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CF Benchmarks Authorised and Regulated by the FCA under EU BMR

CF Benchmarks becomes first cryptocurrency index provider to receive FCA authorisation. Will allow asset managers and trading firms to create cryptocurrency products and funds, including ETFs, in compliance with European regulation.

CF Benchmarks

• 2 min read
CF Benchmarks Authorised and Regulated by the FCA under EU BMR

CF BENCHMARKS BECOMES FIRST CRYPTOCURRENCY INDEX PROVIDER TO RECEIVE FCA AUTHORISATION

Will allow asset managers and trading firms to create cryptocurrency products and funds, including ETFs, in compliance with  European regulation

LONDON, 1100 September 13, 2019

CF Benchmarks, the leading cryptocurrency index provider and owner of the CME CF Bitcoin Reference Rate, today announced it has received authorisation from the Financial Conduct Authority (FCA) as a Benchmark Administrator under European Benchmarks Regulation (EU BMR).  CF Benchmarks is the first cryptocurrency index provider to be regulated by the FCA.

The FCA authorisation will allow regulated financial services firms to use CF Benchmarks’ indices in financial products originated, marketed or traded in Europe once EU BMR comes into full effect on January 1,  2020.  The BMR affects banks, brokerages, exchanges, asset managers and issuers of financial products that operate in Europe.

Sui Chung, CEO of CF Benchmarks, said: "We are proud to be the first  regulated cryptocurrency index provider to meet the EU BMR’s stringent requirements.  The industry can now gain access to regulated, high  integrity benchmarks, which will spur innovation, furthering the adoption of digital assets in Europe and beyond.  Reliable and trusted benchmarks are critical to growing the cryptocurrency ecosystem as they  attract more individual and institutional investors  to the asset  class.”

CF Benchmarks’ FCA authorisation enables service providers to create regulated financial products referencing the firm’s cryptocurrency indices, in compliance with BMR.  This includes issuing, trading and  investing in products referencing indices; and using indices to define the asset allocation of a portfolio, measure fund performance and determine borrowing rates and contract settlement mechanisms.

CF Benchmarks administers and calculates the CME CF Cryptocurrency Pricing Products and the CF Cryptocurrency Index Family.  CF Benchmarks applies proven indexing techniques and methodologies to products unique to the cryptocurrency asset class.  This method produces a robust framework with anti-manipulation safeguards to ensure the quality, integrity and reliability of its indices.  To learn more about how professional investors use the CF Benchmarks indices to manage cryptocurrency assets, please visit www.cfbenchmarks.com. -Ends-

Contact:

teresa@cfbenchmarks.com Tel: +44 7747 468486

info@cfbenchmarks.com Tel: +44 20 7655 6085

About CF Benchmarks

CF Benchmarks (formerly known as Crypto Facilities Indices) is the leading cryptocurrency index provider, calculating and administering a suite of indices including the CME CF Bitcoin Reference Rate that powers a range of financial products such as the CME Group’s Bitcoin futures.  CF Benchmarks is a wholly owned subsidiary of Kraken, a constituent exchange contributing data to all CF Benchmarks indices.  CF Benchmarks Ltd is registered in England with registered number 11654816 and registered office at 25 Copthall Avenue, London EC2R 7BP, United  Kingdom.  CF Benchmarks is authorised and regulated by the UK Financial Conduct Authority as a registered Benchmark Administrator (FRN 847100) under the EU benchmark regulation (Regulation (EU) 2016/1011.  For more information, please visit www.cfbenchmarks.com

Notes to Editors CF Benchmarks offers the following market-leading cryptocurrency pricing products and indices:

CME CF Cryptocurrency Pricing Products

  • CME CF Bitcoin Reference Rate
  • CME CF Ether-Dollar Reference Rate
  • CME CF Bitcoin Real Time Index
  • CME CF Ether-Dollar Real Time Index

CF Cryptocurrency Index Family

  • CF Bitcoin Cash-Dollar Settlement Price
  • CF Litecoin-Dollar Settlement Price
  • CF Ripple-Dollar Settlement Price
  • CF Ripple-Bitcoin Settlement Price
  • CF Bitcoin Cash-Dollar Spot Rate
  • CF Litecoin-Dollar Spot Rate
  • CF Ripple-Dollar Spot Rate
  • CF Ripple-Bitcoin Spot Rate

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.