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ICE Bitcoin Futures Trading To Launch on Bakkt Platform

Kristina Frunze | Oct. 23, 2018
ICE Bitcoin Futures Trading To Launch on Bakkt Platform

ICE Bitcoin futures trading is less than a month away. According to the document released by the company on October 22, ICE will list Bakkt Bitcoin (USD) Daily Futures Contracts for trading on December 12, 2018. 

23 October, 2018 – The parent company of the New York Stock Exchange (NYSE), Intercontinental Exchange (ICE), has announced the launch date of Bitcoin futures on its platform Bakkt.

Bakkt Bitcoin futures trading

According to the document released by the company on October 22, ICE will list Bakkt Bitcoin (USD) Daily Futures Contracts for trading on December 12, 2018. ICE Clear US Inc will physically settle and clear the product. The notice from the company states:

“Each 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.”

Bakkt is a platform for trading, storing, and spending digital assets. It was launched earlier this year by the global exchange operator ICE.

The announcement from the company is supported by a previous statement in September. That time, the company stated that its “first contracts will be physically delivered BTC futures contracts versus fiat currencies” against US dollars, pounds sterling, and euro.

No Margin Trading for Bakkt BTC Futures

Bakkt will not support margin trading for its BTC contracts. The platform will reportedly be able to offer a better support for market integrity and allow the “trusted price formation.” Bakkt says that this is the key to “advancing the promise of digital currencies.” It plans to become a better exchange by eliminating the margin, leverage and cash settlement.

In December 2017, the Chicago Mercantile Exchange (CME) and the Chicago Board Operations Exchange (CBOE) launched Bitcoin futures. The Federal bank of San Francisco wrote an Economic Letter earlier this summer, where it stated that “the rapid run-up and subsequent fall in the price after the introduction of futures does not appear to be a coincidence” and “it is consistent with trading behavior that typically accompanies the introduction of futures markets for an asset."

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