The BNC Bitcoin Liquid Index (BLX) API, calculates a USD price point for one bitcoin at tick intervals of 30 seconds, as calculated by the extensive BNC-BLX methodology. This API offers a live feed & support for fine granularity historic tick-data for bitcoin market trading, dating back to the beginning of trading on MtGox in early 2010. End-of-Day (EOD) Time & Volume-Weighted-Averages (T-WAP & V-WAP) also included.
BNC have developed the Liquid Index product in order to fulfill a marketplace requirement for a single reliable fair price for Bitcoin based on the majority of trusted real world trading activity.
The BNC-BLX was constructed by Wall St professionals to create a truly comprehensive Bitcoin Price Index for:
The Liquid Index calculates a USD price point for one bitcoin at tick intervals of 30 seconds. Incoming transactions are evaluated carefully for inclusion in the calculation as part of this real-time process. The volume weighted average of the transactions from each exchange is taken and then the base exchange prices are combined using BNC's proprietary 3-tier technique. This is rules-based on the trading history preceding the tick and is designed to allow the Index to be responsive to sudden market movement while limiting the impact of outlier transactions.
Transactions that are not in USD are converted at official current international rates. Currently, this only applies to trades from BTC China for their BTC/CNY transactions & Kraken for their BTC/EUR Transactions. The calculation parameters & index constituents are re-evaluated at every quarterly review of the BNC Index Steering Committee.
The result is a superior index which portrays the majority of all legitimate bitcoin trading activity globally, for professional and enterprise use.