ICE Bitcoin Futures Slated for December Launch
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Atlanta-based Intercontinental Exchange (ICE) is planning to launch bitcoin futures on December 9 in Singapore, following regulator’s new papers permitting the trading of derivatives tracking certain cryptocurrencies.
The Bakkt bitcoin cash-settled monthly futures contract, denominated in U.S. dollars, will be settled against data from physically delivered Bakkt bitcoin monthly futures contract. The new contract will be listed on ICE Futures Singapore and cleared by ICE Clear Singapore.
«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 and chief operating officer of ICE Futures and Clear Singapore.
ICE Futures is the first of four exchanges approved by the Monetary Authority of Singapore to launch regulated futures contracts for payment tokens like bitcoin. This follows a recent MAS consultation paper green lighting crypto-linked derivatives driven in part by observed intuitional demand for a regulated product.
Questions & Answers
Q.When and where will ICE launch its bitcoin futures?
When and where will ICE launch its bitcoin futures?
Intercontinental Exchange (ICE) plans to launch bitcoin futures on December 9. The launch will take place in Singapore, facilitated by ICE Futures Singapore and cleared by ICE Clear Singapore.
Q.What type of bitcoin futures contract is ICE introducing?
What type of bitcoin futures contract is ICE introducing?
ICE is introducing a cash-settled monthly futures contract, denominated in U.S. Dollars. It will be settled against data from physically delivered Bakkt bitcoin monthly futures contracts.
Q.Why is ICE launching these new crypto-linked derivatives?
Why is ICE launching these new crypto-linked derivatives?
The launch follows regulatory permission from the Monetary Authority of Singapore for such derivatives. It is partly driven by observed institutional demand for a regulated product in bitcoin markets.
Q.Is ICE the only exchange approved to offer regulated bitcoin futures in Singapore?
Is ICE the only exchange approved to offer regulated bitcoin futures in Singapore?
No, ICE Futures is the first of four exchanges approved by the Monetary Authority of Singapore. These approvals allow for the launch of regulated futures contracts for payment tokens like bitcoin.