Sign in Subscribe
Announcement Featured

CF Benchmarks adds LMAX Digital as Constituent Exchange for CME CF Bitcoin Reference Rate, and CME CF Ether-Dollar Reference Rate

LMAX Digital will provide market data to six regulated crypto indices, calculated and administered by CF Benchmarks

CF Benchmarks

• 3 min read
CF Benchmarks adds LMAX Digital as Constituent Exchange for CME CF Bitcoin Reference Rate, and CME CF Ether-Dollar Reference Rate

LMAX Digital will provide market data to six regulated crypto indices, calculated and administered by CF Benchmarks

London, 31 March 2022 – CF Benchmarks has today announced it is adding the market data of LMAX Digital, the leading institutional spot cryptocurrency exchange and custodian, to some of its most liquid and most referenced benchmarks.

Effective May 3, 2022, at 11am London time, LMAX Digital will contribute market data to six cryptocurrency indices provided by CF Benchmarks.

These include the CME CF Bitcoin Reference Rate (BRR) and CME CF Bitcoin Real Time Index (BRTI), the CME CF Ether-Dollar Reference Rate (ETHUSD_RR) and CME CF Ether-Dollar Real Time Index (ETHUSD_RTI), among other cryptocurrency indices.

Together, these benchmarks have over $5 billion in assets referenced, the largest of any regulated BTC and ETH index.

CF Benchmarks underpins 99% of the regulated crypto derivatives market, including the contracts offered by CME Group, as well as some of the largest digital asset products by AuM. The first Bitcoin futures ETF to launch in the US settles against indices powered by CF Benchmarks.

Bringing in LMAX Digital will further enhance the quality of market data underlying the CME CF BRR and BRTI, ensuring the reference rates remain the most accurate and liquid representation of the underlying market for Bitcoin-USD transactions.

“Adding LMAX Digital as a constituent exchange to some of CF Benchmarks’ most-referenced indices means we can continue to provide the robust, high integrity benchmarks that the cryptocurrency space has become accustomed to, and indeed relies on,” said Sui Chung, CEO of CF Benchmarks.

“We’re pleased with the addition of LMAX Digital to our transparent, regulated Bitcoin and Ether reference rates and real-time indices, developed in partnership with CF Benchmarks,” said Tim McCourt, Global Head of Equity and FX Products CME Group. “The inclusion of other constituent exchanges like LMAX Digital will capture broader market participation and further enhance the robustness of these benchmarks at a time when institutional participants are increasingly using our bitcoin and ether futures and options to trade or hedge spot market price risk.”

Jenna Wright, Managing Director, LMAX Digital added: “We firmly believe in creating frictionless market access for all institutions wanting to participate in the cryptocurrency ecosystem. The provision of transparent and robust real time pricing data is critical to enhancing market structure, accurate price discovery and ultimately, is what will help to drive real market growth in the adoption of crypto.”

About CF Benchmarks

CF Benchmarks is the leading provider of cryptocurrency benchmark indices, authorised and regulated by the UK FCA under the EU BMR. Composed of market data from six constituent exchanges, its benchmark indices are provided through public methodologies and transparent governance, for tracking, valuing and settling risk in cryptocurrency financial services and products. CF Benchmarks’ indices have been used to settle over $500bn of cryptocurrency derivative contracts listed for trading by CME Group and Kraken Futures.

For further information about CF Benchmarks, please visit www.cfbenchmarks.com or contact us here: info@cfbenchmarks.com.

About LMAX Digital

LMAX Digital is a regulated institutional spot crypto currency exchange, run by the LMAX Group, which also operates several leading FCA regulated trading venues for FX, metals and indices. Based on proven, proprietary technology from LMAX Group, LMAX Digital allows global institutions to acquire, trade and hold the most liquid digital assets, Bitcoin, Ethereum, Litecoin, Bitcoin Cash and XRP, safely and securely.

LMAX Digital delivers complete transparency, open access and a level playing field for all crypto currency market participants, within a secure and trusted trading environment.

LMAX Digital is regulated by the Gibraltar Financial Services Commission (GFSC) as a DLT provider for execution and custody services.

For further information about LMAX Digital, please visit www.lmaxdigital.com or reach out to LMAX Group press office at press@LMAX.com or LMAXGroup@fticonsulting.com

Understand CME CF Bitcoin Reference Rate (BRR) in less than 5 minutes by watching the video below.

The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell any of the underlying instruments cited including but not limited to cryptoassets, financial instruments or any instruments that reference any index provided by CF Benchmarks Ltd. This communication is not intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. Please contact your financial adviser or professional before making an investment decision.

CF Benchmarks Ltd (“CF Benchmarks”), a company registered in England and Wales with company number 11654816 and authorised and regulated by the Financial Conduct Authority. Information about us can be found on the Financial Services Register (register number 847100).

Registered Office: 6th Floor One London Wall, London, United Kingdom, EC2Y 5EB.

You agree not to, and have no rights to, use the CF Benchmarks Data to create, calculate, issue, settle, maintain, support or develop any financial instruments (including but, without limitation exchange traded products, certificates, warrants, contracts for difference, swaps, binary options, structured products), indices, products, services (including but without limitation, portfolio management services, pre- and post-trade risk management services, or valuation services) or any other derivative works without the express written consent of CF Benchmarrks.

You agree not to analyze, reverse-engineer or disassemble any CF Benchmarks data and not to insert any code or product to manipulate the Website content in any way that affects any user’s experience. Unless CF Benchmarks gives you prior written permission, use of any Web browsers (other than generally available third-party browsers), engines, scripts, software, spiders, robots, avatars, agents, tools or other devices or mechanisms (such as crawlers, browser plug-ins and add-ons, or other technology) to navigate, access, copy in bulk, retrieve, harvest, index, search or analyse any portion of the Website is strictly prohibited.

No part of this information may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without prior written permission of CF Benchmarks Ltd. Use and distribution of the CF Benchmarks data requires a license from CF Benchmarks or its authorized licensing agents.

All information is provided for information purposes only. All information and data contained on this website is obtained by CF Benchmarks, from sources believed by it to be accurate and reliable. Such information and data is provided "as is" without warranty of any kind.

CF Benchmarks, nor its directors, officers, employees, partners or licensors make any claim, prediction, warranty or representation whatsoever, expressly or implied, either as to the accuracy, timeliness, completeness or merchantability of any information or of results to be obtained from the use of the CF Benchmarks indices or the fitness or suitability of the same indices for any particular purpose to which they might be put. Any representation of historical data accessible through CF Benchmarks indices is provided for information purposes only and is not a reliable indicator of future performance.

No responsibility or liability can be accepted by CF Benchmarks nor their respective directors, officers, employees, partners or licensors for any loss or damage in whole or in part caused by, resulting from, or relating to any error (negligent or otherwise) or other circumstance involved in procuring, collecting, compiling, interpreting, analysing, editing, transcribing, transmitting, communicating or delivering any such information or data or from use of this website or links to this website.

CF Benchmarks and its respective directors, officers, employees, partners or licensors do not provide investment advice and nothing accessible through CF Benchmarks, should be taken as constituting financial or investment advice or a financial promotion. Charts and graphs are provided for illustrative purposes only. Index returns shown may not represent the results of the actual trading of any assets.

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.