Independent Reserve, the Bitcoin market, has become the only Australian Bitcoin exchange to be included in the TeraBitSM Index, the global benchmark for Bitcoin pricing.
CEO Adam Tepper said the addition was a testament to the quality of Independent Reserve’s infrastructure and strong volumes since its launch in October 2014.
“We are very pleased to be included in this index, which is regulated by the U.S. Commodity Futures Trading Commission (CTFC),” he said. “This is an example of the kind of robust, regulated environment that we hope will come to encompass the entire global Bitcoin ecosystem over time.”
The TeraBitSM Index was launched by TeraExchange® in September 2014 and is the global benchmark used to settle USD/Bitcoin Swaps on its platform. The Index aggregates pricing from a selection of the world’s largest USD-denominated Bitcoin exchanges. In addition, the Index serves as the reference price for Bitcoin derivative products trading on the North American Derivatives Exchange (NADEX), a CFTC-regulated exchange.
President and co-founder of TeraExchange®, Leonard T. Nuara, said the firm was committed to providing a solid, secure platform for Bitcoin derivative trading.
“As the pricing standard for the Bitcoin market, we are constantly evaluating the TeraBitSM Index to ensure it accurately reflects all relevant information,” he said. “Independent Reserve has added a strong new plank to the global Bitcoin infrastructure and as such, it was important to include them in our index. We’re very glad to be welcoming a robust Australian platform to our Index.”
Independent Reserve spokeswoman stated that the exchange has enjoyed strong growth and volumes over the past five months. It has launched a market-making program to ensure continuous deep liquidity, and will add multi-currency capabilities in Q1 this year.