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Seeking Alpha 2022-10-06 15:13:37

CME Group, CF Benchmarks to launch crypto benchmarks for avalanache, filecoin, tezos

CME Group (NASDAQ:CME), in partnership with CF Benchmarks, a provider of cryptocurrency benchmark indices, said Thursday that they're planning to roll out new reference rates and real-time indices for three tokens: avalanche (AVAX-USD), filecoin (FIL-USD) and tezos (XTZ-USD). Those non-tradable reference rates and indices, which seek to meet the growing need for transparent and regulated crypto pricing, are expected to launch on October 31, the companies said. Crypto exchanges Coinbase Global (COIN), Bitstamp, Gemini, Kraken, among others will initially start providing pricing data for the new benchmarks. "Together with bitcoin, ether and other available cryptocurrencies, CME CF Reference Rates and Real-Time Indices will capture more than 92% of the investable cryptocurrency market capitalization," said Giovanni Vicioso, CME Group global head of Crypto Products. "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."The crypto-related move is one of many that the derivatives exchange is pursuing, as investors seek further exposure to the emerging asset class. In mid-September, CME (CME) launched ether (ETH-USD) options ahead of the blockchain's successful Merge. 

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