Starting September 11, CME Group will offer Bitcoin and Ether reference rates for pricing cryptocurrency futures contract settlements, responding to increasing institutional interest in the Asian cryptocurrency sector.
CME Group Introduces Bitcoin and Ethereum Reference Rates for Asia-Pacific Market
CME Group, a marketplace for trading financial derivatives, is launching reference rates for Bitcoin and Ethereum specifically for the Asia-Pacific region. This move reflects the growing interest of institutions in Asia towards cryptocurrencies.
CME Group partnered with CF Benchmarks, a crypto indices provider, to create these reference rates, which will be used for pricing settlements of cryptocurrency futures contracts.
Starting September 11, these rates will be available, benefiting crypto investors and institutions in the region. These rates will be published daily in Hong Kong time, allowing better risk management and investment decisions during Asia’s trading hours.
CME and CF Extend Reference Rates to Metaverse Tokens
CME and CF Benchmarks are not only offering reference rates for major cryptocurrencies like Bitcoin and Ethereum, but also for tokens linked to the metaverse like Axie Infinity Shards, Chiliz, and Decentraland MANA.
These reference rates are built by combining trading data from leading crypto exchanges like Bitstamp, Coinbase, Gemini, and Kraken. They play a key role in settling futures contracts, such as CME’s Bitcoin and Ether futures, which use the London time reference rate.
Financial institutions are increasingly attracted to crypto-friendly jurisdictions such as Hong Kong and Singapore, where regulatory clarity for crypto-related businesses is being established.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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