CME Group and CF Benchmarks will launch four new cryptocurrency reference rates and real-time indices for Arbitrum, Ondo, NEAR and Sui on 2 June.
CME and CF Benchmarks to Launch 4 New Cryptocurrency Reference Rates and Real-Time Indices
The move expands their suite of benchmarks to cover over 96% of the investible cryptocurrency market.
The new indices, which are not tied to tradable futures products, aim to provide transparent, reliable pricing for institutional investors and other market participants.
“Our new benchmarks are designed to provide clear and transparent pricing data to a broad range of market participants,” said Giovanni Vicioso, CME Group’s Global Head of Cryptocurrency Products.
“We will provide pricing benchmarks across more than 96% of the investible cryptocurrency market capitalisation.”
As with existing CME CF benchmarks, the new indices will draw pricing data from at least two of the current constituent exchanges, which include Coinbase, Kraken, Bitstamp, Gemini, and others.
CME explains that each reference rate will reflect the US dollar price of the asset, published once daily at 4 pm London time.
Ondo and Sui will also have rates published at 4 pm New York time. Real-time indices will be updated every second, 24/7.
“The addition of Arbitrum, Ondo, NEAR and Sui ensures market participants can engage with these emerging tokens using trusted benchmarks,” said CF Benchmarks CEO Sui Chung.
Chung added that the expansion “reflects the accelerating institutionalisation of digital assets” and CF Benchmarks’ “ongoing commitment to supporting the next wave of regulated crypto financial products.”
