ICE Launches Bakkt Bitcoin Monthly Futures11.22.2019
Intercontinental Exchange, Inc. a leading operator of global exchanges and clearing houses and provider of data and listings services, today announced the launch of the Bakkt™ Bitcoin (USD) Cash Settled Monthly Futures contract. The new contract will be listed on ICE Futures Singapore and cleared by ICE Clear Singapore, which are regulated by the Monetary Authority of Singapore.
On December 9, the @Bakkt Bitcoin (USD) Cash Settled Monthly Futures contract will launch at ICE Futures Singapore.
— ICE (@ICE_Markets) November 22, 2019
Bakkt Bitcoin Cash Settled Monthly Futures will be settled against data from the physically delivered Bakkt Bitcoin (USD) Monthly Futures contract, the first fully regulated futures market for digital assets.
“Our new cash settled futures contract will offer investors in Asia and around the world a convenient, capital efficient way to gain or hedge exposure in bitcoin markets,” said Lucas Schmeddes, President & COO of ICE Futures and Clear Singapore. “Building off the success of our deliverable futures contract, the cash settled futures will leverage ICE’s regulated, globally-accessible market to offer a safe, secure and compliant environment for the trading of bitcoin.”
Details of the contract specifications and proposed rule changes can be found at ICE Singapore’s website (futures circulars; clearing circulars). Parties are invited to submit their comments on the proposed rule changes by November 29, 2019.
Following the close of consultation and obtaining of relevant approvals for the rule changes, ICE Futures Singapore plans to list the contract on December 9, 2019.
Challenges for the buy side include finding the right ESG specialist and finding robust ESG data.
Exchange groups are strengthening digital and network-related businesses.
Retail accounts for half of the trading volume at Taiwan Futures Exchange.
Phase 5 of the uncleared margin rules (UMR) took effect from September 2021.
The unit is part of the exchange's new LSEG Labs network.