CME Group and CF Benchmarks to Launch New Crypto Indices

CME Group and CF Benchmarks have announced plans to introduce two new cryptocurrency reference rates and real-time indices for XRP and Internet Computer (ICP) starting July 29. These benchmarks will provide transparent pricing data, enabling market participants to more accurately value portfolios and develop structured products.

The new indices, calculated by CF Benchmarks, will use pricing data from at least two leading crypto exchanges, including Bitstamp, Coinbase, Gemini, itBit, Kraken, and LMAX Digital. This initiative expands CME Group's suite of cryptocurrency benchmarks, which now covers over 93% of the investible cryptocurrency market capitalization.

"These new benchmarks are designed to provide clear and transparent pricing data to a broad range of market participants, allowing them to more accurately value portfolios or create structured products," said Giovanni Vicioso, CME Group Global Head of Cryptocurrency Products. "With 24 cryptocurrencies in our suite of CME CF References Rates and Real-Time Indices, we will provide pricing data across more than 93% of the investible cryptocurrency market capitalization, helping clients everywhere to better manage their risk."

The reference rates will publish the U.S. dollar price of each digital asset daily at 4 p.m. London time, while the real-time indices will be updated once per second, offering continuous pricing information year-round.