NYSE Parent Company Announces Launch Date for Bitcoin Futures on Bakkt Platform

NYSE Parent Company Announces Launch Date for Bitcoin Futures on Bakkt Platform

Latest News For Bitcoin: NYSE Reveals Launch Date for Bitcoin Futures on Bakkt Platform

NYSE Parent Company Announces Launch Date for Bitcoin Futures on Bakkt Platform

The world’s largest derivatives market operator Intercontinental Exchange (ICE), which owns the New York Stock Exchange, announced that it plans to launch Bitcoin futures on its Bakkt trading platform on December 12, 2018..

The company announced its intention to provide traders with tools related to cryptocurrency back in May, when it began to develop the service. The Bakkt platform will allow traders to trade daily Bitcoin futures equivalent to one coin. Digital assets will be stored in a dedicated service and secured «physical» BTC. Initially, contracts will be traded against USD, GBP, EUR.

Earlier, ICE representatives said that the platform will not provide for the possibility of margin trading. According to them, the abandonment of leverage should help make the market more fair and the pricing trustworthy, which will improve the long-term prospects for the promotion of virtual currency..

In December 2017, the CME and CBOE exchanges launched their own bitcoin futures contracts, which led to a rapid increase in virtual currency rates, followed by a protracted decline. Experts say that this pattern of market behavior is not accidental. It is typical for all underlying assets during the periods when new futures are launched. In fact, this means that in December we can expect a certain repetition of last year’s dynamics.

NYSE Parent Company Announces Launch Date for Bitcoin Futures on Bakkt Platform

Another global giant, Visa, is also introducing blockchain technology into its services. In Q1 2019, the company will integrate the open source Hyperledger Fabric into its B2B Connect enterprise payments platform..

text: Ivan Malichenko, photo: financialtribune, buongiorno.ilsole24ore