology. Last year, it acquired a minority stake in Cobalt, a London-based technology business that seeks to modernize forex transactions settlement.