1 in 5 Financial Institutions Consider Cryptocurrency Trading In 2018 — SurveyApr 25, 2018 at 19:20
More financial firms are seen to go into cryptocurrency trading after a survey by Thomson Reuters found one in five financial institutions are looking to trade cryptocurrencies this year.
The survey also showed that those considering crypto trading will do so over the next three to 12 months.
The survey was conducted to over 400 clients of Thomson Reuters’ trading solutions including Eikon, REDI, and its FX platforms.
About 70 percent of those intending to trade cryptocurrencies are planning to start including digital currencies in their portfolio over the next three to six months while 2 percent over the next six to twelve months.
Thomson Reuters said the survey results indicates financial firms are looking at cryptocurrency trading as this year’s project than “something longer-term.”
“Cryptocurrency is still a relatively small part of the trading market, but this survey indicates this niche segment is starting to enter the mainstream of the financial services industry. This is a major change from a year ago,” said Neill Penney, co-head of Trading at Thomson Reuters.
“The current priority for our clients appears to be seamless access to news and data around cryptocurrencies to facilitate informed trading decisions. As a leading provider of news, data, and trading capabilities, Thomson Reuters is well-positioned to deliver solutions that address client demand in the growing cryptocurrency market,” he added.
Thomson Reuters has included crypto assets in delivering cross-asset insights. It currently provides investors prices for Bitcoin and other cryptocurrencies through flagship financial desktop platform Eikon.
The news agency also launched a new version of its MarketPsych Indices (TRMI v3.0), “which includes the first sentiment data feed for Bitcoin in addition to new and/or enhanced market sentiment data for several asset classes, new user capabilities and coverage.”
This year, it plans to introduce more capabilities in the cryptocurrency sector.