Thomson Reuters Eikon adds Bitcoin
Following Bloomberg, Yahoo and Google Finance, Thomson Reuter’s Bloomberg terminal competitor Eikon has also added bitcoin
Their press statement:
In response to strong customer demand, bitcoin/ USD prices from the BitStamp exchange have been added to Thomson Reuters Eikon. Traded rates and volumes as well as top of book quotes are all now available for you to act before the market moves
While the size of the bitcoin market remains modest – with an estimated daily volume of $60-70 million – it is proving to be extremely durable. The bitcoin market has now traded continuously for close to five years and survived the failure of Mt Gox, a major bitcoin exchange.
With online vendors such as Expedia and Dish Network accepting bitcoins as a form of payment, the bitcoin market is experiencing a surge in popularity, with many government officials beginning to recognize it as a valid means of exchange.
The rise of the crypto currency
Despite it not being considered a currency and not legal tender in almost all jurisdictions, the growing role of crypto currencies is starting to get the full attention of market players and regulators. Bitcoin is the one with largest market capitalization and by far the most common. Its components of decentralization, independence from a central banks, governments or any single institution generated a lot of traction since 2009 and more recently regulators are trying to size the efforts in order to be ready with a regulatory framework (New York Department of Financial Services being the latest one in July 14).
Despite the skepticism expressed by many counter parties, the phenomenon of crypto currencies needs to be monitored as it brings on several implications on industry assets and practices (such as payment systems and the role of the banks), but also on regulatory ground (links with anti-money laundering legislations).
How to access Bitcoin USD rates in Eikon
Thomson Reuters Eikon users can monitor Bitcoin and analysts can benefit from the data being available and comparable with other data. Finance professionals can use the News Monitor tools within Eikon to track news and link to the graphical analysis in the form of internal reports or if asked from their client base. This allows you to stay more in Insight/Pre Trade rather than Trading/post trading.
The new features include:
- Traded rates and volumes (in BTC)
- TOB Bid/Ask
- Daily summarized Open, High, Low, Close
- Intra-day and end of day charting for trades, quotes and volumes
- Time and Sales viewer to see VWAP, buy/sell etc
- Traded rate and volume history for last 3 years