CME Group Launches Bitcoin Price Indexes
The CME Group officially launched its bitcoin price indexes yesterday.
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.
Image via Shutterstock
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.