Copy link
Increase text size
Decrease text size
Link copied

Bakkt commences user acceptance testing for its bitcoin futures

Image Credit: Bakkt Twitter

Tue, 23 Jul 2019, 06:50 am UTC

Bakkt, a subsidiary of New York Stock Exchange (NYSE) parent company Intercontinental Exchange (ICE), has started testing the delivery of BTC futures.

As per its official tweet, user acceptance testing for bitcoin daily and monthly futures began on Monday. As previously reported, daily settlement bitcoin futures allow clients to transact in a same-day market, whereas monthly bitcoin future contracts enable trading in the front month and across the forward pricing curve.

According to the ICE Futures U.S. filing with the CFTC, the contracts will be physically settled, which means “that the selling Clearing member would be required at settlement to deliver to the buying Clearing Member a specified quantity of Bitcoin.” Prices for both future contracts will depend on internal pricing discovery.

In addition, the final settlement of both contracts will be done at the Bakkt warehouse. The Bitcoin Magazine noted this is the first of its kind in the regulated bitcoin market as futures from Chicago Mercantile Exchange (CME) and Chicago Board Options Exchange (CBOE) are settled in cash.

The most-awaited release of Bakkt’s futures was first announced by COO Adam White in a tweet, saying “On July 22, two days after Apollo 11’s 50th anniversary, Bakkt will initiate user acceptance testing for its Bitcoin futures listed and traded at ICE Futures U.S. and cleared at ICE Clear US.”

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $8,885.73 (+2.38%)
  • Ethereum (ETH) $170.88 (+4.71%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $358.68 (+10.25%)
  • Bitcoin SV (BSV) $295.37 (-5.83%)
  • Bitcoin (BTC) $8,885.73 (+2.38%)
Jan 17, 2020 (Friday)
13:42
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
13:42
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:50
Crypto dealer SFOX announces new service for investors and wealth managers
11:10
Binance in talks with TaoTao and Z Corporation for strategic partnerships in Japan
10:09
Crypto Technicals: NEO/USD set to scale new highs, 200-DMA breakout confirms bullish trend
10:08
Crypto exchange Gemini launches own insurance company "Nakamoto"
09:29
eToro, Radar and OKCoin join Coinbase-led Crypto Rating Council
08:55
Huobi joins Blockchain Turkey Platform (BCTR)
08:21
U.S. authorities urged to investigate crypto use in funding domestic terrorism and extremism
07:38
Calibra, Anchorage, Bison Trails executives elected to Libra’s new technical steering committee
07:01
Crypto Technicals: LTC/USD bounces off 5-DMA support, eyes next major hurdle at 200-DMA (65.43)
07:01
U.S. lawmakers seek tax exemption for crypto transactions under $200
06:19
Former CFTC Chair launches Digital Dollar Project in partnership with Accenture
05:56
Crypto Technicals: ETH/USD resumes upside after brief pause, eyes 23.6% Fib at 174.83
04:46
Uzbekistan to launch national mining pool and licensed cryptocurrency exchange
04:27
Crypto Technicals: BTC/USD extends sideways below 200-DMA, bias bullish
04:21
Garanti BBVA conducts real-time blockchain transfers using Takasbank's BiGA Platform
Jan 16, 2020 (Thursday)
13:51
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
13:51
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
12:21
Litecoin Foundation, BlockFi partner to bring more liquidity to users
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft