CME Group has launched a reference rate for ether, the native cryptocurrency of the Etherium network.
The CME CF Ether-Dollar Reference Rate, which will provide a daily benchmark price in US dollars at 4 pm London time, and CME CF Ether-Dollar Real Time Index, which will allow users access to a real-time ether price in US dollars.
Both the Ether Reference Rate and Ether Real Time Index will be calculated by Crypto Facilities and will be based on transactions and order book activity from two cryptocurrency exchanges: Kraken and Bitstamp.
Digital exchange group Kraken has announced the acquisition of Crypto Facilities, a regulated cryptocurrency trading platform and index provider.
London-based Crypto Facilities offers individuals and institutions trading on a range of cryptocurrency derivatives and was the first regulated entity to list futures on bitcoin, ethereum, ripple XRP, litecoin and bitcoin cash. The firm also provides a cryptocurrency index, calculating the CME CF Bitcoin Reference Rate that powers the CME Group’s Bitcoin futures. Eligible Kraken clients will gain access to futures on six cryptocurrency pairs.