CCData is proud to announce the rebranding of our flagship product, the CCData Aggregated Index, from CCCAGG to CCIX. While keeping the solid foundations of CCData’s FCA-regulated CCCAGG price methodology, CCIX incorporates all the benefits of CCData’s new and improved technologies. The result is a more robust, reliable, and representative real-time digital asset price.

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What is CCIX?

CCIX is a direct reference price for digital assets, providing an accurate and reliable real-time price benchmark for market participants to value their portfolios at any time. Through the implementation of a meticulous exchange selection methodology, based on CCData’s Exchange Benchmark report, CCData ensures that only the most reliable and trustworthy exchanges are included in the calculation, making the index values representative and easy to replicate. 

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Methodology

CCData’s proprietary CCIX methodology is calculated as a 24-hour volume-weighted average price, ensuring the benchmark is market-representative and replicable.

Key features include:

• 24-Hour Volume-Weighted Average: By utilising a 24-hour volume-weighted average, the CCIX methodology prioritises data from more liquid markets, thereby mitigating the influence of less stable, illiquid markets.

• Time Penalty Factor: This unique feature of CCIX methodology allows for the gradual reduction in the influence of exchanges that have temporarily halted trading. This ensures that CCIX stays abreast of real-time market changes, proven effective in high-stakes scenarios like the Bitfinex hack of 2016.

• Focus on Direct Trading Pairs: Another merit of CCIX is its focus on direct trading pairs, eliminating the complications and inaccuracies that currency conversions can introduce. 

• Stringent Outlier Detection: CCIX employs a sophisticated outlier detection system, using both real-time calculations and manual oversight. This ensures that CCIX is robust and resistant to market anomalies and manipulations.

• ‍Auditable and Replicable: True to its ethos of transparency, the CCIX methodology uses public API data in its calculations. By utilising CCData as its underlying data source and relying on direct trades, CCIX not only enhances transparency but also ensures replicability and audibility in every transaction, making it a reliable choice in the digital asset landscape.

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What Are the Differences Between CCCAGG and CCIX?

While retaining the CCCAGG methodology, CCIX incorporates all the new features introduced in CCData’s recent system migration.

Key improvements include:

• Enhanced code flexibility: CCIX’s architecture separates configurations, calculations, and outputs into distinct services. This division minimises the potential for unintended side effects across the system when updates or changes are made to specific components. Additionally, CCIX's new code allows CCData to quickly customise any parameters, and to schedule configuration changes for any time or day.

• CCIX Utilises CCData’s V2 Input Data: CCData's V2 integrations leverage both Websocket and REST APIs from exchanges, ensuring a comprehensive dataset. This dual-connection approach not only completes the data pool but also significantly reduces latency. The strategy mitigates the risks associated with relying solely on streamers by guaranteeing data recovery through the REST API, ensuring no data loss and enhanced reliability.

• Enhanced Precision: While CCCAGG prices were generally rounded to 2 decimal digits, CCIX is not rounded, allowing the user to get precise  and accurate prices. 

• Historical Tick Data Granularity Available: CCData’s new output service captures and stores every historical tick message. These messages can now be accessed through CCData’s Rest API, enabling users who do not collect the live data to still access tick data on a historical level.

• Metadata Available: CCData’s new output service archives all input data involved in each CCIX calculation. This detailed record not only simplifies the process of replicating and auditing calculations, but also enables CCData to thoroughly verify the efficacy of its methodologies across all scenarios. 

• More Informative Fields In Tick Data: Lifetime values and statistics are now available in our last tick endpoint. Check out all CCIX endpoints available: here 

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Use Cases

CCIX Reference Price Indices are designed to provide the true market price of traded digital asset pairs for cryptocurrency traders and investors to value their portfolios at any time. CCIX provides users with a reliable and robust price by averaging exclusively direct trades for each individual cryptocurrency pair.

• True Market Price for Cryptocurrency Pairs: CCIX Reference Price Indices are developed to give cryptocurrency traders and investors an accurate representation of the market price for traded digital asset pairs. This is crucial for anyone looking to assess the value of their portfolio at any given time. By focusing on direct trades for each cryptocurrency pair, CCIX ensures that the prices provided are both reliable and reflective of the actual market conditions.

• Real-time NAV Calculations (iNav and iOPV): CCIX supports real-time Net Asset Value (NAV) calculations, including iNav (indicative Net Asset Value) and iOPV (indicative Optimised Portfolio Value). This feature is particularly useful for exchange-traded products, such as crypto ETFs (Exchange Traded Funds).

• Derivatives Settlement Price: Exchanges can leverage CCIX to settle futures contracts by using a reliable and up-to-date price. This is crucial for derivatives trading, where accurate settlement prices are essential for the fair and efficient execution of contracts. 

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Explore The Data

CCData's rebrand of CCCAGG to CCIX marks a pivotal enhancement in our digital asset offering. This upgrade maintains the trusted CCCAGG methodology while introducing significant improvements such as increased code flexibility, comprehensive data integration via Websocket and REST APIs, exact pricing, and access to extensive historical data and metadata. These advancements position CCIX as a premier choice for those in need of accurate digital asset pricing in real-time.

CCIX also supports CCData's Digital Asset (DA) Fixings, providing reliable end-of-day reference prices for traders and investors looking for accurate portfolio valuation at day's end. This integration ensures that users benefit from a methodology that accurately reflects the market, supporting various applications from portfolio valuation to derivatives settlement.

To explore CCIX's full potential and understand how it can improve your digital asset trading and investment strategy, visit our website. Alternatively, you can access the data for yourself via our API here.