Later this month, CME Group plans to introduce three new cryptocurrency reference rates

This month, the world’s largest derivatives exchange, CME Group, will introduce three new cryptocurrency reference rates.

In collaboration with CF Benchmarks, reference rates for the native tokens of the Avalanche, Tezos, and Filecoin blockchains will go live on the CME as of October 31.

The reference rates will display the price of each token in U.S. dollars and will be released once every day at 4 p.m. BST. The corresponding real-time index will be released once per second, 24 hours a day, 365 days a year.

Data for these reference rates will be provided by Bitstamp, Coinbase, Gemini, itBit, Kraken, and LMAX Digital.

Giovanni Vicioso, the global head of cryptocurrency products for CME Group, predicts that the CME CF Reference Rates and real-time indices will account for more than 92% of the investable cryptocurrency market value.

“These new benchmarks are designed to allow traders, institutions, and other users to access a much broader range of cryptocurrencies through a suite of products they are already familiar with, allowing them to confidently and more accurately manage cryptocurrency price risk, value portfolios, or create structured products like ETFs,” Vicioso concluded.

Despite the fact that these are reference rates and not tradable futures, the addition of new reference rates may portend future additions to the CME’s tradable crypto futures. CME launched ether options on September 12 to begin its range of cryptocurrency derivatives products last month.