CME launches CME CF Reference Rates for Axie Indinity (AXS), Chiliz (CHZ), Decentraland (MANA)

Rick Steves

“With increased price transparency across more cryptocurrency products, market participants will be able to price sector-specific portfolios, develop structured products with greater confidence and manage price risk around various Metaverse-based projects.”

CME Group has launched three new Metaverse reference rates and real-time indices, which will be calculated and published daily by CF Benchmarks, beginning January 30.

CF Benchmarks is a provider of cryptocurrency benchmark indices authorized and regulated by the UK FCA under the EU BMR. Its benchmark indices are composed of market data from six constituent exchanges and have been used to settle over $500bn of cryptocurrency derivative contracts listed for trading by CME Group and Kraken Futures.

Axie Infinity, Chiliz, and Decentraland

These reference rates and indices are not tradable futures products. CME CF Reference Rates and Real-Time Indices are based on methodologies that have regular expert oversight and are designed to meet the growing need for transparent, regulated, and round-the-clock pricing.

Three new Metaverse reference rates and real-time indices include:

  • Axie Infinity (AXS)
  • Chiliz (CHZ)
  • Decentraland (MANA)

Each of these new reference rates will provide the U.S. dollar price of each digital asset, published once-a-day at 4 p.m. London time, while each respective real-time index will be published once per second, 24 hours a day, 365 days per year.

Reference rates for better pricing, structured products, and risk management

These new Metaverse benchmarks will utilize pricing data from those leading crypto exchanges and trading platforms that are current constituent exchanges for the CME CF Benchmark suite of reference rates and real-time indices.

Each of the new Axie Infinity, Chiliz, and Decentraland benchmarks will be calculated with pricing data from a minimum of two of these exchanges – Bitstamp, Coinbase, Gemini, itBit, Kraken, and LMAX Digital.

Giovanni Vicioso, CME Group Global Head of Cryptocurrency Products, commented: “As we continue to see a rising interest in Metaverse projects, CME Group, in partnership with CF Benchmarks, will expand its suite of regulated, non-tradable Cryptocurrency Reference Rates and Real-Time Indices to include three new Metaverse tokens. With increased price transparency across more cryptocurrency products, market participants will be able to price sector-specific portfolios, develop structured products with greater confidence and manage price risk around various Metaverse-based projects.”

Sui Chung, CEO of CF Benchmarks, said: “These benchmarks will provide accurate and resilient pricing data for tokens linked to the Metaverse, an exciting new scion of crypto where properties and communities can exist wholly within a virtual realm. CF Benchmarks is proud to continue its work with CME Group, providing investors with exposure to all facets of the digital asset class with reference rates that meet the high benchmarking standards they’ve come to expect.”

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