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<div class="cryptonews"> 
 <p class="is-style-lead">CME Group will launch Bitcoin (BTC) and Ether (ETH) reference rates for the Asia Pacific region.</p> 
 <p>On Aug. 16, CME Group announced it would launch the new reference rates on Sept. 11.</p> 
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    <p lang="en" dir="ltr">CME CF APAC Bitcoin and Ether Reference Rates launch Sept. 11, providing daily prices at 4 p.m. HKT and SGT and complementing existing London and New York time rates. https://t.co/j3r7yCfe45 pic.twitter.com/6tOadpk51M</p>— CME Group (@CMEGroup) August 17, 2023 
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 <p>The senior director for digital currency products at CME Group, Giovanni Vicioso, indicated that introducing the latest reference rates aims to address the changing requirements of international players in the expanding digital asset industry.</p> 
 <p>Vicioso pointed out that this year saw nearly 37% of their cryptocurrency trades occur outside U.S. business hours, with a significant 11% originating from the APAC <a rel="noopener noreferrer nofollow" title="region" href="https://thebittimes.com/tag/region.html">region</a>.</p> 
 <p>He further commented that including APAC <a rel="noopener noreferrer nofollow" title="reference" href="https://thebittimes.com/tag/reference.html">reference</a> <a rel="noopener noreferrer nofollow" title="rates" href="https://thebittimes.com/tag/rates.html">rates</a> will empower market players to hedge against cryptocurrency price fluctuations more effectively, synchronizing better with their portfolio timings.</p> 
 <p>CME’s reference rates will be used for the APAC region, focusing on pricing settlements of crypto futures contracts. They will focus on BTC and ETH and will be published daily at 4 pm Hong Kong time.</p> 
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 <p>The company has other <a rel="noopener noreferrer nofollow" title="reference" href="https://thebittimes.com/tag/reference.html">reference</a> <a rel="noopener noreferrer nofollow" title="rates" href="https://thebittimes.com/tag/rates.html">rates</a> for BTC and ETH, published under London and New York time zones. CME also has <a rel="noopener noreferrer nofollow" title="reference" href="https://thebittimes.com/tag/reference.html">reference</a> <a rel="noopener noreferrer nofollow" title="rates" href="https://thebittimes.com/tag/rates.html">rates</a> for metaverse projects like Axie Infinity Shards, Chiliz (CHZ), and Decentraland (MANA).</p> 
 <p>The firm has been helping investors and traders worldwide by providing different data, like reference rates that work towards crypto spot exchanges like Coinbase, Gemini, and Kraken.</p> 
 <p>These <a rel="noopener noreferrer nofollow" title="rates" href="https://thebittimes.com/tag/rates.html">rates</a> are usually used for pricing settlement of futures contracts, including CME’s Bitcoin and Ether futures products.</p> 
 <p>During the last few months, different countries inside the Asian region have been developing strong cryptocurrency ecosystems, like Hong Kong and Singapore. CME’s new launching is aligning with the current growth that the Asian region is having in the cryptocurrency industry.</p> 
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CME to launch BTC and ETH reference rates in APAC region

TheBitTimes

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