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  • Professor Andrea M. Armani, University of Southern California
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  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology

dxFeed to Act as Index Calculation Agent for MUSIQ™, the World’s First Benchmarked Financial Index for Song Streaming

New York, United States - 07-22-2022 (PR Distribution™) -

dxFeed, a leading data solutions and index management provider for the global financial industry, both traditional and crypto, has announced becoming the index calculation agent for Clouty. This organization is the first to make music a financial instrument, providing MUSIQ™ 500 Composite, The First Financial Benchmark for Musict. dxFeed has expanded its capabilities beyond creating financial and market data-based indices and created the product designed to serve as the key benchmark for the music industry, opening the door for industry risk management and music as a tradable asset.

The MUSIQ™ 500 Composite is an index that compiles the top 500 songs via raw consumption streaming data in the US and the average price-paid-out per stream to create the index value. This move paves the way to introduce a host of tradable financial products, giving the industry an opportunity for much-needed risk management capabilities. Additionally, this would offer institutional investors as well as the general public a chance to have a financial stake in music.

"The advent of streaming has allowed music to become a tangible asset via real-time data. That's why we needed to partner with the best expertise index management provider. We wanted our partner to be ready to think innovatively and freely, going beyond the limits of the exclusive financial market," said David Umeh, Clouty Founder and CEO. "We're looking forward to sharing several other significant developments in the coming months with dxFeed."

dxFeed applied Clouty’s proprietary methodology to calculate the index value. Individual indexes tracking the top nine genres, along with a global composite, are expected soon after the release of the MUSIQ™ 500.

"This project is special for us as it allows our team to work with the music streaming value as an uncorrelated asset class. This is key when it comes to diversifying an investment portfolio, especially in today's market. With Clouty, we've made that possible by applying robust financial analysis on the data," said Oleg Solodukhin, CEO at dxFeed. "Music has a real value that can be tracked, thanks to the advent of streaming. We've taken a data-driven approach to create a financial instrument for songs and their genres."

About Clouty
Based in Chicago, Clouty sits at the intersection of data, music, and finance. Clouty re-imagines the value of music by making it a tradable asset. Its first major initiative is the introduction of MUSIQ™ indexes that the company will license. The firm is advised by many of the leading experts in finance and music industry. It also plans to partner with some of the largest, most established organizations in those fields. Clouty was founded by David Umeh, an entrepreneur who identified the music industry’s growing to manage risk and benefit from the same tools that other major industries have adopted. For more information, visit www.clouty.io/musiq or contact musiq@clouty.io.

About dxFeed
dxFeed is a leading market data and services provider and calculation agent for the capital markets industry. According to the WatersTechnology 2022 IMD & IRD awards honors, it’s The Most Innovative Market Data Project. dxFeed focuses primarily on delivering financial information and services to buy–and sell–side institutions in the global markets, both traditional and crypto. That includes brokerages, prop traders, exchanges, individuals (traders, quants, and portfolio managers), and academia (educational institutions and researchers).
Follow dxFeed on Twitter, Facebook, and LinkedIn.
Contact dxFeed: pr@dxfeed.com 

Media Contacts:

Company Name: dxFeed
Full Name: Kate Zapekina
Phone: +1 201 685-9280
Email Address: Send Email
Website: https://dxfeed.com/

For the original news story, please visit https://www.prdistribution.com/news/dxfeed-to-act-as-index-calculation-agent-for-musiq-the-world-s-first-benchmarked-financial-index-for-song-streaming/9225203.

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