A document released on October 22 revealed the parent company of the New York Stock Exchange (NYSE), named Intercontinental Exchange (ICE), announced the official launch date for Bitcoin (BTC) futures on its platform Bakkt.  The platform is responsible for trading, storing, and spending digital assets that were established earlier this year by global exchange operator ICE.

According to the document, ICE will list Bakkt Bitcoin (USD) Daily Futures Contracts for trading on Dec. 12, 2018. ICE Clear U.S., Inc. will physically-settle and clear the products, while the notice further explains: Each futures contract calls for delivery of one bitcoin held in the Bakkt Digital Asset Warehouse, and will trade in U.S. dollar terms. One daily contract will be listed for trading each Exchange Business Day.”

The current announcement is backed by a prior statement from September as well, saying the company’s “first contracts will be physically delivered BTC futures contracts versus fiat currencies” against U.S. dollars, pounds and euros. CoinTelegraph reports Bakkt will not support margin trading for its contract, however, by refraining from enabling for margin, leverage and cash settlement, it will better support market integrity and allow the “trusted price formation” that the company says is the key to “advancing the promise of digital currencies.”

The Chicago Mercantile Exchange (CME) and the Chicago Board Operations Exchange (CBOE) launched Bitcoin futures in December of last year. Later during this past summer, the Federal Reserve Bank of San Francisco wrote an Economic Letter stating that “the rapid run-up and subsequent fall in the price after the introduction of futures does not appear to be a coincidence” and “it is consistent with trading behavior that typically accompanies the introduction of futures markets for an asset.”

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