CME Group and Crypto Facilities Partners to Launch Ether Reference Index

london-1567903_1920.jpg

CME Group, the leader in derivatives marketplace and Crypto Facilities Ltd, a cryptocurrency trading platform partners to launch an Ether Reference Index and a real-time ether-dollar index, according to a press release published on May 14.

The initiative will provide “a daily benchmark price in U.S. dollars at 4 pm London time, and CME CF Ether-Dollar Real Time Index (Ether Real Time Index), which will allow users access to a real-time Ether price in U.S. dollars.”

The two rated will be calculated based on transactions and order book activity from Kraken and Bitstamp, two of the largest cryptocurrency exchanges and will be starting to be available on June 4, 2018, on the CME Group Market Data Platform.

Tim McCourt, the Managing Director and Global Head of Equity Products and Alternative Investments at CME Group mentioned,

“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.”

Timo Schlaefer, CEO of Crypto Facilities expressed,

“Ether, the second largest cryptocurrency, experienced incredible adoption and growth in 2017, evolving into the leading blockchain for smart contracts. We are excited to be contributing to the strong community that has developed around the Ethereum network by providing a reliable reference rate and real-time Ether-Dollar price.”

The Bitcoin Oversight Committee will review on a regular basis the methodology, practices and standards in order to protect the integrity of the reference rates.

 

 

Leave a Reply