Derivatives Giant CME Sets Launch Date for Bitcoin Indexes
The CME Group is launching two previously announced bitcoin price benchmarks next month.
Oct 27, 2016 at 7:03 p.m. UTC
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The CME Group is launching two previously announced bitcoin price indexes next month.
The exchange services operator said in a notice this week that its CME CF Bitcoin Reference Rate and CME CF Bitcoin Real Time Index will launch on 13th November. The CME CF Bitcoin Reference Rate, according to the firm, will provide price settlement updates after 15:00 UTC each day.
The goal, CME said, is to give clients a reliable reference rate price source for "digital assets" or cryptographic assets that trade on a blockchain.
The benchmarks are being offered in partnership with UK-based Crypto Facilities. Announced in May, they will draw price data from bitcoin exchanges in Asia, Europe and North America.
CME has been testing the products since last month, and was expected to launch sometime in November. The move reflects a positive outlook on digital asset markets – something that CME executives have remarked on in past public appearances.
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Disclosure: CME Group is an investor in Digital Currency Group, of which CoinDesk is a subsidiary.
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