CME Group and CF Benchmarks to Introduce Three New DeFi Reference Rates

CME Group, the world's leading derivatives marketplace, and CF Benchmarks, the leading provider of cryptocurrency benchmark indices, announced plans to launch three new DeFi reference rates and real-time indices, which will be calculated and published daily by CF Benchmarks, beginning December 19.

These reference rates and indices are not tradable futures products. They include Aave, Curve and Synthetix.

"In response to rising interest in DeFi projects, CME Group, in partnership with CF Benchmarks, will expand its suite of regulated, non-tradable Cryptocurrency Reference Rates and Real-Time Indices to include three new DeFi tokens," said Giovanni Vicioso, CME Group Global Head of Cryptocurrency Products.

"These three new benchmarks, together with Uniswap launched earlier this year, will capture more than 40% of the total value locked in DeFi protocols on the Ethereum blockchain. Additionally, these rates are designed to provide traders, institutions and other users transparency and price discovery across a much broader range of tokens, allowing them to confidently and more accurately value cryptocurrency sector specific portfolios and manage price risk around various blockchain-based projects."

Several leading crypto exchanges and trading platforms will provide pricing data for these new benchmarks, starting initially with Bitstamp, Coinbase, Gemini, itBit, Kraken, and LMAX Digital.

"This is a natural progression for the CME CF benchmark family," said Sui Chung, CEO of CF Benchmarks. "Investors have access to a growing range of pricing indices that provide exposure to new verticals within the cryptocurrency asset class. DeFi protocols provide users with direct access to financial services and products built on open-source technology, with the associated tokens increasingly relevant as Web3 continues to gain adherents. In partnership with CME Group, CF Benchmarks is proud to provide investors with transparent pricing for these assets through its robust and resilient benchmarks."