CME Group Will Offer Ethereum Real Time Reference Rate and Price Index

CME Group is going to provide a real time Ethereum price listing, according to a company press release.

The new information will be released on the CME Group Market Data Platform beginning on the 4th of June 2018. It will be offering this via a partnership with Crypto Facilities, which is a cryptocurrency Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term based in London.

The price listing will be official called the 'Ether-Dollar Reference Rate'. It will be calculated by Crypto Facilities based on data gathered from Kraken and Bitstamp, which are major cryptocurrency exchanges based in the US and Luxembourg respectively.

CME Group is a Chicago-based financial company that owns and operates financial derivatives exchanges in Chicago and New York. It has a market capitalisation of $54.6 billion.

The firm was in the news late last year because of its groundbreaking decision to offer trading on futures contracts based on Bitcoin. CME Group is the world's largest futures exchange and the new service caused the price of Bitcoin to jump to $8,250.

Crypto Facilities offers cryptocurrency price information to financial institutions - on its website can be found the prices of Bitcoin, Ripple (XRP) and Ethereum vs the US dollar. The price of Ripple is additionally listed against Bitcoin. It also offers a platform for customers to trade cryptocurrency futures with up to 50:1 leverage. Accounts can be funded with Bitcoin and XRP. The company is regulated by the Financial Conduct Authority.

Tim McCourt of CME Group said: "The Ether Reference Rate and Real Time Index are designed to meet the evolving needs of this marketplace. Providing price transparency and a credible price reference source is a key development for users of Ethereum."

Timo Schlaefer, CEO of Crypto Facilities, said: "Ether, the second largest cryptocurrency, experienced incredible adoption and growth in 2017, evolving into the leading Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term for smart contracts. We are excited to be contributing to the strong community that has developed around the Ethereum network by providing a reliable reference rate and real-time Ether-Dollar price."