Mercantile exchange CME Group launched two indices on the air

The Chicago Mercantile exchange CME Group and the British service trade digital assets, Crypto Facilities has launched a public indexes on Ethereum — ERR (Ether Reference Rate) and the index of the ETH/USD, calculated in real time — RTI (Real Time Index).

According to statements of the operator in a press release, they will provide a «daily reference price expressed in United States dollars» for every 24 hours, and the price in real time based on data for transactions with cryptocurrency exchanges Kraken and Bitstamp. While courses are available only on the websites of the CME Group and Crypto Facilities, but since June 4, will be provided by the platform market data CME Group Market Data Platform.

According to statements by the managing Director and head of equity products and alternative investments, CME Group Tim D. mccourtie (Tim McCourt), the creation of these indices was motivated by unsatisfied needs of the emerging market of cryptocurrency:

«Ether is the second largest and leading cryptocurrency blockchain for smart contracts. Our index will help to increase transparency and provide reliable courses in real time.»

Bitcoin Oversight Committee formed CME Group, Crypto Facilities, and other market participants, which will oversee the new indexes and if necessary, revise the methodology, practices and standards to protect the integrity of reference rates.

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