Hong Kong Exchanges and Clearing (HKEX) is set to launch a virtual asset index series on November 15, 2024. The index aims to provide transparent and reliable benchmarks for Bitcoin and Ether pricing, specifically catering to investors in the Asian time zone. HKEX CEO, Bonnie Y Chan, highlighted that this initiative will support informed investment decisions and bolster Hong Kong's status as an international financial center. The index will be administered and calculated by CCData, a UK-based benchmark administrator and data provider. It will include a reference index and a reference rate for Bitcoin and Ether, with the former representing a 24-hour volume weighted reference spot price using prices from leading virtual asset exchanges, calculated in real-time in U.S. dollars. The reference rate will be utilized for the settlement of financial products, calculated daily at 4:00 PM Hong Kong time.

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