Bakkt the company plans to start trading futures contracts on Bitcoin on the stock exchange ICE December 12. Bakkt is the market leader for cryptocurrency institutional investment, therefore, many experts believe that the launch of futures from Bakkt a positive impact on the decision of the Commission on securities and exchange Commission (SEC) of the United States in respect of applications for opening a Bitcoin exchange-traded funds (ETFs).
Firm Bakkt will trade commodity futures contracts in Bitcoin, under the contract, the coins will be stored in a cryptocurrency wallet exchange ICE. Clearing futures will deal with the American company Ice Clear US, the contract amount will be 1 BTC, while the futures price does not limited.
Bakkt the company is a subsidiary of the exchange ICE, which also owns the new York stock exchange. Now Bakkt provides companies with services for the storage of cryptocurrency. According to the chief Executive officer Bakkt Jeffrey Sprecher, activity is aimed primarily at creating the infrastructure for reliable cryptocurrency market, which guarantees the protection of consumer rights and complies with legislation.
Of exchange CBOE and CME trading design futures, which imply the settlement of the parties to the transaction upon expiration of the contract. Bakkt, by contrast, plans to launch the deliverable futures that require physical delivery of coins purchased under the contract. Therefore, the Bitcoin futures on the ICE exchange will be pre-paid, that is, the cryptocurrency will be held in the escrow account of the company until the conclusion of the contract.