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23 September 2019

CME's Bitcoin Index Provider Wins First Crypto Benchmark License in EU

CME's Bitcoin Index Provider Wins First Crypto Benchmark License in EU


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The U.K.’s Financial Conduct Authority (FCA) authorized CF Benchmarks as an administrator on Friday, affirming that financial institutions can use the company’s indices in any European financial products after the BMR takes full effect on Jan.

Sui Chung, CEO of CF Benchmarks – which notably provides the indices used by CME Group for its bitcoin futures contract – told CoinDesk that this marks a first for cryptocurrency companies in the EU.

“Here in Europe the use of indices and provision of indices is regulated, so for all regulated firms in Europe if they use a benchmark then they have to make sure that it comes from a regulated benchmark provider,” he explained.

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