Bitcoin futures will be “listed on a federally-regulated exchange in the coming months”, according to the latest ICE Futures US filing with the CFTC.
It was previously reported that Bakkt’s Bitcoin futures launch would be delayed until Q4 of 2019, however the listing now seems to be ahead of schedule.
“In conjunction with our exchange and clearing partners at ICE, we’ll be working with our customers over the next several weeks to prepare for user acceptance testing (UAT) for futures and custody, which we expect to start in July,” Bakkt said in an official statement.
Two futures contracts will be listed. One will be based on a daily settlement Bitcoin future while the other will be a monthly Bitcoin futures contract.
Today, we’re pleased to update you on the launch of bitcoin futures contracts developed by Bakkt in collaboration with ICE Futures U.S. and ICE Clear U.S. https://t.co/8G3YcFbPl2
— Bakkt (@Bakkt) May 13, 2019
Bakkt will utilise tools to target “disruptive trading practices”. This means that “the settlement prices on ICE Futures US will be based on prices discovered in our physical delivery contracts without relying on unregulated cash markets”.
It has also been confirmed that Bakkt will contribute $35 million into the clearinghouse risk waterfall.
“We’ve worked closely with the CFTC to develop contracts that both meet our customers’ needs for trading, transparency, and market certainty, and are also compliant with Federal regulations,” the statement concluded.
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