Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), released a document on Oct 22, stating the launch date for Bitcoin (BTC) futures on its crypto trading platform, Bakkt.
Established earlier this year by the global exchange operator ICE, Bakkt will perform as a platform for trading, storing, and spending digital assets, while aiming to regularize the un-governed crypto markets and invite institutional investors into the ecosystem. As per the document the Bakkt Bitcoin (USD) Daily Futures Contracts will be listed for trading by the ICE on Dec. 12, 2018. The notice elaborates:
“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.”
In September, ICE announced its first bitcoin futures contracts versus fiat currencies such as U.S. dollars, pounds sterling, and euro. Bakkt has made is mighty clear that the platform will not support margin trading for its BTC contract. In doing so, the platform aims to support market integrity and enable the “trusted price formation”, which in turn will lead to “advancing the promise of digital currencies.”