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
Bitcoin trading involves a high degree of risk. The bitcoin market is new and unproven and may
not grow. Currently, there is relatively small use of bitcoin in the retail and commercial
marketplace in comparison to relatively large use by speculators, thus contributing to
price volatility that could adversely affect an investment in bitcoin. In order to
participate in the trading of bitcoin, you should be capable of evaluating the
merits and risks of the investment and be able to bear the economic risk of
losing your entire investment. No material at this site should be considered
as an offer by itBit to sell or solicitation by itBit of any offer to buy bitcoin.