CME Group launching ether reference rate index

14 May, 2018
by Richard Allen
News
CME Group launching ether reference rate index

CME Group, the worlds leading derivatives marketplace, and Crypto Facilities LTD, a world-leading cryptocurrency trading platform, have launched the CME CF Ether-Dollar Reference Rate, which provides a daily benchmark price in US dollars, and CME CF Ether-Dollar Real Time Index, which enables users to access real-time Ether price in US dollars.

Tim McCourt, MD and Global Head of Equity Products and Alternative Investments at CME Group, said in a statement: "The Ether Reference Rate and Real-Time Index are designed to meet the evolving needs of this marketplace. Providing price transparency and a credible price reference source is a key development for users of Ethereum."

The indices will be overseen by the Bitcoin Oversight Committee formed by the CME Group, Crypto Facilities and other industry members. According to a press release, the “oversight committee will regularly review the methodology, practices and standards to protect the integrity of the reference rates.”

The launch of these two Ethereum indices could indicate that CME Group is planning on launching new futures products around other cryptocurrencies.

Read more about: Ethereum (ETH)

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