Kaiko to Provide Reference Rates for Cboe Digital’s Futures Settlement.

November 28th, 2023

Working together to provide crypto futures in a regulated environment.

Kaiko is pleased to join forces with Cboe Digital to provide reference rates for settlement of margined Bitcoin (BTC) and Ether (ETH) futures contracts. Set to launch on January 11, 2024, this offering addresses the growing demand for regulated crypto investment products in U.S. markets.

Kaiko is the leading crypto data and indices provider, providing high-quality and compliant market information since 2014. Cboe Digital will be the first U.S.-regulated crypto native exchange and clearinghouse to enable both spot and leveraged derivatives trading on a single platform. Cboe Digital is intermediary-inclusive, strives to ensure separation of duties to help avoid conflicts of interest and uses an integrated exchange and clearinghouse model that will allow it to potentially bring more unique and groundbreaking offerings to the crypto markets in 2024.

This cooperation helps enable institutional investors to confidently gain exposure to crypto assets via a trusted and regulated derivative offering.

The contracts provide exposure to BTC and ETH and are settled in U.S. dollars against the Cboe Kaiko Rates, the Cboe Kaiko Bitcoin Rate (“CKBR”), and the Cboe Kaiko Ether Rate (“CKER”), which are developed and administered by Kaiko Indices, Kaiko’s regulated indices and benchmarks division.

Kaiko’s rates are designed to provide a representative and broad reflection of crypto markets. The Cboe Kaiko Rates are comprised of broad exchange constituents with competitive levels of volume and liquidity.

Kaiko’s rates help promote the integrity of the settlement price and its methodology is designed to discourage manipulative conduct and pricing aberrations.

Cboe Digital’s unified spot and derivatives trading platform will enable customers to easily access both markets, creating opportunities for additional capital and operational efficiencies. Kaiko is pleased to support this initiative and work towards building more efficient digital asset markets, powered by clean and reliable data.

For a full description of the products, view Cboe Digital’s CFTC filing here.

CBOE Kaiko Rates

About Kaiko Indices

Kaiko Indices, authorized and regulated by the French AMF as a benchmark administrator under EU BMR, offers a suite of trusted and compliant pricing and benchmarking services for digital assets. Our extensive expertise and experience in both digital assets markets and traditional indices, in conjunction with our high-quality data and infrastructure, and best index industry practice, allows us to design, administer, and disseminate the most refined indices.

• Expert Administration: Quarterly rebalancing and reviews to adapt for market changes, developed by industry experts.
• Rigorous Exchange Vetting: Strict vetting of data sources to include only the most trusted and liquid exchanges, with all data collected in-house.
• Rules-Based and Independent: Robust methodologies designed to prevent outliers and minimize the impact of any one market deviating in price from the rest of the constituent markets.
• Custom Services: We build custom rates and indices for our enterprise clients, designed for a range of financial products.

Our mission is to help financial institutions make informed decisions about their products and services by providing high-quality, regulatory-compliant benchmark rates and indices. Contact us to get started today.