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Close, an established provider of software and data for digital assets, has partnered with global business information provider IHS Markit to redistribute Lukka’s “institutional level” blockchain and cryptographic data products. They include Lukka Prime and Lukka Reference Data, as part of IHS Markit’s extensive offering of pricing, valuation and reference data. This will allow funds to easily add virtual currencies and other digital assets to their investment portfolios in accordance with regulatory guidelines.
Lukka’s software and data solutions aim to “transform” complex blockchain data or Distributed Ledger Tech (DLT) technology into “easy to use” information to support routine business operations.
As mentioned in a version shared with CI:
“Built to true institutional quality standards, Lukka was the first and currently only middle and back office digital asset provider to receive AICPA SOC 1 Type 2 and SOC 2 Type 2 certifications.”
Robert Materazzi, CEO of Lukka, noted that when traditional funds and companies start adding digital assets to their investment portfolios and balance sheets, they will try to find “reputable” service providers, such as IHS Markit, to provide services. ” equivalents “.
Materazzi revealed that his company is seeing the adoption of digital assets truly accelerated as indicated by announcements from the Office of the Comptroller of the Currency (OCC), which has allowed nationally established banks to hold digital currencies.
Materazzi noted:
“Crypto is here. Any company that only talks about it in innovation labs will miss out on huge opportunities. However, with 11 years of poor oversight and standard setters involved, aspects such as data quality are key to being included in supplier selection. the goal of our partnership with IHS Markit: to offer institutional quality data services to the world while adopting crypto. “
Tasha Gonska, Head of Americas Business Development for IHS Markit Pricing, Valuations and Reference Data, said her company’s partnership with Lukka will aim to offer “continuous” access to an effective solution for fair market pricing on currencies. digital and other virtual resources.
Gonska added that as the demand for digital assets continues to grow, this collaboration with Lukka could further expand the strength of their extensive valuation experience, “while bringing financial markets further transparency on complex and dynamic assets.”
Lukka Prime is a proprietary pricing methodology and fair market value (FMV) pricing service for crypto-assets. Prime can be used to “directly address the recent SEC guidelines regarding fund valuation, specifically, the use of executed prices instead of volume-weighted average prices (VWAPs),” the release notes.
Additionally, Lukka Prime can act as the “independent pricing source that the SEC guidance requires to serve as a control over pricing data that may be offered or used by fund managers.”
Lukka Reference Data is a collection of over 6,000 digital assets, more than 27,000 crypto-asset derived ticker symbols, and thousands of trading pair symbols and other reference data in the digital asset ecosystem.
As noted in the announcement:
“The distributed nature of digital assets often creates data consistency issues that can become a barrier to entry for companies. Lukka offers a standardized identification, the Lukka ID (LID), equivalent to ISIN or CUSIP in the traditional ecosystem and can be used to populate Homeland Security Masters. “
IHS Markit pricing, valuation and benchmark data enable companies to “optimize” trading and reduce overall risk through “independently priced” pricing in fixed income, credit and derivatives markets, including bonds, leveraged loans financial, CLO and illiquid “hard to value” securities. IHS technology is “complemented by transparent methodologies, flexible delivery services and a global team of professionals with transversal skills”.
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