According to the recent news, Intercontinental Exchange (ICE); the parent company of New York Stock Exchange (NYSE) has announced the launch date for Bitcoin Futures on its platform Bakkt.
NYSE, the world’s largest stock exchange, has a wide range of stock listed, including American depositary receipts, investment trust, foreign listing etc.
With an aim to establish Trust and Utility to Digital Assets, Bakkt was launched earlier last year for trading, storing, and spending digital assets.
Talking on the futures, ICE Chairman & CEO Jeff Sprecher tweeted on October 17, 2018: “We are working to play a central role in helping the digital asset market move to a more regulated environment.”
“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,” he said.
Taking a major leap towards the Future bitcoin, ICE will list Bakkt Bitcoin (USD) Daily Futures Contracts for trading on December 12, 2018. The product will also follow the guideline as per ICE Clear U.S., Inc.
ICE driving the economic growth and transforming the capital market
One of the Fortune 500 companies, ICE, handles 12 regulated exchanges in the marketplace. It is the holding company of NYSE which helps companies raise more capital.
The online platform “Bakkt” created by ICE has been able to gain the trust of major companies like Microsoft and Starbucks.
The Chicago Mercantile Exchange (CME) and the Chicago Board Operations Exchange (CBOE) had also launched Bitcoin Futures in December, last year.
“To retain the stability of the digital currency, Futures are an agreement to buy or sell an asset on a specific future date at a specific price despite the current market price. It will help to boost the financial market,” sources said.
Earlier this year, Bakkt platform was launched to deliver the real bitcoin keeping the future in mind.