Derivatives Leader CME Launches Bitcoin Benchmark Rates; NYSE to Follow
In a major move that is undoubtedly going to benefit and bring credibility to bitcoin and digital currencies, derivatives giant CME Group has announced the launch of two bitcoin benchmarks as its newest products. CME Group rival ICE (Intercontinental Exchange Inc) which owns the New York Stock Exchange, will also launch a real-time price index for bitcoin price. Described by The Economist as “the biggest financial exchange you’ve never heard of,” Chicago-based CME (Chicago Mercantile Exchange) Group owns and operates some of the largest derivatives and futures exchanges in multiple cities....
Related News
The New York Stock Exchange (NYSE) has today announced the launch of a bitcoin price index (NYXBT). NYXBT will represent the daily US dollar value of one bitcoin at 4pm (BST) and will be published on the NYSE Global Index Feed (GIF). For a limited period it will also be viewable on the NYSE's website. Thomas Farley, NYSE group president, said in a statement: "Bitcoin values are quickly becoming a data point that our customers want to follow as they consider transacting, trading or investing with this emerging asset class." He added: "As a global index leader and administrator of ICE LIBOR,....
The New York Stock Exchange today launched its NYSE Bitcoin Index (NYXBT) to track the price of bitcoin and give the digital currency's value a definitive global benchmark. This move by one of the largest and most influentialstock exchanges in the world gives bitcoin new legitimacy and "gravitas" and may seal its spot in first place as the digital currency of choice. New York Stock Exchange President Thomas Farley made the announcement today saying in a news release:"Bitcoin values are quickly becoming a data point that our customers want to follow as they consider transacting, trading or....
Seven member banks of the R3 consortium, an association of the world’s leading banks and financial institutions for Blockchain research, have come to a consensus to settle a US$324 million U.S lawsuit. It has been filed for manipulating an interest rate benchmark in the $553 trillion derivatives market. Jesse Furman, US District Judge, says: "It appears that this sort of rate manipulation can be both economically sensible and feasible given that many banks have admitted in approximately the same period of time, they conspired to fix similar benchmark rates - namely, Libor and the....
A few weeks ago Bitcoin Magazine reported that Tera Group, which operates the first regulated U. S. Bitcoin derivatives exchange, will take a controlling stake in public company MGT Capital Investment to create the first publicly traded U. S. Bitcoin derivatives exchange. On Monday, Tera Group announced the appointment of former New York Stock Exchange (NYSE) CEO Duncan Niederauer as an advisory director. Before joining NYSE in 2007, Niederauer was managing director and co-head of the Equities Division Execution Services franchise at Goldman Sachs. "This is an excellent opportunity to....
Tera Group, a bitcoin derivatives platform, recently announced that former New York Stock Exchange (NYSE) CEO Duncan Niederauer will be joining their firm as an Advisory Director. The firm has already gained approval from the Commodity Futures Trading Commission (CFTC), which is a financial regulatory agency in the United States, for its trading platform but the bitcoin derivatives have yet to gain accreditation. Tera Group has also entered a reverse merger agreement with MGT Capital, allowing the company to go public. However, the final terms of the agreement are still being discussed,....