ICE Futures Singapore Announces Plans to Launch Bakkt Bitcoin

ICE Futures Singapore Announces Plans to Launch Bakkt Bitcoin

Intercontinental Exchange, Inc. (NYSE:ICE), 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.

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 circularsclearing circulars). Parties are invited to submit their comments on the proposed rule changes by November 29, 2019.

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