The Administrator hereby announces that a consultation shall be launched for the Administrator proposal of cessation of the following benchmarks that are members of the CF Cryptocurrency Index Family:
CF Bitcoin Cash – Dollar Settlement
CF Bitcoin Cash – Dollar Spot Rate
CF Litecoin – Dollar Settlement Price
CF Litecoin – Dollar Spot Rate
Rationale for Cessation
The reason for cessation of these benchmarks is commercial and the Administrator shall be launching benchmarks to replace these that will:
· Utilise input data from the same pool of Constituent Exchanges
· Utilise the same calculation methodology
· Are published at the same time – 1600 London, utilising input data during the most liquid period for trading in the Asset Pairs
· Mean no loss of service for index users
This consultation process shall begin on March 28th2022 and end on April 11th 2022 under the oversight of the CF Oversight Function. All responses shall be treated confidentially in accordance with the Administrators policies and processes. Al stakeholders are invited to submit a response to the consultation on any aspect of the proposal.
Proposed Implementation Timeline
To promote an orderly transition and minimise any market impact these benchmarks the Administrator proposes provisoon of these benchmarks shall cease from 1100 London time on April 25th 2022 meaning that the respective Settlement Prices for April 24th will be the final ones published
In accordance with the Administrators policies and procedures this cessation is subject to a consultation process.
Alternative benchmarks to those that are the subject of this announcement will be available from the Administrator and shall be determined using the same calculation methodology and published at the same time as the benchmarks that are the subject of this announcement. They will be available to license from the Administrator and all existing licensees will automatically be licensed for these alternative benchmarks for existing use cases.
Should any market participants have any questions or queries please do not hesitate to contact email@example.com
Should any users wish to file a complaint regarding this consultation and cessation process this can be done confidentially at firstname.lastname@example.org
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.