CME Group plans to change the reference rate and the index on the air

According to the Chicago Mercantile Exchange (CME) website, itBit meets all the criteria for inclusion in the index. This may be a signal that CME futures contracts will be launched soon.

It is reported that the exchange department of the New York fintech company Paxos itBit will provide information on two indices for which data from the Bitstamp and Kraken exchanges are currently used. The Crypto Facilities digital asset trading service will continue to perform the functions of the index manager.

“I believe that in this way the CME is gradually moving towards launching futures on the air. But first they need to increase the reliability of the index, ”a source, whose name is not reported, told the Block information portal.

He also added that if the exchange does not have clear and reliable resource data, the futures calculated in fiat currency may be subject to various kinds of manipulations or simply will not reflect the real price of the instrument underlying the derivative.

“These are the restrictions that make CME turn to spot exchanges for real-time market data,” he said.

The Block appealed to the representative of the exchange with the question of whether it is planned to launch futures on the air in the near future. The representative of the exchange said that at the moment the staff is working to change the index and the reference rate.

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Note that this year bitcoin futures contracts were especially popular among traders. New records were set by several parameters at once, including the volume of trades and active positions. At the same time, itBit, Coinbase and Kraken are among the exchanges whose data are used to calculate the reference bitcoin futures rate.

The itBit exchange began trading in the spot market this year. Also, over the launch of their own futures on the broadcast platform ErisX and LedgerX. They have already received the appropriate permissions, allowing them to make settlements with participants in cryptocurrency trading.