- CME Group and CF Benchmarks to introduce four new cryptocurrency reference rates and real-time indices.
- New benchmarks to provide pricing coverage for over 96% of the investible cryptocurrency market.
- Pricing data will be collected from major exchanges, including Coinbase and Kraken.
CME Group and CF Benchmarks have announced the launch of new cryptocurrency reference rates and real-time indices for Arbitrum, Ondo, NEAR, and Sui, scheduled for June 2, 2025. This move will significantly expand CME Group's cryptocurrency benchmarks, covering more than 96% of the investible crypto market capitalization.
The new reference rates will be expressed in U.S. dollars and published daily at 4 p.m. London time, with additional rates for Ondo and Sui available at 4 p.m. New York time. Real-time indices will be updated every second to provide continuous pricing information, crucial for institutional trading activities.
These benchmarks will use pricing data from at least two constituent exchanges, such as Bitstamp, Bullish, Coinbase, Crypto.com, Gemini, itBit, Kraken, and LMAX Digital, ensuring accurate and reliable market data. While these reference rates and indices are not tradable futures products, they are essential for accurate portfolio valuation and the development of structured products in the cryptocurrency space.
Giovanni Vicioso, CME Group's Global Head of Cryptocurrency Products, emphasized the importance of these benchmarks in offering reliable data to market participants. The initiative highlights CME Group's commitment to enhancing transparency and accuracy in the cryptocurrency market, consolidating its position as a leading provider of derivatives infrastructure bridging traditional finance and the crypto markets.
