CME Group announces new ETH tools

Posted 15 May, 2018

The major derivative exchange in North America – CME Group – has reportedly announced a joint launch of two new tools in cooperation with UK's Crypto Facilities: Ethereum reference rate and ETH-USD index.

According to the press-release, the new tool will give reference rate in the US dollar terms every 24 hours and ETH real-time index. The calculations will be based on transactions and order books of Kraken and Bitstamp platforms.

"The Ether Reference Rate and Real-Time Index are designed to meet the evolving needs of this marketplace...Providing price transparency and a credible price reference source is a key development for users of Ethereum," noted Tim McCourt, Managing Director and Global Head of Equity Products and Alternative Investments at CME Group. 

The new indices said to be controlled by the Bitcoin Oversight Committee, which is represented by the experts from CME Group, Crypto Facilities, and other crypto segment players.

With the new instruments, the exchange will get access to ETH futures, that can be a good option for institutional investors as well as can help miners hedge profit in the more effective way.

Previous story

15 May, 2018 12:28

← Financial Service Commission comes in on crypto exchange inspection in South Korea

South Korea's Financial Service Commission is said to join the Financial Supervisory Service in the inspection of crypto exchanges in the country and money laundering investigation. It will be checked bank accounts of Korean crypto platforms for compliance to the rules against money laundering and other illegal activities.The inspection team is said to target ...

Financial Service Commission comes in on crypto exchange inspection in South Korea

Next story

14 May, 2018 17:48

OKEx left without CEO →

Chris Lee, CEO in OKEx bitcoin platform, has unexpectedly left the office. OKEx is one of the major global trading platforms. Chris Lee has resigned just when the exchange commenced international expansion and came from behind in terms of the daily trading amount over the past week. The company explains CEO's leaving for his personal purposes...

OKEx left without CEO
Write a comment
 
Prove you’re not a bot + 12 = 23