CME Group Launches Metaverse Indexes

Chicago Mercantile Exchange Group (CME Group) announced about the launch of indexes for the metaverse from January 30th. Together with the British provider of cryptocurrency indices CF Benchmarks, the marketplace will publish daily reference rates and indices on Axie Infinity (AXS), Chiliz (CHZ) and Decentraland (MANA). Writes about it RBC Crypto.

CME Group Inc. – the largest American platform for trading financial derivatives, uniting the Chicago Mercantile Exchange, the Chicago Board of Trade and the New York Mercantile Exchange. The platform trades futures and options based on interest rates, stock indices, foreign exchange, energy resources, agricultural products, metals, weather indices and real estate.

The exchange’s new indexes will not be a product, but will be used by market participants to “determine the prices of industry portfolios” and manage price risks for projects from the metaverse sphere, Giovanni Vichioso, head of cryptocurrency products at CME Group, explained in a press release.

Each of the new Axie Infinity, Chiliz and Decentraland indices will be calculated based on price data from at least two of these crypto exchanges: Bitstamp, Coinbase, Gemini, itBit, Kraken and LMAX Digital.

Rates will provide the USD price of each asset published once a day at 1600 London time (1300 Moscow time) and each respective index will be updated in real time around the clock once per second.

In 2017, CME launched trading in bitcoin futures, in early 2020 it opened trading in bitcoin options, and at the end of the same year, the site launched trading in futures on Ethereum.

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