Reference Rates

PRODUCTS

CM Reference Rates

CM Reference Rates is a feed of USD price benchmarks for top crypto assets calculated hourly or in real-time (every second). Our rates serve as a transparent and independent pricing source for portfolio valuation and accounting, backtesting, or settling financial products. 

Overview Features Use Cases More CONTACT SALES

Why CM Reference Rates?

Valuing institutional portfolios or tracking real-time pricing should be done with independent, auditable sources. Historically, this has been difficult in the crypto industry. The most widely used sources lack transparency in price sources and methods. 

CM Reference Rates represent a feed of whole-market fixed pricings of one unit of an asset quoted in USD for 200+ assets. Our rates are produced at two different frequencies with slight differences in methodology. 

CM Hourly Reference Rates are produced hourly with human review applied at the New York Close Fixing Time of 4:00 PM EST. CM Real-Time Reference Rates are produced every second.

Our rates are constructed using robust methodology that adheres to  IOSCO Principles for Financial Benchmarks. Coin Metrics whitelists exchanges using a rigorous market selection framework that evaluates inclusion of each exchange and relevant trading pair. A calculation algorithm then aggregates trades to fix a price that represents the point where most of the trading activity took place. 

Useful Links

Hourly Reference Rates Methodology
Real-Time Reference Rates Methodology
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Features of CM Reference Rates

Comprehensive

  • Rates for 200+ of the top assets
  • Available hourly or second-by-second in real-time with full history

    • Easy access

  • Available through responsive REST and/or Websocket API
  • Flat file uploads also available

    • Rigorous construction

  • Adheres to best practices including the IOSCO Principles for Financial Benchmarks
  • Features human review of every New York (4 pm EST) close

    • Trusted methodology

  • Rate methodology is public and includes the list of whitelisted exchanges, selection criteria, and calculation methods all governed by an Oversight Committee

    • Use Cases


    Calculate precise net asset values (NAV) for accounting or tax purposes


    Settle structured financial products with reliable closing pricing


    Get real-time market visibility for higher frequency trading


    Backtest trading strategies using accurate pricings