Seems like Yen volume in BTC was very low. Now all of a sudden it's more than 7% of global volume?!
Why is Quinone exchange not being ignored for it's zero-fee model, the way the bogus CNY exchanges are?
This is a very good point, and its something we are still working on. We will shortly be adding some CNY exchanges to the index, weighted using various new factors that enables us to spot which exchanges are operating "out of the ordinary" shall we say
The reason Quoine were included is we ran their book against our algorithm initially and it didn't actually pick up any untoward behaviour (at least to the level of other unnamed exchanges).
We will follow up with more detail on this via our blog when things are tested further, hope that answers your question at least for now