itBit to Provide Pricing Data for CME Group's New Bitcoin Reference Rate and Real-Time Index Products


CME Group, in partnership with Crypto Facilities Ltd., announced plans this week to develop two new bitcoin pricing products. The CME CF Bitcoin Reference Rate (BRR) will provide a final settlement price in USD at 4pm London time each trading day while the CME CF Bitcoin Real Time Index (RTI) will allow users real-time access to bitcoin prices. Both products are expected to launch in Q4 of 2016.

itBit is among the bitcoin exchanges and trading platforms that will be providing the pricing data used to calculate the reference prices in both the BRR and RTI products. VP of Product, Kevin Wang, expressed itBit's support for the pricing products:

"We are excited to work with the CME and Crypto Facilities on what we expect will be a leading Bitcoin index." -Kevin Wang, itBit VP of Product