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Feb 06, 2020

CF Benchmarks Authorised and Regulated by the FCA under EU BMR

CF BENCHMARKS BECOMES FIRST CRYPTOCURRENCY INDEX PROVIDER TO RECEIVE FCA AUTHORISATION

Will allow asset managers and trading firms to create cryptocurrency products and funds, including ETFs, in compliance with  European regulation

LONDON, 1100 September 13, 2019

CF Benchmarks, the leading cryptocurrency index provider and owner of the CME CF Bitcoin Reference Rate, today announced it has received authorisation from the Financial Conduct Authority (FCA) as a Benchmark Administrator under European Benchmarks Regulation (EU BMR).  CF Benchmarks is the first cryptocurrency index provider to be regulated by the FCA.

The FCA authorisation will allow regulated financial services firms to use CF Benchmarks’ indices in financial products originated, marketed or traded in Europe once EU BMR comes into full effect on January 1,  2020.  The BMR affects banks, brokerages, exchanges, asset managers and issuers of financial products that operate in Europe.

Sui Chung, CEO of CF Benchmarks, said: "We are proud to be the first  regulated cryptocurrency index provider to meet the EU BMR’s stringent requirements.  The industry can now gain access to regulated, high  integrity benchmarks, which will spur innovation, furthering the adoption of digital assets in Europe and beyond.  Reliable and trusted benchmarks are critical to growing the cryptocurrency ecosystem as they  attract more individual and institutional investors  to the asset  class.”

CF Benchmarks’ FCA authorisation enables service providers to create regulated financial products referencing the firm’s cryptocurrency indices, in compliance with BMR.  This includes issuing, trading and  investing in products referencing indices; and using indices to define the asset allocation of a portfolio, measure fund performance and determine borrowing rates and contract settlement mechanisms.

CF Benchmarks administers and calculates the CME CF Cryptocurrency Pricing Products and the CF Cryptocurrency Index Family.  CF Benchmarks applies proven indexing techniques and methodologies to products unique to the cryptocurrency asset class.  This method produces a robust framework with anti-manipulation safeguards to ensure the quality, integrity and reliability of its indices.  To learn more about how professional investors use the CF Benchmarks indices to manage cryptocurrency assets, please visit www.cfbenchmarks.com. -Ends-

Contact:

[email protected] Tel: +44 7747 468486

[email protected] Tel: +44 20 7655 6085

About CF Benchmarks

CF Benchmarks (formerly known as Crypto Facilities Indices) is the leading cryptocurrency index provider, calculating and administering a suite of indices including the CME CF Bitcoin Reference Rate that powers a range of financial products such as the CME Group’s Bitcoin futures.  CF Benchmarks is a wholly owned subsidiary of Kraken, a constituent exchange contributing data to all CF Benchmarks indices.  CF Benchmarks Ltd is registered in England with registered number 11654816 and registered office at 25 Copthall Avenue, London EC2R 7BP, United  Kingdom.  CF Benchmarks is authorised and regulated by the UK Financial Conduct Authority as a registered Benchmark Administrator (FRN 847100) under the EU benchmark regulation (Regulation (EU) 2016/1011.  For more information, please visit www.cfbenchmarks.com

Notes to Editors CF Benchmarks offers the following market-leading cryptocurrency pricing products and indices:

CME CF Cryptocurrency Pricing Products

  • CME CF Bitcoin Reference Rate
  • CME CF Ether-Dollar Reference Rate
  • CME CF Bitcoin Real Time Index
  • CME CF Ether-Dollar Real Time Index

CF Cryptocurrency Index Family

  • CF Bitcoin Cash-Dollar Settlement Price
  • CF Litecoin-Dollar Settlement Price
  • CF Ripple-Dollar Settlement Price
  • CF Ripple-Bitcoin Settlement Price
  • CF Bitcoin Cash-Dollar Spot Rate
  • CF Litecoin-Dollar Spot Rate
  • CF Ripple-Dollar Spot Rate
  • CF Ripple-Bitcoin Spot Rate

The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell any of the underlying instruments cited including but not limited to cryptoassets, financial instruments or any instruments that reference any index provided by CF Benchmarks Ltd. This communication is not intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. Please contact your financial adviser or professional before making an investment decision.


Note: Some of the underlying instruments cited within this material may be restricted to certain customer categories in certain jurisdictions.


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CF Benchmarks Ltd (“CF Benchmarks”), a company registered in England and Wales with company number 11654816 and authorised and regulated by the Financial Conduct Authority. Information about us can be found on the Financial Services Register (register number 847100).

Registered Office: 6th Floor One London Wall, London, United Kingdom, EC2Y 5EB.

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CF Benchmarks is a member of the Crypto Facilities group of companies which is in turn a member of the Payward, Inc. group of companies.
  • Payward, Inc. is the owner and operator of the Kraken Exchange, a venue that facilitates the trading of cryptocurrencies. The Kraken Exchange is a source of input data for certain CF Benchmarks indices.
  • Payward, Inc. is the owner and operator of the Staked, a venue that operates the block production nodes for decentralized PoS protocols on behalf of institutional investors. Staked.us is a source of input data for certain CF Benchmarks indices.

Please refer to the individual product family documentation for more information about applicable input data sources.

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