The CME Group is launching two previously announced bitcoin price indexes next month.
The exchange services operator said in a notice dated 24th October that its CME CF Bitcoin Reference Rate and CME CF Bitcoin Real Time Index will launch on 13th November. The CME CF Bitcoin Reference Rate, according to the firm, will provide daily price settlement updates after 4pm London time each day.
The goal, according to CME, is “to give clients a reliable reference rate price source for digital assets”.
The benchmarks are being offered in partnership with UK-based Crypto Facilities. Announced in May, they will draw price data from bitcoin exchanges in Asia, Europe and North America.
CME has been testing the products since last month, and was expected to launch sometime in November. The move reflects a positive outlook on digital asset markets – something that CME executives have remarked upon in the past.
Disclosure: CME Group is an investor in Digital Currency Group, of which CoinDesk is a subsidiary.
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