Source ID: external_coindesk_benchmark
Title: Exchange Benchmark Methodology
URL: https://data.coindesk.com/research/exchange-benchmark-methodology
Observed date: 2026-10-30
Read depth: Substantive HTML methodology and category descriptions; linked report not downloaded
Locator: How Does It Work?; Categories & Weighting; Legal Entity; Retail, Corporate or Institutional
Evidence type: authored paraphrase of inspected source, not a source snapshot

Supported claim: The benchmark describes more than 200 qualitative and quantitative metrics and a due-diligence questionnaire. Its legal-entity and account-type fields show that exchange characterization extends beyond a brand and aggregate market volume.

Limit: Provider risk grades are not direct eligibility labels. The landing page retains a November 2025 questionnaire reference, so its observation date must not be substituted for an unreported methodology effective date.
