Chicago Mercantile Exchange & Chicago Board of Trade – CME Group Inc. – launch more cryptocurrency pricing.
– CME is a financial market company operating in a futures exchange.
– It owns large derivatives and futures exchanges in New York City, Chicago, and London.
– Their first cryptocurrency index was launched just last year.
One of the biggest trading company in the world launched their second cryptocurrency index. CME has now created a benchmark for Ether. Ether trading, of the Ethereum network, is one of the biggest cryptocurrency markets worldwide.
Their first crypto index was launched just last year.
According to CME Managing Director Tim McCourt, “Providing price transparency and a credible price reference source is a key development for users of Ethereum. This means that it would also include Crypto Facilities and corresponding experts.
San Francisco Federal Reserve Bank has issued a research paper suggesting that CME’s introduction of a bitcoin derivative product provided traders with opportunities to short bitcoin and probably led to a decline in bitcoin’s price.
Author Lynne Marek talks more about this new here – http://www.chicagobusiness.com/.