CME Group Partners to Launch Ether Reference Rate Index

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Derivatives exchange operator CME Group is starting an ether benchmark rate along with also a real time ether dollar index in partnership with UK based digital asset trading support Crypto Facilities. The operator noted on Monday that it’d offer a daily benchmark price in U.S. Dollars each twenty four hours, and also the real time price based on transactions and order book action from cryptocurrency trades Kraken and Bitstamp, based on a media release. The rates are already available on the web on either the CME Group and Crypto Facilities web sites, and also will likely Be provided to the CME Group’s Market Data Platform beginning June 4.

In a statement, the CME Group controlling your stresses director and Global Head of Equity Products and other investments Tim McCourt stated The Ether Reference Rate and Real Time Index are designed to satisfy the evolving needs of the market. Providing price transparency and a reliable price reference source is an essential development for users of ethereum.” . Likewise Crypto Facilities Chief executive officer Timo Schlaefer said: . Ether, the second encryption, has experienced unbelievable adoption and expansion in 2017, evolving in a main blockchain for intelligent contracts. We’re excited to be contributing to a strong community which has developed around the Ethereum network by providing a reliable benchmark rate and real time Ether Dollar price” .

The new indicators will be supervised by the Bitcoin Supervisory Committee made by the CME Group, Crypto Facilities along with other industry participants, in accordance with the release. This supervision committee will regularly examine the methodology, practices and criteria to guard the integrity of the benchmark rates.” . The news comes only Days after Crypto Facilities started trading in ethereum futures, as previously reported by CoinDesk. The platform declared it was launching the first futures contract to the token via a regulated platform on May 11. Crypto Facilities especially offers CME Group with reference rates for the latter’s own bitcoin futures. Ethereum picture via Shutterstock. The leader in blockchain information, CoinDesk is a media outlet that strives for the greatest journalistic standards and complies with a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Sources:
coindesk.com
press release
previously reported
Ethereum
strict set of editorial policies

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