Mainstream exchange embrace of Bitcoin could lead to less volatility and further acceptance and new opportunities. In what can be seen as a mainstream financial world’s embrace of Bitcoin, the Chicago Mercantile Exchange (CME) and Intercontinental Exchange Inc. (ICE) are all set to publish data on prices of Bitcoin. CME is likely to start publishing this data in the fourth quarter of 2016 while ICE, the owner of the New York Stock Exchange (NYSE) is considering if it should include data from various exchanges for a daily settlement price which it has been publishing since May of 2015.
Recently Dwijen Gandhi of ICE told Reuters that NYSE will soon launch a real-time pricing index which he said would provide additional transparency and insight into the Bitcoin price. CME plans two new Bitcoin products
CME and ICE taking the Bitcoin dive is good news for the newly established ‘Digital Asset Class’. The participation of exchanges would allow investors and traders alike to easily acquire the information that they need to trade Bitcoin with more confidence.
According to a press release dated May 2, 2016, the CME group has said that they will collaborate with Crypto Facilities Ltd, a digital assets trading platform, and that they will be developing two new products which they plan to launch by Q4, 2016.
CME CF Bitcoin Reference Rate (BRR), which will provide a final settlement price in US dollars at 4 PM London Time on each trading day and the CME Bitcoin Real Time Index (RTI), which allows for real time access to Bitcoin prices.
Cointelegraph talked with Alex Gorbokon, Director, Corporate Marketing & Communications at CME Group about how these developments would affect Bitcoin prices and he says: “There is no current bitcoin reference rate which is considered “standard” market convention. There are many real time indices […]
