Introducing the Hybrid Composite Index

As part of our continuous improvements to the BitMEX Index, we are introducing the Hybrid Composite Index to our index methodology. A Hybrid Composite Index sources prices of pairs quoted in different currencies from multiple exchanges. Those prices are then converted to a common quote currency using the relevant Conversion Index.

For example: in order to determine the index price for BCHUSD, we will source BCHUSD and BCHUSDT prices from multiple constituent exchanges and convert BCHUSDT into BCHUSD prices using .BUSDT as the Conversion Index.

Adding the Hybrid Composite Index methodology enables us to improve the reliability of our index prices by using additional price feeds.

New outputs will be added to the /instrument/compositeIndex API – sourcePrice, conversionIndex, conversionIndexPrice, and relation. Users will be able to view the data to see how we reach the Last Price of each constituent used for final index calculation and replicate the index accordingly. Changes are in Testnet now and will be available to users on the main site on 00:00:00 UTC 25 November 2020.

Please refer to the BitMEX Index page for more information and contact Support if you have further questions.