ICE to Launch BTC Futures on Bakkt Platform in December
- The exchange operator has not immediately stated why the launch of the contracts has been delayed by one month.
Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), announced on Monday that it will list Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term futures on its platform, Bakkt, for trading on Wednesday, December 12, 2018, pending regulatory approval.
On Bakkt, which is a platform for trading, storing and spending digital assets, the Bakkt Bitcoin (USD) Daily Futures Contracts will be physically-settled and cleared by ICE Clear US.
According to the document released this Monday: “Each futures contract calls for delivery of one bitcoin held in the Bakkt Digital Asset Warehouse, and will trade in US dollar terms. One daily contract will be listed for trading each Exchange Business Day.”
Whilst there is already mainstream and established futures exchanges, including those run by Cboe Global Markets and CME Group, that already offer Bitcoin futures, they are cash-settled. This means that the actual cryptocurrency does not change hands.
This is where Bakkt is different, as it involves the transfer of the cryptocurrency instead of cash, providing direct access to the digital asset by putting the actual bitcoins in the customer’s account at the end of the trade.
Since the announcement of the launch of Bakkt back in August, which Finance Magnates reported on at the time, ICE has also stated that it will not support margin trading for its BTC contract. Reportedly, by not allowing for margin, Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term and cash settlement it will be able to better support market integrity.
ICE delays launch of Bakkt until December
When the platform was originally announced in August, ICE said that it would launch the first regulated, physically-delivered bitcoin futures contracts in November of this year. However, the statement released on Monday now states that these contracts will be launched in December, following regulatory approval from the Commodity Futures Trading Commission (CFTC).
The exchange operator did not immediately give a reason for the delay and could be the result of a number of factors.
Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), announced on Monday that it will list Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term futures on its platform, Bakkt, for trading on Wednesday, December 12, 2018, pending regulatory approval.
On Bakkt, which is a platform for trading, storing and spending digital assets, the Bakkt Bitcoin (USD) Daily Futures Contracts will be physically-settled and cleared by ICE Clear US.
According to the document released this Monday: “Each futures contract calls for delivery of one bitcoin held in the Bakkt Digital Asset Warehouse, and will trade in US dollar terms. One daily contract will be listed for trading each Exchange Business Day.”
Whilst there is already mainstream and established futures exchanges, including those run by Cboe Global Markets and CME Group, that already offer Bitcoin futures, they are cash-settled. This means that the actual cryptocurrency does not change hands.
This is where Bakkt is different, as it involves the transfer of the cryptocurrency instead of cash, providing direct access to the digital asset by putting the actual bitcoins in the customer’s account at the end of the trade.
Since the announcement of the launch of Bakkt back in August, which Finance Magnates reported on at the time, ICE has also stated that it will not support margin trading for its BTC contract. Reportedly, by not allowing for margin, Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term and cash settlement it will be able to better support market integrity.
ICE delays launch of Bakkt until December
When the platform was originally announced in August, ICE said that it would launch the first regulated, physically-delivered bitcoin futures contracts in November of this year. However, the statement released on Monday now states that these contracts will be launched in December, following regulatory approval from the Commodity Futures Trading Commission (CFTC).
The exchange operator did not immediately give a reason for the delay and could be the result of a number of factors.