CME Group (CME) and CF Benchmarks, a provider of cryptocurrency benchmark indices, plan to launch two new bitcoin volatility indices on December 2 – the CME CF Bitcoin Volatility Index – Real Time, or BVX, and the CME CF Bitcoin Volatility Index – Settlement, or BVXS. These indices represent forward-looking, market-based measures of how the market expects the price of bitcoin to fluctuate over a 30-day constant maturity time horizon. The indices are not tradable futures products, but are meant to serve as transparent indicators of the implied volatility embedded in CME Group’s regulated, deeply liquid options on Bitcoin futures and Micro Bitcoin futures contracts.
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