CME Group, which is one of the most notable American financial companies, has decided to get into the realm of ETH after it stepped into the world of BTC.
At the end of 2017, this bourse operator started merchandising first BTC-based futures (after Cboe) in the world. This year it is getting ready to list an ETH-based futures product.
CME Group & Ethereum =?
On Monday, May 14, the Chicago-headquartered bourse informed that has collaborated with a range of important cyber money trading venues. This partnering aims to establish an Ether Reference Rate and Ether Real-Time Index, CCN notified.
As per the announcement, this index will grant consistent and checked pricing info for such trading matches as ETH/USD. Moreover, it will provide an everyday standard price.
Concerning the issue, Tim McCourt, who is a governing leader and a global head of assets products and alternative pilings at the bourse operator, said that both a specific rate and an index are developed to fit the growing demands of the niche marketplace.
- ETH Reference Rate;
- Real-Time Index.
He also said that giving price transparency and a likely price reference source is a crucial improvement for ETH users.
How Will It Work?
In accordance with the report, the purchasing/vending platform named Crypto Facilities, that is headquartered in the United Kingdom, will be the one to measure both the Ether Reference Rate and Ether Real-Time Index. By the way, around a week ago this platform set off the initial controlled ETH-based futures product.
Concerning the data, it will be pervaded from two cyber money bourses:
- Kraken (based in San Francisco)
- Bitstamp (based in Luxembourg)
Timo Schlaefer, the top exec of Crypto Facilities, emphasized that the platform is delighted to be a part of the empowered ecosystem that has generated a network encompassing Ethereum by giving a reliable standard rate as well as the real-time ETH-USD rate.
It is worth noticing that Ether is the second most valuable virtual coin in the world saw an immense adoption and skyrocketing last year.