New York, United States – 07/21/2022 (PR Distribution™) –

dxFeed, a leading data solutions and Index Management Provider for the global financial industry, both traditional and crypto, has announced that it will become the index calculation agent for cool. This organization is the first to make music a financial tool by providing the MUSIQ™ 500 Composite, the first Benchmarked Financial Index for song streaming. Expanding its capabilities beyond creating indexes based on financial and market data, dxFeed has developed a product that aims to serve as the primary benchmark for the music industry, opening the door to industry risk management and music as a tradable commodity.

MUSIQ 500 Composite is an index that compiles the top 500 songs using raw US streaming consumption data and average price paid per stream to create the index score. This move paves the way for the launch of a variety of tradable financial products and gives the industry the opportunity for much-needed risk management capabilities. In addition, this would offer both institutional investors and the general public the opportunity to participate financially in music.

“The advent of streaming has enabled music to become a tangible asset through real-time data. Because of this, we had to work with the index management provider with the best expertise. We wanted our partner to be willing to innovate, think freely and push the boundaries of the exclusive financial market,” he said David Umeh, Clouty Founder and CEO. “We look forward to sharing several other important developments with dxFeed over the coming months.”

dxFeed used Clouty’s proprietary method to calculate the index value. Individual indices tracking the nine major genres along with a global composite are expected soon after the release of the MUSIQ 500.

“This project is special to us as it allows our team to work with streaming music value as an uncorrelated asset class. This is the key to diversifying a…