Lukka’s Pricing Integrity Oversight Board votes to include the rapidly growing exchanges in the exclusive list of Lukka Prime qualified pricing sources.
NEW YORK–(BUSINESS WIRE)–Lukka, the leading enterprise crypto asset data and software provider, announced today that FTX and FTX.US pricing data will now be incorporated into the Lukka Prime pricing and valuation data methodology. Lukka Prime is the most widely used Fair Market Value crypto asset pricing data among businesses and financial institutions, allowing for the reporting of GAAP and IFRS aligned crypto asset valuations.
The list of exchanges included in Lukka Prime’s methodology is exclusive, overseen by Lukka’s Pricing Integrity Oversight Board. Adding a new venue requires intense analysis and scrutiny by the Pricing Integrity Oversight Board on the exchange’s trading practices, policies, data integrity, venue’s KYC and AML practices, trading policies, as well as the various criteria related to liquidity and volume. As of today, FTX and FTX.US exchanges are eligible as primary markets in the Lukka Prime valuation methodology. This means businesses and financial institutions that use Lukka Prime for reporting purposes will leverage FTX and FTX.US pricing data within their reporting framework.
Lukka Prime is a uniquely designed crypto pricing data source. It uses a proprietary process to determine the primary market at any given point in time and provide a Fair Market Value price for liquid crypto assets. The primary market of an asset then changes in accordance with the methodology factors (the Lukka Prime methodology is fully transparent and you can read the white paper here).
“Lukka remains committed to ensuring our products continue to provide the most representative, highest quality institutional standards available in the market today,” said Dan Huscher, Lukka’s Head of Data and Analytics. “Adding FTX and FTX.US to the Lukka Prime methodology was a carefully calculated decision based on metrics like volume, liquidity, and many other key factors that consider less quantitative factors like KYC and AML practices. The Pricing Integrity Oversight Board will continue to methodically evaluate new additions as seen fit.”
Lukka Prime was launched in 2019 as the world’s first Fair Market Value pricing methodology for crypto assets. Lukka developed the methodology in response to a global need for accurate post-trade pricing and valuation data for crypto assets. Until Lukka Prime’s launch, the only available crypto asset pricing data for business use consisted of raw market data or VWAPs – often averaged across many different exchanges and venues, frequently resulting in asset valuations that do not represent true market price of an asset but also not appropriate under Generally Accepted Accounting Principles. Lukka Prime addressed that need in the industry and is now the most trusted source for crypto asset valuations.
Lukka’s Head of Data and Analytics, Dan Huscher is available for interviews. Please contact [email protected].
About Lukka
Founded in 2014, Lukka serves the largest crypto asset institutions with middle and back-office data & software solutions. Lukka solves the very unique complexities of crypto (and blockchain) data for businesses so that they can adopt digital assets into their businesses. Its customers include Crypto Asset Exchanges and Trading Desks, CPA & Accounting Firms, Funds, Fund Administrators, Fund Auditors, Financial Auditors, Miners, Protocols, individuals, and any business that interacts with crypto transactions. Lukka’s products are created with institutional standards, such as AICPA Service and Organization Controls (SOC), which focus on data quality, financial calculation accuracy & completeness, and managing technology risk. Lukka is a global company currently headquartered in New York City. For information about Lukka, visit https://lukka.tech/.
Contacts
Dan Huscher
[email protected]
If you enjoyed this article and want to receive more valuable industry content like this, click here to sign up for our digital newsletters!
