IHS Markit Likely to Join Race for Crypto Indexes on Wall Street: Exec

IHS Markit is likely to join the cryptocurrency index game, financial services company’s president Adam Kansler said during the financial information giant’s earnings call on Wednesday.

Kansler told analysts that IHS Markit already has “tactical partnerships” with crypto firms like Lukka to obtain prices and reference data for cryptocurrencies. These data points could form the foundation of a cryptocurrency index product, although Kansler said IHS Markit is currently using them to help clients evaluate portfolios.

“So it’s an area where we will continue to focus not just on the review side, but likely the index side in the near future,” he said, referring to cryptocurrencies.

IHS Markit executives confirmed on Wednesday that Bitcoin has seen generational dynamics. Chairman and CEO Lance Uggla said his company’s younger ranks are looking for more products in the crypto space, even if the company has “nothing big and important” in the pipeline.

“Of course we have every millennium that works for us, and we believe we should have comprehensive pricing, data services, software, and participation in a market that truly legitimizes itself. So we have to take it seriously, ”he said.

IHS Markit is aiming for a stronger stance on crypto on several fronts. In November, the company worked with crypto data firm Lukka to develop crypto data products for Wall Street. And a unit of S&P Global that has agreed to buy IHS Markit for $ 44 billion is already planning to develop a crypto index product with Lukka.

Representatives from IHS Markit and Lukka did not immediately respond to the request for comment.

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