Bakkt Reaches Singapore with Cash-Settled BTC Futures

Intercontinental Exchange (ICE) on Thursday announced the upcoming listing of Bakkt’s cash-settled 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 contracts on ICE Futures Singapore.

The contracts will be settled in US dollars and cleared by ICE Clear Singapore. Both ICE Futures Singapore and ICE Clear Singapore are regulated by the Monetary Authority of Singapore (MAS).

Commenting on the development, Lucas Schmeddes, president and COO of ICE Futures and Clear Singapore, said: “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.”

The cash-settled contracts will be settled against data from the physically delivered Bakkt Bitcoin (USD) Monthly Futures contract.

“Building off the success of our deliverable futures contract, the cash-settled futures will 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 ICE’s regulated, globally-accessible market to offer a safe, secure and compliant environment for the trading of bitcoin,” Schmeddes added.

The contracts will be listed on the platform on December 9.

The rising market of crypto derivatives

The ICE subsidiary launched its much anticipated physically-settled Bitcoin futures in September after getting a green light from the Commodity Futures Trading Commission (CFTC) in the United States.

Though the instruments had a rough start, its demand ballooned suddenly late last month.

Most people in #bitcoin think #bakkt is not physical #bitcoin.

No Real ability to get physical #bitcoin. Cash Settled contracts in Singapore. BAU for WALL STREET! Say one thing do another. What is the truth here. https://t.co/RTKRZF7CS9 — BitcoinTina☣️- "TINA" (There is no Alternative) (@BitcoinTina) November 21, 2019

With the rising demand for crypto derivative products, Bakkt is also set to bring Bitcoin options on the market this month. Its direct competitor in the US market, CME Group, is also planning to bring Bitcoin options in January next year.