CME, CF Benchmarks to launch two crypto reference rates for XRP, Internet Computer (CME)

CME Group (NASDAQ:CME) and CF Benchmarks, a supplier of crypto benchmark indices, plan to roll out two new crypto reference charges and real-time indices for XRP (XRP-USD) and Web Laptop (ICP-USD), beginning July 29, the businesses mentioned Thursday.

These reference charges and indices will not be tradable futures merchandise. As a substitute, they “are designed to offer clear and clear pricing knowledge to a broad vary of market individuals, permitting them to extra precisely worth portfolios or create structured merchandise,” mentioned Giovanni Vicioso, CME Group World head of Cryptocurrency Merchandise.

“With 24 cryptocurrencies in our suite of CME CF References Charges and Actual-Time Indices, we are going to present pricing knowledge throughout greater than 93% of the investible cryptocurrency market capitalization, serving to shoppers in all places to higher handle their threat,” he added.

Every of those new reference charges will present the U.S. greenback value of every digital asset, revealed once-a-day at 4 p.m. London time, whereas every respective real-time index might be revealed as soon as per second, 24 hours a day, 12 months per yr.