NYSE owner Intercontinental Exchange announced December 12 as the listing date for the new Bakkt Bitcoin (USD) Daily Futures Contract for trading despite the pendency of regulatory approval.
The Bakkt Bitcoin (USD) Daily Futures Contract is a physically-settled daily futures contract for bitcoin held in ICE's Digital Asset Warehouse Bakkt LLC.
These contracts will be traded on ICE's electronic trading platform, regulated by the U.S. Commodity Futures Trading Commission (CFTC). All trades are cleared and guaranteed by ICE Clear US, the central counterparty for all ICE cleared forex futures trades.
Every individual futures contract calls for delivery of one bitcoin held in the Bakkt Digital Asset Warehouse, and will trade in U.S. dollar terms. One daily contract will be listed for trading each Exchange Business Day.
ICE had announced plans in August to launch a digital assets ecosystem through the new startup company called Bakkt. The company is leveraging Microsoft cloud solutions to create an open and regulated, global ecosystem for digital assets.
On the Bakkt platform consumers and institutions can buy, sell, store and spend digital assets on a global network. ICE had confirmed last month that the first product offering from its crypto platform Bakkt would be physical Bitcoin futures.
As part of the initial launch, ICE's U.S.-based futures exchange and clearing house had revealed plans to launch a one-day physically delivered Bitcoin contract along with physical warehousing in November 2018, subject to review and approval by the CFTC.
ICE is the operator of 23 regulated global exchanges and marketplaces, including the New York stock Exchange.
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