The Chicago Mercantile Exchange (CME Group (NASDAQ:CME)) in partnership with Crypto Facilities, a UK-based digital asset exchange specializing in Bitcoin futures, have launched the CME CF Ether-Dollar Reference Rate and Real Time Index, according to an announcement May 14. The indexes will provide users access to a real-time Ether (ETH) price in US dollars.
According to a press release, the CME CF Ether-Dollar rates will “provide a standardized reference rate and spot price index”. Both rates will reportedly be calculated by Crypto Facilities, and will be based on transactions and order book activity from crypto exchanges Bitstamp and Kraken. CME Group further states that “the oversight of the products is managed by an independent committee that sets forth a code of conduct and meet to review the practice standards.” According to CME: