BTC MtR Index

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Measured Liquidity (in BTC)
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Cost of Liquidity
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The index is updated every 1 minute


 

What is it?

 

The BTC MtR Index is a financial indicator that reflects the market price for a certain amount of Bitcoin (“Measured Liquidity”), expressed in Argentine Pesos per Bitcoin (BTC / ARS pair), in the Price Providers in the Argentine Republic. Along with the market value surveyed for said amount of Bitcoin, the implicit cost for a purchase or sale Trade for that amount is reported ("Cost of Liquidity"). The Index is calculated every 1 minute, 7 days a week. The data capture is done automatically through queries to the API-Rest of each Price Provider.

 

They are those Exchanges and / or Brokers / Dealers of cryptocurrencies that satisfy the eligibility conditions established in the Index Methodology and that provide buy and sell offers of the BTC / ARS pair on a regular basis through APIs. - Exchanges are the markets that implement the purchase and sale of Bitcoin by their clients through a central Order Book, where the negotiations are given through the entry of orders that are specified according to the price-time priority . - Brokers / Dealers are those companies that implement the purchase and sale of Bitcoin against their own inventory, offering prices for their clients to operate directly against them.
First, any company that wants to become a Price Provider must sign with MtR the Participation Agreement “BTC Matba Rofex Index”. Among the most important requirements, the following stand out: have for all its clients the Policies for the Prevention of Money Laundering and Financing of Terrorism; have an Internal Compliance Officer; have been in business for at least 1 year prior to the incorporation of the company to the BTC MtR Index; facilitate the cash Trade of the BTC / ARS pair, with deposit of Argentine Pesos through bank transfer, from an Exchange or offering Broker / Dealer services.

 


 

Methodology

See the BTC MtR Index Methodology and the MtR Indices API documentation
Methodology API documentation

 


 

How is it calculated?

 

The Index is prepared from the survey of offers to buy and sell Bitcoin against Pesos (pair BTC / ARS) among Eligible Price Providers, through the following procedure:

 

  • In the case of Exchanges, all the buy and sell offers that are active in the order book at the time of the consultation will be taken, excluding offers that exceed the median spread. From each Exchange, an average average price weighted by the size of the offers and an amount of BTC surveyed is obtained, for a round trip transaction at said price

  • In the case of Brokers / Dealers, buy and sell offers are taken assigning a volume of 1 BTC per side. From each Broker / Dealer the average price quoted for an amount of 1 BTC will result.

  • The average price calculated for each Exchange and Broker / Dealer with the amount of BTC surveyed, are consolidated into a single price vector, and prices that are outside the interquartile range are eliminated, to exclude outliers.

  • Finally, the BTR MtR Index will be the weighted average of the prices, weighted by the volume surveyed in each Exchange and / or Broker / Dealer.

 

 


 

Technical Advisory Committee

 

The Technical Advisory Committee (CTA) is responsible for the Index and is made up of a minimum of 3 and a maximum of 5 members. The appointment of its members as well as the establishment of its operating regime corresponds to the Board of Matba Rofex at the proposal of the Financial Products and Exchanges Committee, and will be made up of a technical representative of MtR, who will act as Coordinator and by recognized market experts of cryptocurrencies.

The main functions of the Technical Advisory Committee are:

  • Supervise that the calculation of the Index is carried out according to the BTC MtR Index Methodology.

  • Guarantee the proper functioning of the Index for its use as an underlying in the trading of derivative products.

  • Study and approve, when it deems it appropriate, changes in the Methodology for calculating the Index.

  • Report any modification regarding the composition and calculation of the Index.

  • Periodically review the Eligibility Conditions of the Price Providers of the BTC MtR Index.

 

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Gustavo Neffa

Partner and Director of Research for Traders and Fin Guru

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Sebastian resano

Digital Assets Consultant. Blockchain Research & MBA

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Candelaria Villagra

Deputy General Manager Digital Banking BIND

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Juan Pablo Pisano

UCEMA Professor. UTN Engineer. QUANT

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Pricing Providers

Exchanges

Brokers / Dealers


Warning


This Index does not require, and therefore does not have, authorization from the National Securities Commission for its preparation and publication according to the current regulatory framework.

The investing public is suggested to take into account the warnings issued by the Central Bank of the Argentine Republic and the National Securities Commission in relation to crypto assets, which can be consulted at the following link: https://www.argentina.gob.ar/news / alert-of-bcra-and-la-cnv-about-the-risks-e-implications-of-the-cryptoassets