{"id":21252,"date":"2023-08-17T07:20:50","date_gmt":"2023-08-17T07:20:50","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/cme-group-to-launch-btc-eth-reference-rates-aimed-at-asias-investors\/"},"modified":"2023-08-17T07:20:52","modified_gmt":"2023-08-17T07:20:52","slug":"cme-group-to-launch-btc-eth-reference-rates-aimed-at-asias-investors","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/cme-group-to-launch-btc-eth-reference-rates-aimed-at-asias-investors\/","title":{"rendered":"CME Group to launch BTC, ETH reference rates aimed at Asia\u2019s investors"},"content":{"rendered":"
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Derivatives marketplace CME Group is launching Bitcoin (BTC) and Ether (ETH) reference rates for the Asia Pacific region, in another sign of growing institutional interest in crypto from Asia.<\/p>\n
On Aug. 16, derivatives marketplace CME Group said it\u2019s partnered with crypto indices provider CF Benchmarks and on Sept. 11 to launch the two Asia Pacific-focused crypto reference rates.<\/p>\n
Reference rates are used as a credible source of a cryptocurrency\u2019s price and are used \u2014 in CME\u2019s case \u2014 to price settlements of crypto futures contracts.<\/p>\n
CME Group said from Sept. 11, Asia-based crypto institutions and investors will get two reference rates that will track BTC and ETH, which will be published once a day at 4 pm Hong Kong time. <\/p>\n
CME Group has existing reference rates for the two cryptocurrencies, but they are published at times more suitable to investors in New York and London’ timezones.\u00a0<\/p>\n
\nCME CF APAC Bitcoin and Ether Reference Rates launch Sept. 11, providing daily prices at 4 p.m. HKT and SGT and complementing existing London and New York time rates. https:\/\/t.co\/j3r7yCfe45 pic.twitter.com\/6tOadpk51M<\/a><\/p>\n