Revolutionizing Crypto Markets: CME Group's XRP and ICP Indices
Introduction
CME Group launches ICPUSD_RR and XRPUSD_RR, offering daily settlement rates and real-time prices updated every second.
Ripple CEO Brad Garlinghouse hails it as pivotal for institutional crypto products, with researcher Collin Brown dubbing it "Big Ripple News."
CF Benchmarks, FCA-licensed, ensures accuracy by aggregating data from every global crypto exchange like Coinbase and Kraken, relevant for crypto exchanges in India and BTC to INR conversions.
CME Group Introduces New Indices for XRP and ICP
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The new indices, ICPUSD_RR (Internet Computer-Dollar Reference Rate) and XRPUSD_RR (XRP-Dollar Reference Rate), will provide daily settlement rates.
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They will also offer real-time prices, updated every second to reflect current market conditions.
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In response to this significant breakthrough, Ripple CEO Brad Garlinghouse remarked that establishing consistent reference rates is the first step toward developing institutional crypto products.
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Blockchain researcher Collin Brown also expressed enthusiasm, referring to it as "Big Ripple News."
CF Benchmarks Ensures Accurate and Reliable Indices for Financial Markets
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According to CF Benchmarks, licensed by the UK's Financial Conduct Authority (FCA), these indices adhere to strict standards of accuracy and integrity.
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These indices are designed to be resistant to manipulation and reproducible, providing market participants with accurate information.
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CF Benchmarks aggregates order data from major cryptocurrency exchanges, including Coinbase and Kraken, to ensure comprehensive and accurate price data.
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Introducing these new indices for Internet Computer and XRP aligns with our mission to enhance transparency and reliability in cryptocurrency markets," said a CME Group representative.
Conclusion
CME Group's new indices, ICPUSD_RR and XRPUSD_RR, provide daily settlement rates and real-time prices.
Ripple CEO Brad Garlinghouse and researcher Collin Brown praise the move as pivotal for institutional crypto products.
Under FCA oversight, CF Benchmarks ensures accuracy by aggregating data from major exchanges like Coinbase and Kraken, enhancing global crypto exchange app market transparency.
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