Crypto.com Exchange to Enhance CME CF Bitcoin and Ether Reference Rates
CF Benchmarks has announced that Crypto.com Exchange will be included as a CME CF Constituent Exchange, effective March 31, 2025. This addition enhances the coverage of Bitcoin and Ether reference rates, representing over 98% and 92% of total trading, respectively. Industry leaders emphasize the importance of this integration in providing reliable pricing and supporting investor confidence in cryptocurrency markets.
CF Benchmarks has announced that starting March 31, 2025, market data from Crypto.com Exchange will be included as a CME CF Constituent Exchange, enhancing its Bitcoin and Ether real-time indices and reference rates. This inclusion aims to bolster the representativeness and quality of CME CF’s cryptocurrency pricing products by expanding the data sources to encompass eight exchanges, thus increasing market coverage significantly.
The inclusion of Crypto.com will improve the Bitcoin Reference Rate (BRR), which will now represent transaction data covering over 98% of global BTC-USD trading, while the Ether-Dollar Reference Rate (ETHUSD_RR) will account for 92% of ETH-USD trading. This integration not only enhances the benchmarks but also reflects the dynamic growth in the cryptocurrency financial product market over the past year.
Sui Chung, CEO of CF Benchmarks, noted that the past year has seen a remarkable increase in crypto financial products and that integrating Crypto.com will ensure the accuracy and resilience of their benchmarks as the cryptocurrency market evolves.
Giuseppe Giuliani, Senior Managing Director at Crypto.com, highlighted their investment in establishing a robust platform for institutional users and expressed pride in the inclusion of Crypto.com in the CME CF indices, recognizing it as a testament to their leadership in the crypto trading space.
Giovanni Vicioso, Global Head of Cryptocurrency Products at CME Group, expressed enthusiasm for the Crypto.com addition. He stated that as the cryptocurrency market matures, the need for transparent and reliable investment instruments becomes imperative, and the Crypto.com data will enhance the performance of CME’s Bitcoin and Ether benchmarks.
The incorporation of Crypto.com Exchange data into the CME CF Bitcoin and Ether indices marks a significant advancement in the cryptocurrency market’s infrastructure. This development enhances the integrity and accuracy of reference rates, catering to the growing demand for reliable investment products. The collaboration among CF Benchmarks, Crypto.com, and CME Group reflects a commitment to improving the standards of institutional crypto trading, thereby supporting investor confidence and market evolution.
Original Source: fxnewsgroup.com
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