Bakkt’s BTC Futures Exchange Product Launch Date Revealed
The new Cryptocurrency exchange network Bakkt, which is backed up by ICE, the parent organization of NYSE, just revealed its plans to release its highly anticipated BTC-based product designed for futures trade. The announcement was delivered by the official website of ICE, informing users that USD futures trading is planned to begin December 12, 2018. Contracts for the project should be resolved physically and also cleared through ICE Clear in the U.S.
A New Step Forward
This announcement comes right after it was revealed the previous month that this primary launch will feature both the British pound and the United States Dollar as pairs for trading; however, the final announcement talks about products in USD only.
Bakkt stated that their very first contracts are going to be physically deliverable BTC contracts of futures trades against traditional fiats like the U.S. dollar, the British pound and the Euro.
A total fee of $1 will be charged which includes both clearing/side and exchange fees. The minimum value of the price movement will stand at $2.5 per contract. Bakkt is not going to sanction margin trade within its new network; however, they have assured users that every Tx will be entirely collateralized.