CME will track Ethereum quotes on another Bitcoin exchange

The Chicago Mercantile Exchange (CME) reported changes in the formation of its own Ethereum price index. Now the data will be collected from the itBit marketplace, which is owned by fintech company Paxos.

Starting July 15 at 10:30 am CT, it will be an appeal to the Ether-Dollar Reference Rate and Real-Time Index. https://t.co/MQAkVpCIPi pic.twitter.com/WyHuBSt55N

– CMEGroup (@CMEGroup) July 5, 2019

So, itBit fully meets the CME requirements for reliability and transparency of data for inclusion in the index. Note that before this data was provided only by Bitstamp sites, on which liquidity recently caused doubts in the community, and Kraken. The index administrator is the Crypto Facilities [platform owned by Kraken] platform.

itBit is on the list of trusted exchanges from Bitwise Asset Management, the report of which provoked fierce debates about combating fake trading volumes , as well as included in the rating of reliable sites from Openmarketcap.

Some representatives of the industry have already suggested that this decision favors the possible launch of Ethereum futures in the near future. It should be added that CME never officially announced such plans, although a year ago, in private conversations, its representatives confirmed that they were considering working with contracts for the second cryptocurrency by capitalization.

Ethereum delivery futures are not only pondered in CME. Such plans have at once two derivative sites: ErisX and LedgerX. The latter has recently received the necessary permissions from the US Commodity Futures Trading Commission (CFTC).

Recall the launch of the indices on Ethereum by CME took place in May last year.

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