CME Group, the world’s largest futures exchange, has launched a pair of indexes to track bitcoin’s price, a move that could boost bitcoin’s visibility in the futures market.
The newly-introduced CME CF Bitcoin Reference Rate (BRR) and the CME CF Bitcoin Real Time Index (BRTI) are a standardized reference rate and a spot price index, respectively. The indexes are expected to drive the professionalization of bitcoin trading and further establish digital assets as a new asset class, CME noted on its website.
The indexes were scheduled to launch Monday in the production environment on the Simple Binary Encoding (SBE) market data feed.
Bitcoin Platforms To Provide Data
Several bitcoin exchanges and trading platforms will provide pricing data, including Bitstamp, Bitfinex, Kraken, GDAX, itBit and OKCoin.
The BRR aggregates the trade flow of large bitcoin spot exchanges during a specific calculation window into a daily reference rate of the U.S. dollar price of bitcoin. The calculation rules are geared to maximize transparency and real-time replicability in underlying spot markets.
CME Group and Crypto Facilities Ltd. designed the