CME Group and CF Benchmarks have joined forces to introduce two groundbreaking reference rates exclusively for the Asia-Pacific region, focusing on bitcoin and ether. Set to launch on September 11, the CME CF Bitcoin Reference Rate APAC (BRRAP) and CME CF Ether-Dollar Reference Rate APAC (ETHUSD_AP) will provide a daily reference rate for the USD prices of these digital assets, announced at 4pm Hong Kong/Singapore time.
These cutting-edge reference rates have been specifically designed to cater to the evolving needs of global participants in the rapidly expanding digital asset space. By offering accurate and timely pricing information during Asia-Pacific trading hours, these APAC reference rates will empower market participants to effectively hedge their cryptocurrency investments and optimize their portfolios.
With 37% of total crypto volume at CME Group already being traded outside of US hours, and 11% of trades originating from the APAC region, these reference rates are poised to revolutionize the way investors manage risks and seize opportunities in the market.
CME Group is renowned for providing clients with a comprehensive range of trading options, including futures, options, cash, and OTC markets, as well as powerful portfolio optimization and data analysis tools. Their expertise and global reach make them the go-to platform for market participants worldwide.
Meanwhile, CF Benchmarks is a trusted and regulated provider of cryptocurrency benchmarks, authorized by the UK FCA under EU BMR. Their benchmark indices, derived from market data obtained from six constituent exchanges, offer transparent governance and public methodologies that enable effective monitoring, pricing, and risk management of electronic financial products and services.
Stay tuned for more updates as CME Group and CF Benchmarks redefine the landscape of digital asset trading in the Asia-Pacific region.