BIT Index’s data are extracted from the following eligible exchanges.
Out of the extracted data, 1) disconnected or detected invalid data are excluded, 2) remaining data points are sorted and data that deviate greater than ΔPmax from median price are further excluded, 3) truncate the rest of the data to ΔPmin around the median price and taking weighted average of them.
ΔPmax=1%, ΔPmin= 0.25%
More details as following:
Real time spot prices are retrieved from eligible exchanges;
Disconnected or detected invalid prices are excluded from the sample:
BIT index is calculated with the remaining valid data:
1)If data from ≥3 exchanges are available, take weighted average (if any price deviates more than ΔPmax from the median price will be excluded, the remaining exchanges prices will be bounded towards ΔPmin around the median price); or
2)If data from 2 exchanges are available, if both are within ΔPmin from the median price, take weighted average;
if both deviate more than ΔPmin from the median price, but within ΔPmax, then adopt the one that is closer to the last Index Price
if both deviate more than ΔPmax from median price, then adopt the last Index Price; or
3)If data from only 1 exchange is available, take the price from that exchange as the index price directly