Note from the CEO: We at FintekNews have been covering this since the CME launched the BRR last November and it absolutely awesome to see Forbes pick it up. Especially with Sandra. Like I have said many times over the years, never bet against the Merc. Super great read. We also ran an extended story on the CME yesterday with similar info.
"CME Group started more than a century ago in Chicago as a place where farmers could lock in prices for their crops. Today, its exchanges — CME, CBOT (Chicago Board of Trade), NYMEX (New York Mercantile Exchange) and COMEX (Chicago Mercantile Exchange) — cover every major asset class, such as metals and energy and U.S. Treasury bonds.
And now it’s making a foray into bitcoin. This past November, CME launched both a once-a-day bitcoin reference rate (BRR) and a bitcoin real-time index (BRTI) that updates every second.
And this coming year, it will launch a blockchain-based digital gold product, Royal Mint Gold, with The Royal Mint, a 1,000-year-old institution owned by Her Majesty’s Treasury in the United Kingdom.
Leading these efforts at CME is Sandra Ro, head of digitization initiatives. Ro, who came to CME five years ago, began her career managing foreign exchange and mergers and acquisition risks, and now directs FX research and product development for CME."
Read Full Story at Forbes