CHICAGO and LONDON, July 11,
2024 /PRNewswire/ -- CME Group, the world's
leading derivatives marketplace, and CF Benchmarks, the leading
provider of cryptocurrency benchmark indices, today
announced plans to launch two new cryptocurrency
reference rates and real-time indices for Ripple XRP
(XRP) and Internet Computer (ICP), which will be
calculated and published daily by CF Benchmarks, beginning
July 29.
These reference rates and indices are not tradable futures
products.
"These new benchmarks are designed to provide clear and
transparent pricing data to a broad range of market participants,
allowing them to more accurately value portfolios or create
structured products," said Giovanni
Vicioso, CME Group Global Head of
Cryptocurrency Products. "With 24
cryptocurrencies in our suite of CME CF References
Rates and Real-Time Indices, we will provide pricing data across
more than 93% of the investible cryptocurrency market
capitalization, helping clients everywhere to better manage their
risk."
As with all existing CME CF Benchmarks reference rates and
real-time indices, these new benchmarks will utilize pricing data
from those leading crypto exchanges and trading
platforms that are current constituent exchanges for the CME CF
Benchmark suite of reference rates and real-time indices. Each of
the new benchmarks will be calculated with pricing data from a
minimum of two of these exchanges – Bitstamp,
Coinbase, Gemini, itBit, Kraken, and LMAX Digital.
"CF Benchmarks is proud to continue to support the expansion and
maturation of this asset class as clients start to spread their
activity across a wider range of cryptocurrencies,"
said Sui Chung, CEO of CF
Benchmarks. "These new reference rates and indices will be
calculated and administered to the same exacting standards as the
other benchmarks in the CME CF Single Asset Series, ensuring that
clients continue to have the same level of confidence as they
engage with these new assets."
Each of these new reference rates will provide the U.S. dollar
price of each digital asset, 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.
For more information on these products, please visit
www.cmegroup.com/cryptobenchmarks.
As the world's leading derivatives marketplace, CME Group
(www.cmegroup.com) enables clients to trade futures, options, cash
and OTC markets, optimize portfolios, and analyze data – empowering
market participants worldwide to efficiently manage risk and
capture opportunities. CME Group exchanges offer the widest range
of global benchmark products across all major asset classes based
on interest rates, equity indexes, foreign
exchange, energy, agricultural
products and metals. The company offers futures and
options on futures trading through the CME Globex platform,
fixed income trading via BrokerTec and foreign exchange trading on
the EBS platform. In addition, it operates one of the world's
leading central counterparty clearing providers, CME
Clearing.
CME Group, the Globe logo, CME, Chicago Mercantile Exchange,
Globex, and E-mini are trademarks of Chicago Mercantile Exchange
Inc. CBOT and Chicago Board
of Trade are trademarks of Board of Trade of the City of Chicago, Inc. NYMEX, New York
Mercantile Exchange and ClearPort are trademarks of New York
Mercantile Exchange, Inc. COMEX is a trademark of Commodity
Exchange, Inc. BrokerTec is a trademark of BrokerTec Americas LLC
and EBS is a trademark of EBS Group LTD. The S&P 500 Index is a
product of S&P Dow Jones Indices LLC ("S&P DJI").
"S&P®", "S&P 500®", "SPY®", "SPX®", US 500 and The 500 are
trademarks of Standard & Poor's Financial Services LLC; Dow
Jones®, DJIA® and Dow Jones Industrial Average are service and/or
trademarks of Dow Jones Trademark Holdings LLC. These trademarks
have been licensed for use by Chicago Mercantile Exchange Inc.
Futures contracts based on the S&P 500 Index are not sponsored,
endorsed, marketed, or promoted by S&P DJI, and S&P DJI
makes no representation regarding the advisability of investing in
such products. All other trademarks are the property of their
respective owners.
About CF Benchmarks
CF Benchmarks is the leading regulated
cryptocurrency index provider. Authorized as a
registered benchmark administrator under the UK Benchmarks
Regulation (UK BMR). CF Benchmarks (FRN 847100) is on the FCA
Benchmarks Register. Benchmark indices are provided through fully
replicable public methodologies and transparent governance, for
tracking, valuing and settling risk in cryptocurrency
products and services.
CF Benchmarks' indices are integrated into some of the largest
regulated crypto products by assets. This includes six
out of the 11 spot bitcoin ETFs in the US (IBIT, ARKB,
EZBC, BITB, BRRR & BTCW) and 99% of the regulated
crypto derivatives market, including
crypto derivatives offered by CME Group. In total,
over $40bn of assets are referenced
to CF Benchmarks indices.
CME-G
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SOURCE CME Group