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CME Group set to launch three new crypto reference rates later this month

Derivatives market giant CME Group is set to launch three new crypto reference rates this month. 
Reference rates for the native tokens of the Avalanche, Tezos and Filecoin blockchains will go live on the CME from October 31, in partnership with CF Benchmarks.
The reference rates will show the U.S. dollar price of each token, published once daily at 4 p.m. BST, the respective real-time index will be published once per second, 24 hours a day, year-round.
Bitstamp, Coinbase, Gemini, itBit, Kraken, and LMAX Digital will provide data for these reference rates. 
The CME CF Reference Rates and real-time indices will capture more than 92% of the investable cryptocurrency market capitalization, according to CME Group Global Head of Cryptocurrency Products Giovanni Vicioso.
"These new benchmarks are designed to allow traders, institutions and other users to access a much broader range of cryptocurrencies through a suite of products they are already familiar with, allowing them to confidently and more accurately manage cryptocurrency price risk, value portfolios or create structured products like ETFs," Vicioso concluded. 
While these are reference rates and not tradable futures, the inclusion of new reference rates could suggest potential additions to tradable crypto futures on the CME. Last month, CME expanded its line of crypto derivatives products, launching ether options on September 12.  © 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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