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NYSE‘s Brethren Bakkt Delays it Bitcoin Futures Launch to Jan 2019

Abstract : The latest notice means that Bakkt has postponed the official launch of its Bitcoin futures by about one month.

Chaindder
Chaindder

Nov 21

November 21 (ChainDD) The Intercontinental Exchange (ICE)’s digital assets trading platform Bakkt will list the Bakkt Bitcoin (USD) Daily Futures Contract for trading on January 19, 2019, according to a November 19’s notice of ICE, the parent of New York Stock Exchange (NYSE).

ChainDD noted the latest notice means that Bakkt has postponed the official launch of its Bitcoin futures by about one month, since it announced the original launch date was December 12th 2018 , pending regulatory approval. And the recent schedule is also subject to regulatory approval, for Bakkt has not received any decision from the regulator yet.

Bakkt explained that the new listing timeframe will provide additional time for customer and clearing member onboarding prior to the start of trading and warehousing of the new contract. Bakkt’s CEO Kelly Loeffer said that product launches require new processes, risks and mitigants to test and re-test, and in the case of crypto, a new asset class to which these resources are being applied.

According to ChainDD’s previous brief news, Bakkt was created by ICE, BCG, Microsoft, Starbucks and other companies. It will launch the first physically settled Bitcoin future that settled by Bitcoin itself. The current Bitcoin future contracts traded on two leading futures exchanges CME Group and Cboe are all cash settled.

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