CME Group Teaming With CF Benchmarks for 3 New DeFi Rates and Indices

Pricing will initially come from a group of six crypto exchanges.

AccessTimeIconDec 1, 2022 at 5:01 p.m. UTC
Updated Dec 1, 2022 at 6:11 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Derivatives marketplace Chicago Mercantile Exchange (CME) and cryptocurrency index provider CF Benchmarks this month will introduce reference rates and real-time indices for aave (AAVE), curve (CRV) and aynthetix (SNX), the two said in Thursday.

The new rates will be calculated and published starting Dec. 19 and are currently not tradable futures products.

“These three new benchmarks, together with Uniswap launched earlier this year, will capture more than 40% of the total value locked in [decentralize finance] protocols on the Ethereum blockchain,” said CME Group’s head of cryptocurrency products, Giovanni Vicioso.

The launch comes as interest in decentralized finance (DeFi) and associated blockchain-based projects continues to grow and cryptocurrency traders are increasingly exploring DeFi protocols, Vicioso told CoinDesk, even as the industry recently took another hit with the collapse of crypto exchange FTX.

"We continue to take a cautious, careful approach to this market," Vicious said. "Exactly how it will develop is yet to be seen."

Initial pricing data will come from cryptocurrency exchanges Bitstamp, Coinbase, Gemini, itBit, Kraken and LMAX Digital, with each token trading on at least two of these platforms.

Despite a tough year for the industry, CME Group has continuously been expanding its crypto products. Most recently – ahead of the Ethereum Merge – the company in September began offering options trading on its already-existing ether (ETH) futures product.

CoinDesk is the owner of CoinDesk Indices, a competitor of CF Benchmarks.

Update (Dec. 1, 2022, 18:10 UTC): Adds comments from CME Group’s head of cryptocurrency products, Giovanni Vicioso.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Helene Braun

Helene is a New York-based reporter covering Wall Street, the rise of the spot bitcoin ETFs and crypto exchanges. She is also the co-host of CoinDesk's Markets Daily show. Helene is a graduate of New York University's business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH.


Learn more about Consensus 2024, 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.