CME CF Bitcoin Reference Rate (BRR) and CME CF Bitcoin Real Time Index (BRTI), a standardized reference rate and spot price index with independent oversight are accelerating the professionalization of bitcoin trading. BRR and BRTI launched November 14, 2016. Several bitcoin exchanges and trading platforms will provide pricing data, including Bitstamp, GDAX, itBit and Kraken.
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CME CF Bitcoin Reference Rate (BRR)
The BRR aggregates the trade flow of major bitcoin spot exchanges during a specific calculation window into a once-a-day reference rate of the U.S. dollar price of bitcoin. Calculation rules are geared toward a maximum of transparency and real-time replicability in underlying spot markets.
CME Group and Crypto Facilities Ltd. designed the BRR around the IOSCO Principles for Financial Benchmarks.
CME CF Bitcoin Real Time Index (BRTI)
The BRTI aggregates global demand to buy and sell bitcoin into a consolidated order book and reflects the fair, instantaneous U.S. dollar price of bitcoin. It is geared toward low latency and timeliness and is based entirely on forward-looking input data.
The BRTI is suitable for marking portfolios, executing intra-day bitcoin transactions and risk management.
The independent oversight committee is responsible for overseeing the scope of the Bitcoin Reference Rate by developing a code of conduct for the participants and regularly reviewing the practice, standards and definition of the reference rate to ensure it remains relevant and retains its integrity.
Core Oversight Team Members
Andreas M. Antonopoulos
Prof. William J. Knottenbelt
Imperial College London
Dr. Timo S. Schlaefer
Crypto Facilities Ltd.
Genesis Global Trading
What 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
"GDAX is proud to provide CME with price data for their newest index. As the largest U.S. based bitcoin exchange, GDAX believes this is an important step for the development of future financial products." — GDAX
"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
Subscribe to receive updates on the CME CF BRR and CME CF BRTI, and to receive free historical BRR data.
Crypto Facilities Ltd., Chicago Mercantile Exchange Inc. (including each of their respective subsidiaries and affiliates), their respective officers, directors, employees, agents, consultants and licensors shall not be liable to any person for any losses, damages, costs or expenses (including, but not limited to, loss of profits, loss of use, and direct or indirect, incidental, consequential or punitive damages), arising from any errors or inaccuracies made in connection with the calculation or distribution of the CME CF Bitcoin Reference Rate or the CME CF Bitcoin Real Time Index (the “Bitcoin Pricing Products”). The foregoing limitation of liability shall apply whether a claim arises in contract, tort, negligence, strict liability, contribution or otherwise and whether the claim is brought directly or as a third party claim. Furthermore, there is no guarantee the continuity of the composition of the Bitcoin Pricing Products, nor the continuity of their calculation, nor the continuity of their dissemination, nor the continuity of their calculation.Это интересно:
Bitcoin May Become A New Asset Class Says Chair Emeritus .
5 bitcoin, as defined by the CME CF Bitcoin Reference Rate (BRR)
Minimum Price Fluctuation
Outright: $5.00 per bitcoin = $25.00 per contract
Calendar Spread: $1.00 per bitcoin = $5.00 per contract
CME Globex and CME ClearPort: 5:00 p.m. – 4:00 p.m. CT Sunday – Friday
Nearest 2 months in the March Quarterly cycle (Mar, Jun, Sep, Dec) plus the nearest 2 "serial" months not in the March Quarterly cycle.
View Full Contract Specifications
Pending regulatory review and certification
View Rulebook Details
Setting Bitcoin’s Price Mechanism: CME Group to Launch BTC .
The initiative is expected to professionalize and legitimize bitcoin as a financial asset.
The CME Group is putting forward an initiative to publish Bitcoin prices as both a real time spot price index and a reference rate by traders, investors, and the public. This is the first time that a large asset exchange implements such a measure. Hopefully, the initiative will contribute to bitcoin legitimization as a financial asset.
The CME informs on its website that the CME CF Bitcoin Reference Rate (BRR) and the CME CF Bitcoin Real Time Index (BRTI) will be a standardized reference rate and spot price index with independent oversight. These tools are expected to boost the professionalization of bitcoin trading and hereafter establish digital assets as a new asset class.
The pricing data will be provided by such leading bitcoin exchanges and trading platforms as Bitfinex, Bitstamp, GDAX, itBit, Kraken and OKCoin.com.
“An independent, transparent bitcoin reference rate will further professionalize the asset class. We are excited to be a participating exchange”, Nejc Kodric, CEO at Bitstamp, says.
The CME Group explains: “The BRR aggregates the trade flow of these exchanges during a specific calculation window into a once-a-day reference rate of the U.S. dollar price of bitcoin. Calculation rules are geared toward a maximum of transparency and real-time replicability in underlying spot markets. Meanwhile, the BRTI is an index that aggregates global demand to buy and sell bitcoin into a consolidated order book and reflects the fair, instantaneous U.S. dollar price of bitcoin. It is geared toward low latency and timeliness and is based entirely on forward-looking input data.”
“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,” said Michael Moro, CEO of Genesis Global Trading.
The BRR and BRTI will officially launch November 14th, in the production environment on Simple Binary Encoding (SBE) market data feed.
Last year, CME Group partnered with some other financial institutions such as the London Stock Exchange, Euroclear, Societe Generale, Swiss bank UBS, and clearing house LCH.Clearnet, to establish a body that will investigate the potential applications of the blockchain in the payments industry. The aim of the team called ‘Post Trade Distributed Ledger Working Group’ was to explore how the technology may transform the way of conducting transactions.
“Our view is the technology needs to be developed in a considered and rigorous manner, in partnership with clients, to provide the right service and benefit to them. Given our long experience in post-trade, our group has significant technical expertise to bring to the discussion,” the London Stock Exchange, one of the partners, said.bitcoin debian ppa.
Module: What are Bitcoin Futures? - CME Institute
Bitcoin hit another all-time high Thursday morning, surpassing $7,000 for the first time.
The cryptocurrency has had a bullish streak throughout the week following the CME's announcement that it will introduce bitcoin futures contracts.
According to data from CoinDesk, the virtual currency reached an all-time high of $7,355.35 at about 7:16 a.m. ET before trading at $6,895.41. The jump in price saw the virtual coin rise by more than 7 percent on the day.
A surge in the digital coin's value saw the total market value of all cryptocurrencies top $189 billion for the first time Thursday. The market cap of bitcoin alone is currently more than $121 billion, according to data from industry website Coinmarketcap.
On Tuesday, the CME Group, the world's largest derivatives operator, said it would introduce bitcoin futures contracts. The introduction of such a product could bring more institutional investors into the market. Analysts believe this has been boosting the price.
CME said its bitcoin futures contract would be cash-settled and based on the CME CF Bitcoin Reference Rate (BRR), launched in November last year with London-based online trading platform Crypto Facilities.
"This is bitcoin crossing the divide from the wild west of finance to the mainstream," Charles Hayter, CEO of cryptocurrency comparison website Crypto Compare, told CNBC in an email Thursday.
"Futures from an incumbent exchange bring bitcoin and cryptocurrencies into the regulatory fold. This allows more complex financial products to be created and will eventually open the doors to institutional money."
A number of regulators have warned of illicit activity surrounding cryptocurrencies like bitcoin.
In September, China banned a practice known as "initial coin offerings" (ICOs). An ICO is a crowdfunding method for firms to raise funds by selling new cryptocurrencies.
China's regulators also moved to close down domestic bitcoin exchanges later that month. Both measures sent the price of bitcoin down sharply.
And on Wednesday, the U.S. Securities and Exchange Commission said that celebrity endorsements of ICOs could be "unlawful" if they do not disclose how they are benefiting.
Banking executives like JPMorgan CEO Jamie Dimon and Blackrock CEO Larry Fink have also criticized the cryptocurrency.
Dimon has made several comments on bitcoin, and last month said that investors "stupid enough to buy bitcoin" would "pay the price for it one day."
Fink called the virtual currency an "index of money laundering" that same day, raising concerns over fraudulent activity.
- CNBC's Arjun Kharpal and Evelyn Cheng contributed to this reportкак вывести биткоины с 2048.
Bitcoin Becomes Impossible To Ignore - INO.com Traders Blog
Yesterday’s Close: March corn futures finished yesterdays session unchanged, trading in a range of 3 ½ cents on the day. Funds were estimated buyers of 8,000 contracts on the day.
Fundamentals: Yesterdays export sales came in at 1,850,000 metric tons, this compares to the expected range from 1,000,000-1,700,000 metric tons. Corn bulls want to see a continued trend of better than expected exports to encourage additional short covering and new buying interest. The USD has been trading near multiyear lows which has helped revive some global demand. Weather in South America continues to be monitored as some are concerned of potential yield loss in areas of Argentina. Private estimates for the Brazilian crop have been increased from 23.44 mmt to 23.87 mmt.
Technicals: The market has been firming up over the past few weeks and it looks as though that may continue. The bulls must maintain price action above 357 ¼-358 ½ to remain in control. This pocket contains the 100-day moving average, along with a key retracement level. The next level of resistance comes in from 366 ½-369. If the bulls cannot defend support, we expect to see the market trickle back towards 350-352. The RSI (relative strength index) is currently at 69.32; a level we have not seen since we peaked last July.
Resistance: 366 ½-369****, 373-376***
Support: 357 ¼ -358 ½**, 350-352***, 345-346 ½***
Yesterday’s Close: March soybeans finished yesterdays session down 12 cents, trading in a range of 18 cents. Funds were estimated sellers of 8,000 contracts on the day.
Fundamentals: Soybean futures took a turn south yesterday on the back of very disappointing export sales. Weekly export sales came in at 358,900 metric tons, this compares to the estimated range from 600,000-1,200,000 metric tons. On top of the poor exports sales, chances of rain have worked back into the forecast for areas of Argentina that have been relatively dry. There are some seasonals in play that should be encouraging for the bulls. We have recently referenced a May buy, the November buy starts today. If you had bought on February first and sold on the 17th, you would have been profitable for 13 of the last 15 years, with the average gain being about 12 cents.
Technicals: Soybean futures tested and held the first test of 980 on a closing basis yesterday, but the market is under pressure and testing 980 again this morning. This puts the bulls back on their heels as we head towards the open. 971 ¼ is going to be the key line in the sand we are watching for as we round out the week; we like the value at this level on the first test. This represents a key Fibonacci retracement from the June lows to the July highs. The bears want to defend 986 ½-988 ¼ on a closing basis.
Resistance: 986 ½-988 ¼***, 999-1006***, 1020 ¼-1027****
Support: 971 ¾***, 961 ¼-963 ¼****
Yesterday’s Close: March wheat futures closed ¼ cent lower yesterday, trading in a range of 8 ¼ cents on the day. Funds were estimate buyers of 500 contracts.
Fundamentals: Wheat futures were under pressure to start yesterday morning as weekly export sales came in at 289,100 metric tons, this compares to the expected range from 300,000-600,000 metric tons. Weather premium has been the catalyst for encouraging higher prices on the back of fund short covering. The bulls need to see more bad news to continue the rally, neutral or no news will likely invite sellers back into the market. The USD is trading near multiyear lows which has also offered some support to the market.
Technicals: Wheat futures tested and held first support at 442 ¼ yesterday, finishing the day near unchanged. That support level remains a key focus today, another test and close below will likely mark a near term top as we would expect sellers to come back in and press us back towards 429 ¾. On the resistance side of things, the bears must defend 456 ¼-458 ¾. The RSI (relative strength index) has come off of overbought levels and is reading 60.78 this mornings.
Resistance: 456 ¼-458 ¾***, 472 ¾***
Support: 442 ¼ **, 429 ½***, 410 ½-413 ¼****