So far, RiskLatte has developed indexes including HIX for Hong Kong and TIX for Taiwan. "We decided to develop risk indexes because they’re something that’s not in Asia at all. I’ve been working on this for a few months now. I developed an algorithm which would develop the equivalent of VIX in Hong Kong," says Bhattacharya.
"Asian markets are volatile, so there’s a real need for this," he adds.
At present, HIX and TIX are being distributed free of charge over the internet. But Bhattacharya said the company is looking at alternative forms of distribution. It has contacted data providers Reuters and Bloomberg about distributing the indexes.