The indices will be used for benchmarking against European markets and for the creation of new products, providing users of the online Saxo Trader platform with real-time and historical data.

“Saxo Bank is always looking to improve the trader’s position and with Cboe’s introduction of their European indices, Saxo Bank sees the opportunity to make a good indices product available,” said Søren Nedergaard, global head of CFD’s and listed products at Saxo Bank.

“Furthermore, it is a strong base component for calculating the Saxo Bank indication of interest price.”

Cboe Europe currently offers 57 indices, calculated in both price and net return, across 15 markets including 25 national indices, five pan-European indices and two Brexit 50/50 indices. They aim to provide investors and market participants with a low-cost, high-quality alternative to existing benchmarks.

Earlier this month, Cboe gained regulatory approval to act as a benchmark administrator under Europe’s Benchmark Regulation.

The move means the exchange group’s suite of indices are compliant with the requirements, including high standards of governance, oversight and transparency.  

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Developed through its partnership with MarketPsych Data in 2012, the indices analyses data in real-time across 2,000 news websites and 800 financial social media channels to produce data aimed at driving investment decisions.

The upgrade has seen 400 news and social media sites, focused mainly on cryptocurrencies, added to the indices alongside coverage of national fixed income securities and stock market indexes.

The data can also be incorporated into quantitative and qualitative analysis for investors to distinguish between patterns across their respective business.

Source selection, entity recognition and contrition of several TMRI have modified and implemented across the feeds to provide greater precision of measurements compared to the prior version.

“News and social media are driving the investment and risk management process more than ever with the continuing rise of passive and quant-driven trading,” said Austin Burkett, global head of quant and feeds at Thomson Reuters.

“As the financial marketplace rises in complexity, so too does the need to provide our clients with not only the relevant data, but the tools to help them manage and analyse that data. MarketPsych 3.0 helps deliver another layer of analysis and value-add in the investing process.”

Thomson Reuters provides cross-asset data on both traditional and emerging asset classes like crypto assets. It offers pricing on Bitcoin, Etherum, Litecoin, Ripple and Bitcoin Cash through its desktop platform Eikon.

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Releasing its new strategic plan today, the pan-European exchange operator said it will strengthen its core business but also look to “capture strategic opportunities”. As such, it has allocated between €100-150 million over the next three years to fund development costs and acquisitions.

Key priorities for its development including becoming the main exchange for European Tech SMEs, become a one-stop exchange-traded fund platform, launch Euronext branded indices and deliver clearing choice.

Euronext has already taken steps to deliver on broadening its clearing offering, having announced late on Thursday that it is in exclusive talks to buy a 20% stake in EuroCCP for €14 million.

Euronext hopes its new initiatives will bring in approximately €70 million of extra revenue by 2019, alongside a projected core business revenue growth of 2%.

The exchange operator’s decision to take a stake in EuroCCP and to expand via further acquisitions could be a response to the changing competitive environment in Europe. With its two main competitors, London Stock Exchange and Deutsche Boerse, currently in talks to merge, it has been speculated that trading and clearing in Europe could become less competitive as a result.

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Index provider Markit has confirmed it has been selected as the provider to administer and calculate UBS Investment Bank’s investible indices.

In announcing the deal, Markit’s co-head of Information, Adam Kansler, said he hoped that the deal would prove allow UBS an ‘efficient and transparent alternative to managing its indices in-house.

He explained: “With Markit’s deep expertise in providing complex and diverse indices and our robust systems and compliance framework to address existing and emerging benchmark regulatory requirements, we can provide UBS with an efficient and transparent alternative to in-house index management.

“This will allow the bank to more easily achieve regulatory best practices and concentrate on its core business of delivering financial products to its clients.”

Xavier de la Porte du Theil, head of Investment Strategies Structuring at UBS, added: “Markit’s governance and oversight structure, together with its deep index expertise, will help UBS satisfy regulatory best practices while also enhancing our ability to efficiently deliver leading index products to our clients.”

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