CME Group, CF Benchmarks to launch crypto benchmarks for avalanache, filecoin, tezos

CME Group (NASDAQ:CME), in partnership with CF Benchmarks, a supplier of cryptocurrency benchmark indices, stated Thursday that they are planning to roll out new reference charges and real-time indices for 3 tokens: avalanche (AVAX-USD), filecoin (FIL-USD) and tezos (XTZ-USD).

These non-tradable reference charges and indices, which search to fulfill the rising want for clear and controlled crypto pricing, are anticipated to launch on October 31, the businesses stated.

Crypto exchanges Coinbase World (COIN), Bitstamp, Gemini, Kraken, amongst others will initially begin offering pricing information for the brand new benchmarks.

“Along with bitcoin, ether and different obtainable cryptocurrencies, CME CF Reference Charges and Actual-Time Indices will seize greater than 92% of the investable cryptocurrency market capitalization,” stated Giovanni Vicioso, CME Group world head of Crypto Merchandise. “These new benchmarks are designed to permit merchants, establishments and different customers to entry a wider vary of cryptocurrencies by way of a set of merchandise they’re already aware of, permitting them to confidently and extra precisely handle cryptocurrency worth danger, worth portfolios or create structured merchandise like ETFs.”

The crypto-related transfer is one in every of many who the derivatives trade is pursuing, as traders search additional publicity to the rising asset class. In mid-September, CME (CME) launched ether (ETH-USD) choices forward of the blockchain’s profitable Merge.