CME Group Launches Bitcoin Price Indexes

NEWS
Stan Higgins
Nov 14, 2016 at 15:55 UTC  |  Updated  Nov 14, 2016 at 22:33 UTC

CME Group has officially launched its bitcoin price indexes following months of development.

The derivatives giant has spent the last month beta testing its CME CF Bitcoin Reference Rate and CME CF Bitcoin Real Time Index in partnership with London-based firm Crypto Facilities. Announced earlier this year, the indexes leverage price data from a suite of global bitcoin exchanges in Asia, Europe and North America.

CME also disclosed the names of the independent advisory committee overseeing the price resources. Members include bitcoin advocate and author Andreas Antonopoulos and Imperial College London Professor William Knottenbelt.

When it first unveiled the price tools, CME said that it was aiming to provide institutional-grade resources for those trading in bitcoin markets. CME will release its reference bitcoin price at 15:00 UTC each day.

"These products are designed to allow bitcoin traders, companies and other users to rely on a credible reference rate price source," Sandra Ro, CME Group executive director, said at the time.

Disclosure: CME Group is an investor in Digital Currency Group, of which CoinDesk is a subsidiary.

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