CME Group ups operations with instant ethereum reference rate, price index

CME Group, a derivatives exchange operator has upped its operations with the introduction of an ethereum reference rate and a real-time ethereum-dollar index in partnership with UK-based digital asset trading service, Crypto Facilities.

The group on Monday said it would make available daily benchmark price in U.S. dollars each 24 hours, as well as the real-time price based on transactions and order book activity from cryptocurrency exchanges, Kraken and Bitstamp, according to a statement.

The rates are already available online on both the CME Group and Crypto Facilities websites and will be provided to the CME Group Market Data Platform starting June 4.

Tim McCourt, the CME group managing director and global head of equity products and alternative investments said: “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.”