CHICAGO and LONDON, Dec. 1, 2022
/PRNewswire/ -- CME Group, the world's leading derivatives
marketplace, and CF Benchmarks, the leading provider of
cryptocurrency benchmark indices, today announced
plans to launch three new DeFi reference rates and real-time
indices, which will be calculated and published daily by CF
Benchmarks, beginning December
19.
These reference rates and indices are not tradable futures
products. They include the following:
"In response to rising interest in DeFi projects, CME Group, in
partnership with CF Benchmarks, will expand its suite of regulated,
non-tradable Cryptocurrency Reference Rates and
Real-Time Indices to include three new DeFi tokens," said
Giovanni Vicioso, CME Group Global
Head of Cryptocurrency Products. "These three new
benchmarks, together with Uniswap launched earlier this year, will
capture more than 40% of the total value locked in DeFi protocols
on the Ethereum blockchain. Additionally, these rates
are designed to provide traders, institutions and other users
transparency and price discovery across a much broader range of
tokens, allowing them to confidently and more accurately value
cryptocurrency sector specific portfolios and manage
price risk around various blockchain-based projects."
CME CF Reference Rates and Real-Time Indices are based on robust
methodologies that have regular expert oversight and are designed
to meet the growing need for transparent, regulated and
round-the-clock pricing.
Several leading crypto exchanges and trading
platforms will provide pricing data for these new benchmarks,
starting initially with Bitstamp, Coinbase, Gemini, itBit, Kraken,
and LMAX Digital. Each coin will trade on a minimum of two of these
constituent exchanges.
"This is a natural progression for the CME CF benchmark family,"
said Sui Chung, CEO of CF
Benchmarks. "Investors have access to a growing range of pricing
indices that provide exposure to new verticals within the
cryptocurrency asset class. DeFi protocols provide
users with direct access to financial services and products built
on open-source technology, with the associated tokens increasingly
relevant as Web3 continues to gain adherents. In partnership with
CME Group, CF Benchmarks is proud to provide investors with
transparent pricing for these assets through its robust and
resilient benchmarks."
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.
About CME Group
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 and EBS are
trademarks of BrokerTec Europe LTD and EBS Group LTD,
respectively. Dow Jones, Dow Jones Industrial Average, S&P
500 and S&P are service and/or trademarks of Dow Jones
Trademark Holdings LLC, Standard & Poor's Financial Services
LLC and S&P/Dow Jones Indices LLC, as the case may be, and have
been licensed for use by Chicago Mercantile Exchange Inc. All
other trademarks are the property of their respective owners.
About CF Benchmarks
CF Benchmarks is the leading provider of
cryptocurrency benchmark indices, authorised and
regulated by the UK FCA under the EU BMR. Composed of market data
from six constituent exchanges, its benchmark indices are provided
through public methodologies and transparent governance, for
tracking, valuing and settling risk in cryptocurrency
financial services and products. CF Benchmarks' indices have been
used to settle over $500bn of
cryptocurrency derivative contracts listed for trading
by CME Group and Kraken Futures.
CME-G
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SOURCE CME Group