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Cessation of Certain Settlement Prices and Spot Rates of the CF Cryptocurrency Index Family

The Administrator hereby announces the cessation of benchmarks for two Asset Pairs from the CF Digital Asset Index Family.

CF Benchmarks

• 1 min read
Cessation of Certain Settlement Prices and Spot Rates of the CF Cryptocurrency Index Family

The Administrator hereby announces the cessation of the below benchmarks from the CF Digital Asset Index Family:

Rationale for Cessation

The reason for cessation of these benchmarks is commercial.

Implementation Timeline

To promote an orderly transition and minimise market impact, the benchmarks will continue to be published until provision ceases from approximately 11:00 London time on July 29th, 2024, meaning that the last values to be published will be for July 28th, 2024.

In accordance with the Administrator's policies and procedures, this cessation will not be subject to a consultation process.

Alternative Benchmarks

Alternative benchmarks to those that are the subject of this announcement will be available from the Administrator.

 The alternative benchmarks will:

  • Utilise input data from the same pool of Constituent Exchanges
  • Utilise the same calculation methodology
  • Be published at the same time – 16:00 London Time, utilising input data from the most liquid period for trading in the Asset Pairs
  • Mean no loss of service for index users

Existing licensees will automatically be licensed to utilise the alternative benchmarks for all existing use cases.

The CF Oversight Function has overseen this process.

Questions or queries should be addressed to info@cfbenchmarks.com

Should any user wish to file a complaint regarding this cessation process, they can do so confidentially by emailing complaints@cfbenchmarks.com

Note: as of July 29th, 2024, XRPUSD_RR and XRPUSD_RR will begin utilising input data from LAMX Digital in addition to existing input data sources: Bitstamp; Kraken and Coinbase.

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CF Benchmarks is a member of the Crypto Facilities group of companies which is in turn a member of the Payward, Inc. group of companies. Payward, Inc. is the owner and operator of the Kraken Exchange, a venue that facilitates the trading of cryptocurrencies. The Kraken Exchange is a source of input data for certain CF Benchmarks indices. Payward, Inc. is the owner and operator of the Staked, a venue that operates the block production nodes for decentralized PoS protocols on behalf of institutional investors. Staked.us is a source of input data for certain CF Benchmarks indices.

Please refer to the individual product family documentation for more information about applicable input data sources.