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May 23, 2022

CF Benchmarks to Launch Crypto Indices for Bitcoin and Ether

CME Group and CF Benchmarks are planning to launch two new crypto indices, non-tradable, euro-denominated reference rates and real-time indices for bitcoin and ether, which will be calculated and published daily by CF Benchmarks, beginning June 6.

Each reference rate will provide the euro price for each of the digital asset pairs, published once-a-day at 4 p.m. London time, while each respective real-time index will be published once per second, 24 hours a day, 365 days per year:

  • CME CF Bitcoin-Euro Reference Rate
  • CME CF Bitcoin-Euro Real-Time Index
  • CME CF Ether-Euro Reference Rate
  • CME CF Ether-Euro Real-Time Index

These new reference rates and real-time indices will follow the same methodology and complement the existing U.S. dollar-based CME CF Bitcoin Reference Rate and CME CF Ether-Dollar Reference Rate, which will continue to serve as the benchmark rates for settlement of all CME Group cryptocurrency products. Bitstamp, Coinbase, Kraken and LMAX Digital will provide pricing data for these new benchmarks.

To help with your coverage, we can provide the following quote from Tim McCourt, CME Group Global Head of Equity and FX Products. “With growing institutional interest in cryptocurrencies, there is an increasing demand for local cryptocurrency pricing information based on highly robust, regulated reference rates,” said McCourt. “These new benchmarks, which mark our first non-USD denominated cryptocurrency pricing products, will enable a broad range of market participants to more efficiently manage price risk, price portfolios and create structured products in a wider range of fiat digital asset pairs.”

For more information on these products, please visit www.cmegroup.com/cryptobenchmarks. And please feel free to reach out with any questions.

 


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