CME Group’s Bitcoin Real-Time Index (BRTI) we learned today is now available via the cloud – interested parties can subscribe to the data feed and connect via CME Group’s DataMine API.
First announced back in May of 2016, the index officially launched on November 14th, CME Group and digital asset trading provider Crypto Facilities Ltd. are collaborating on the Bitcoin Real Time Index.
Subscribers can get 24/7 market data access to the CME CF Bitcoin Reference Rate (BRR) and CME CF Bitcoin Real Time Index (BRTI).
– The BRTI will be published once every second. Check out the BRTI methodology in a PDF here.
– 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.
The CME CF Bitcoin Reference Rate (BRR) is intended to facilitate financial products based on bitcoin. For instance, it may serve as a reference rate in the settlement of financial derivatives based on the bitcoin price, or in the net asset value (NAV) calculation of exchange traded funds (ETFs).
This BRR will be important down the road as the U.S. Securities & Exchange Commission (SEC) is still waiting to approve the Winklevoss brothers Bitcoin Trust to trade on BATS. In addition, the SEC has also issued delays to SolidX on a bitcoin-based ETF to trade on NYSE Arca, with decisions to come in March. While the U.S. regulators may be dragging their feet, other exchanges have already listed bitcoin asset funds as traded instruments, including just recently GABI’s global bitcoin fund being listed on the Channel Islands Securities Exchange.
Back in May, Sandra Ro, Executive Director and Digitization Lead at CME Group said:
These products are designed to allow bitcoin traders, companies and other users to rely on a credible reference rate price source. Delivering innovative products and services that meet the market’s evolving needs is at the core of CME Group’s business, and we are proud to lead the way for the industry as digital assets develop.
Several bitcoin exchanges and trading platforms are providing pricing data, including Bitfinex, Bitstamp, GDAX, itBit, Kraken and OKCoin.com (HK).