CME group yesterday announced that Gemini will be added as a constituent exchange for the CME CF Bitcoin and Ether-Dollar Reference Rate and Real-Time Index. The Gemini’s market data are being added to eight crypto indices offered by CF Benchmarks.
Tim McCourt, CME Group’s Managing Director and Global Head of Equity Products and Alternative Investments, said that they are pleased with the addition of Gemini data to our bitcoin and ether reference rates and real-time indices. He also mentioned that it would capture broader market participation and increase the robustness of the pricing indices at a time when customers are increasingly using their bitcoin futures to trade and manage underlying spot market price risk.
According to Gemini’s official website, Implementation is scheduled on Friday, August 30th, 2019, 4:30 pm BST.
In order to join BRR, Gemini had to meet the CME Group’s eligibility criteria for quality of data submitted, market surveillance practices, security, and regulation.
Jeanine Hightower-Sellitto, Managing Director of Operations wrote that they believe it is essential that their market data helps to power and enhance cryptocurrency indices and financial products that are integral to moving the industry forward.
CF Benchmarks said that other exchanges such as Bitstamp, Coinbase, itBit, and Kraken would boost the essence of market data carrying the indices.
