CM Reference Rates

CM Reference Rates represent a fixed USD price of one unit of a crypto asset calculated by aggregating trades across approved and vetted trading venues. Our rates serve as a transparent and independent pricing source that promote the functioning of efficient markets, reduce information asymmetries among market participants, and accelerate the adoption of crypto as an asset class with high standards.

CM Reference Rates are produced hourly, with human review and expert judgement applied for the New York Close Fixing Time at 4:00 PM EST.

They represent a fixed pricing of one unit of an asset quoted in U.S. dollars for 203 of the top assets.

CM Reference Rates provide market participants with unbiased and auditable USD prices for calculating precise net asset values (NAV) for portfolio accounting or valuation, or for backtest trading strategies or conducting other research.

Our methodology adheres to international best practices such as the IOSCO Principles for Financial Benchmarks and includes a quantitative market selection score, a robust time-weighted and volume-weighted calculation, and automated and human quality control checks.

Features of CM Reference Rates

Rates for the most in-demand assets

We produce reference rates for 203 of the top crypto assets.

Powerful API access

Available through responsive REST API in JSON or CSV formats or via CSV file.

Rigorous Construction

Adheres to international best practices, including the OICU-IOSCO Principles for Financial Benchmarks.

Transparent Methodology

CM publishes a regular report that includes the list of whitelisted exchanges for each rate, methods for selection, updates on selection, and rationale for changes.

CM Reference Rates For...

  • Calculating precise net asset values (NAV) for portfolio valuation and accounting using a transparent and independent pricing source
  • Backtesting trading strategies, models, and systems or conducting other research using accurate pricing