CME Group Launches Index and Ethereum Reference Price
May 15, 2018
Major American market of financial derivatives CME Group in cooperation with British company Crypto Facilities is going to offer its clients Ethereum reference price and ETH/USD index.
The published media release says, the operator will be updating ETH reference price every 24 hours and provide live ETH/USD index. The sources for the index will be data on transactions and orders from Kraken and Bitstamp crypto exchanges. Both products are already available at CME Group and Crypto Facilities websites. Note that CME Group used to provide similar data for BTC before.
As the operator’s CEO Tim McCourt put it, reference price and the Ethereum index meet the demands of the growing market:
“Providing price transparency and a credible price reference source is a key development for users of ethereum.”
Both indexes will be monitored by Bitcoin Oversight Committee that will include officials from CME Group, Crypto Facilities and other companies of the related industry. The major purpose for the committee will be permanent control over enabled technology practices and standards with the view to maintain transparency of the published data.