Bakkt: new Bitcoin futures contracts launched
Bakkt: new Bitcoin futures contracts launched
Bitcoin

Bakkt: new Bitcoin futures contracts launched

By Marco Cavicchioli - 9 Dec 2019

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Today Bakkt officially announced the launch of new futures contracts on the Singapore Stock Exchange. 

The announcement had already been made a couple of weeks ago and today the official launch took place.

The goal is to expand the Bakkt suite of products, starting with the Bakkt Bitcoin (USD) Monthly Futures physically delivered, and tradeable on the New York Stock Exchange, used as a reference point to develop new complementary products. 

Bakkt reveals that the bitcoin futures continue to set new trading volume records and have thus decided to launch two new products based on the contract of reference. 

The first is the Bakkt Bitcoin (USD) Monthly Options, the first regulated CFTC options on bitcoin futures contracts. This new contract is based on the Bakkt Bitcoin (USD) Monthly Futures and is settled two days before the expiry of the underlying. 

The prices of futures contracts are traded entirely within a federally regulated market, without exposure to unregulated bitcoin spot markets.

These options offer opportunities for hedging, trading and speculation. 

The second is the new bitcoin futures contract on the Singapore Stock Exchange, the Bakkt Bitcoin (USD) Cash Settled Futures

The Singapore Stock Exchange is owned by the ICE, which also owns both Bakkt and the New York Stock Exchange, and in fact, the new contracts take advantage of the settlement price of the monthly benchmark of the original contracts, namely the Bakkt Bitcoin (USD) Monthly Futures. 

The new Cash Settled Futures offer an alternative for those who are not able to negotiate contracts physically delivered in bitcoin.

The company also points out that in the future it may launch other products related to bitcoin or other cryptocurrencies, although to date there is still no information available. 

 

Marco Cavicchioli
Marco Cavicchioli

Class 1975, Marco teaches web-technologies and is an online writer specializing in cryptocurrencies. He founded ilBitcoin.news, and his YouTube channel has more than 25 thousand subscribers.

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