CME Group and CF Benchmarks to Launch APAC Reference Rates for Bitcoin and Ether on September 11
CHICAGO and LONDON, Aug. 16, 2023 /PRNewswire/ -- CME Group , the world's leading derivatives marketplace, and CF Benchmarks , the leading provider of cryptocurrency benchmark indices, today announced plans to launch two new APAC-specific reference rates for bitcoin and ether on September 11 – the CME CF Bitcoin Reference Rate APAC (BRRAP) and CME CF Ether-Dollar Reference Rate APAC (ETHUSD_AP) – which will provide a once-a-day reference rate for the U.S. dollar price of the two digital assets, published at 4 p.m. Hong Kong/Singapore time.
- CHICAGO and LONDON, Aug. 16, 2023 /PRNewswire/ -- CME Group , the world's leading derivatives marketplace, and CF Benchmarks , the leading provider of cryptocurrency benchmark indices, today announced plans to launch two new APAC-specific reference rates for bitcoin and ether on September 11 – the CME CF Bitcoin Reference Rate APAC (BRRAP) and CME CF Ether-Dollar Reference Rate APAC (ETHUSD_AP) – which will provide a once-a-day reference rate for the U.S. dollar price of the two digital assets, published at 4 p.m. Hong Kong/Singapore time.
- "Year-to-date, 37% of total crypto volume at CME Group has been traded during non-U.S. hours, with 11% of trades coming from the APAC region.
- These non-tradable reference rates will complement the existing CME CF Bitcoin Reference Rate (BRR) and CME CF-Ether Dollar Reference Rate (ETHUSD_RR), published at 4 p.m. London time, as well as the recently introduced CME CF Bitcoin Reference Rate New York (BRRNY) and CME CF Ether-Dollar Reference Rate New York (ETHUSD_NY), published at 4 p.m. New York time.
- The BRR and ETHUS RR will continue to serve as the benchmark rates for settlement of all CME Group Bitcoin futures, Micro Bitcoin futures and Ether futures and Micro Ether futures contracts.