CME CF Introduces New York Reference Rate for Polkadot

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AI Summary

CME CF's New York Reference Rate for Polkadot offers a standardized pricing benchmark, enhancing transparency and reliability in the cryptocurrency market.

According to Odaily, CME CF has launched the New York Reference Rate for Polkadot (DOTUSD_NY Reference Rate), which calculates a standardized price daily during the Eastern U.S. market hours from 3 PM to 4 PM. This initiative aims to provide traders, institutions, and analysts with a transparent and standardized pricing reference for DOT.
Currently, the CME CF New York Reference Rate encompasses six cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Chainlink (LINK), Polygon (POL), and Polkadot (DOT). This development is part of a broader effort to enhance the transparency and reliability of cryptocurrency pricing, offering a consistent benchmark for market participants. By standardizing the pricing during a specific time frame, CME CF seeks to facilitate more informed trading decisions and analysis in the rapidly evolving digital asset market.

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