CME Group and CF will launch four new reference rates for cryptocurrencies and actual time to introduce, ONDo, near Waloy on June 2.
This step expands a set of criteria to cover more than 96 % of the investment cryptocurrency market.
The new indicators, which are not related to trading futures products, aim to provide transparent and reliable prices for institutional investors and other market participants.
“Our new standards are designed to provide clear and transparent pricing data for a wide range of market participants,” said Giovanni Picoiuu, head of CEM, crypto products at CME.
“We will provide pricing criteria across more than 96 % of the market value of an investment encrypted currency.”
As with current CME CF standards, new indicators will draw pricing data from at least two of the current component exchanges, which include Coinbase, KAKEN, Bitstamp, Gemini and others.
CME explains that each reference price will reflect the price of the US dollar for the original, which was published once a day at 4 pm at London.
Oondo and SUI will also have published prices at 4 pm New York time. Indications will be updated in real time every second, 24/7.
“The addition of the expression, Oondo, near and SUI, ensures that the market participants can deal with these emerging symbols using reliable standards,” said Soy Chung, CEO of CF Canmarks.
Chung added that The expansion “reflects the acceleration of the institutionalization of digital assets” and “CF” continuous commitment to support the next wave of organized encrypted financial products. “