Crypto.com Exchange, the institutional arm of Crypto.com, has been added to CF Benchmarks bitcoin and ether reference rates, the benchmark and index provider said on Thursday. Based in the UK and regulated by the Financial Conduct Authority, CF Benchmarks has a range of different benchmarks and real-time indices for cryptocurrency products.

“We have invested heavily over the past two years in making the Crypto.com Exchange the best possible crypto platform for institutional and advanced users,” said Giuseppe Giuliani, Senior Managing Director, Global Head of Exchange of Crypto.com.

“CF Benchmarks is the industry’s most respected and utilised index, and having the Crypto.com Exchange included as a CME CF Constituent Exchange is a natural consequence of the hard work we have put into our offering and a statement to our leadership role in crypto institutional trading.”

Crypto.com’s pricing will be used for the CME CF Bitcoin-Dollar Indices, CME CF Ether-Dollar Indices and CME CF Ether-Bitcoin Ratio benchmarks.

The addition of the exchange means that, according to CF Benchmarks, the transaction data it uses to price its BTC/USD products is now derived from venues that represent 98% of global volume in the pair. The equivalent figure for ethereum is 92%.

There are now 8 exchanges pricing into the benchmark producer.

“The past 12 months has seen explosive growth in crypto financial products, highlighted by the launch of spot bitcoin ETFs: one of the most successful debuts in US capital markets history,” said Sui Chung, CEO of CF Benchmarks.

“As the crypto market continues to evolve and new financial products emerge, integrating Crypto.com Exchange as our eighth CME CF Constituent Exchange enhances the accuracy and resilience of our benchmarks, ensuring they continue as the trusted standard for investors.”