Grupo CME introduces two indicators of the price of ether in its platform

Going deeper into the world of cryptocurrencies, the Chicago Mercantile Exchange Group (CME), one of bitcoin's main futures trading platforms, announced in a press release on Monday the launch of the Ether-Dollar Index Rate (ERR). ), which will reflect the daily price of the cryptocurrency, and the real-time Ether-Dollar Real-Time Index (ERTI).

The announcement states that there was an association with Crypto Facilities, a UK trading platform that specializes in this type of index. The data to calculate these indices are based on transactions and order book of two of the largest exchange houses, Kraken and Bitstamp, the statement said.

By formalizing the publication of these indexes, the CME group, which gained notoriety in the ecosystem for launching the purchase and sale of bitcoin futures in December 2017, involves the second most important cryptocurrency in market value, the ether, although soon just to keep his clients more informed, who have already handled BTC futures. But it is within the possibilities that this announcement leads the CME to also offer the sale of ether futures, despite the fact that last February it denied such possibility.

At the moment, the CME assures that it is the evolution of digital asset technology that leads to the diversification of its participation, which is concretized with the publication of ERR and ERTI:

The CME Group is committed to supporting open standards, diversifying participation and cultivating the highest standards and protocols as the space of cryptocurrencies and digital asset technology evolves. Our BRR and BRTI indices have been widely accepted and customers are looking for reference prices of similar quality in other cryptocurrencies. Ether is the second largest cryptocurrency, both in its capitalization value and in the daily volume.

In the case of BTC, a year passed between the introduction of the Bitcoin-Dollar reference data and the Bitcoin-Dollar index in real time, the same indexes announced today for the ether, and the effective launch of the futures sale in its platform.

Should there be a possible announcement about future sales of ether by CME, this would be a huge boost for the second cryptocurrency (according to the CoinMarketCap ranking); especially if we take as a reference the effect that they have already had on the price of bitcoin, whose boom and decline of December 2017 is linked, according to a recent study, to the sale of futures.