CME Group Looks Into Litecoin - Launches Real-Time Index (LTCUSD_RTI)

The Chicago Merchantile Exchange Group (CME Group) along with CF Benchmarks today launched $LTCUSD_RTI today. The move was announced back on April 7, 2022 in a press release. According to Tim McCourt, CME Group Global Head of Equity and FX Products,

As the digital asset market continues to expand, there is an increasing demand for reliable, standardized cryptocurrency pricing information based on robust, regulated reference rates.

These new benchmarks, which capture over 90% of the total investible cryptocurrency market cap today, are designed to allow traders, institutions and other users to confidently and more accurately manage cryptocurrency price risk, price portfolios or create structured products like ETFs.

In addition to Litecoin, CME Group also listed Indicies and Reference Rates for Algorand (ALGO), Cosmos (ATOM), Sol-"can't keep it up"-ana (SOL), BCash (BCH), Stellar (XLM), Cardano (ADA), Polkadot (DOT), Chainlink (LINK), Polygon (MATIC), and Uniswap (UNI).

The data is aggregated from several leading US based crypto exchanges including Kraken, Coinbase, Gemini, itBit and soon will include LMAX Digital later in May.

The transparency and robustness of the new CME CF Reference Rates enable a much broader range of products representing the diversity of crypto assets, said Joshua Lim, Head of Derivatives at Genesis Global Trading. We're excited to be a liquidity partner on the variety of instruments that will be built on top of them.

The new reference rates will be published once a day at 4 PM London time, while each index will publish every second, 24/7, 365 days a year.

The hope is that listing these rates and indices will help facilitate the acceleration of professional and institutional crypto trading and adoption.

The news was also announced by the @Litecoin twitter acccount