Derivatives exchange Benchmark & Rankings

Explore the latest centralised derivative exchange rankings from CCData's Exchange Benchmark

150+
Exchanges
200+
Metrics
15+
Decentralised Exchanges
$3bn
Underlying AUM

What Is The Exchange Benchmark?

CCData's Exchange Benchmark was created in 2019 to bring clarity to the digital asset exchange sector. Since launching, it has become the industry standard for evaluating the risk associated with over 200 centralised and decentralsied digital asset exchanges.

In 2022, the Exchange Benchmark was expanded to assess the risk associated with derivatives trading venues. These exchanges are ranked using a similar methodology to Centralised Exchanges, with the addition of metrics that are unique to derivative trading venues.

How Does It Work?

The Exchange Benchmark is underpinned by over 200 qualitative and quantitative metrics to rank exchanges and provide a framework for assessing risk.

The report is updated twice a year and is based on thousands of hours of research.

What Do The Grades Mean?

Exchanges are assigned a grade from AA to F. AA-BB exchanges are classified as Top-Tier and B-F exchanges as Lower-Tier. This grading does not connote overall superiority, instead it represents a means of ranking exchanges according to risk.

How Are The Scores Calculated?

#1
  • A comprehensive set of categories have been established that reflect the key risk areas associated with centralised exchanges. For example, Legal & Regulation and Market Quality.
  • Each category is assigned a weighting based on its significance in evaluating risk.
#2
  • Within each category, a variety of metrics—both quantitative and qualitative—are utilised to assess an exchange's performance.
  • Points are allocated to these metrics according to their importance within the category.
#3
  • Points are aggregated within each category and then scaled according to the category's weighting. The scores from each category are then summed to produce a total score.
  • To account for the unique nature of derivatives trading venues, additional metrics have been added.
#4
  • Each exchange is assigned a final grade based on its overall score, ranging from AA to F.
  • We classify exchanges with a grade of BB or higher as ‘Top-Tier’. Top-Tier exchanges meet our minimum threshold for acceptable risk.  

Grading Breakdown

Categories & Weighting

Legal & Regulation

15%

KYC & Transaction Risk

15%

Data Provision

10%

Security

20%

Team & Exchange

5%

Market Quality

25%

Transparency

10%

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