CME CF Bitcoin Reference Rate and Bitcoin Real-Time Index
CME CF Bitcoin Reference Rate (BRR) and CME CF Bitcoin Real Time Index (BRTI), a standardized reference rate and spot price index with rules-based oversight, are accelerating the professionalization of bitcoin trading and further establishing cryptocurrencies as a new asset class.
The BRR is a daily reference rate of the U.S. Dollar price of one bitcoin as of 4:00 p.m. London time. It is representative of the bitcoin trading activity on constituent exchanges.
The BRTI is a real time index of the U.S. Dollar price of one bitcoin, published once per second (24 hours per day, 7 days per week, 365 days per year). It is representative of current bids and offers of market participants to buy or sell bitcoin on constituent exchanges.
CME Group launched the BRR and BRTI on November 14, 2016 in partnership with Crypto Facilities Ltd (CF).
18 months since product launch
24x7 continuous pricing, run succesffully every day since launch
545 times the BRR has published
47M times the BRTI has published
6 approved exchanges (4 are participating)
3 ways to access: via Market Data Platform (MDP), CME DataMine or on the CME Group website
By the Numbers
Built with Integrity, Transparency and Reliability
Tracks benchmark best practices with full calculation transparency
Transparent calculation methodology reviewed by Imperial College
Reliable products in times of high market volatility
Algorithmic calculation with built-in controls
Governed by an oversight committee of industry experts
Constituent Exchanges
What the Bitcoin Exchanges are Saying
"An independent, transparent bitcoin reference rate will further professionalize the asset class. We are excited to be a participating exchange."
Nejc Kodric, CEO — Bitstamp
"Coinbase is proud to provide CME with price data for their newest index. As the largest U.S. based bitcoin exchange, Coinbase believes this is an important step for the development of future financial products."
— Coinbase
"Digital currency has long-needed participation from a company such as CME Group to elevate the asset class to a new level. We are thrilled to be a member of the oversight committee."
Michael Moro, CEO — Genesis Global Trading
"We are excited to work with the CME and Crypto Facilities on what we expect will be a leading Bitcoin index."
Kevin Wang, VP Product — itBit
"This is an exciting initiative and brings the asset class to a new level. As a market-leading digital asset exchange, Kraken is proud to contribute to the reference rates."
Jesse Powell, CEO — Kraken
All examples in this report are hypothetical interpretations of situations and are used for explanation purposes only. The views in this report reflect solely those of the author and not necessarily those of CME Group or its affiliated institutions. This report and the information herein should not be considered investment advice or the results of actual market experience.
