pcloudy.png
Thursday July 16th, 2020 12:04PM

Intercontinental Exchange Announces First Block Trade of Bakkt Bitcoin Futures

By The Associated Press

ATLANTA & NEW YORK--(BUSINESS WIRE)--Oct 4, 2019--

Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today announced the execution of the first block trade of Bakkt Bitcoin Futures submitted to ICE Futures U.S.

“Since launching last week, the Bakkt Bitcoin Futures have achieved several milestones, including first physical delivery of bitcoin against a futures contract, and now the first block trade,” said Trabue Bland, President of ICE Futures U.S. “Each of these achievements, on top of tight bid/offer spreads and a growing base of participants and clearing firms, are contributing to the first end-to-end regulated futures contract from price discovery to custody and physical delivery.”

On Tuesday, October 1, the first Bakkt Bitcoin Futures block trade was executed between Galaxy Digital and XBTO, and was cleared by ED&F Man. A block trade is a privately negotiated trade with a certain minimum size threshold, which is submitted to the Exchange and cleared through ICE Clear US.

“Galaxy Digital Trading views futures as a critical institutional market tool for managing risk,” said Galaxy Digital. “As the digital asset class continues to mature, we view the launch of Bakkt as a foundational piece of market infrastructure.”

XBTO stated: “Last week, we bought the first Bakkt Bitcoin Daily Futures contract and took the first physical delivery of a digital asset under existing commodity futures laws and regulations. This week, we executed the first block trade. We’re pleased to report that the launch was successful and can accommodate large trades.”

(NYSE: ICE) is a Fortune 500 company formed in the year 2000 to modernize markets. ICE serves customers by operating the , and information services they rely upon to invest, trade and manage risk across global financial and commodity markets. A leader in market data, serves the information and connectivity needs across virtually all asset classes. As the parent company of the , the company is the premier venue for raising capital in the world, driving economic growth and transforming markets.

Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located at . Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2018, as filed with the SEC on February 7, 2019.

ICE-CORP

View source version on businesswire.com:

CONTACT: ICE Media Contact:

Damon Leavell

Damon.Leavell@theice.com

212-323-8587

ICE Investor Contact:

Warren Gardiner

Warren.Gardiner@theice.com

770-835-0114

KEYWORD: NEW YORK GEORGIA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: FINANCE PROFESSIONAL SERVICES DATA MANAGEMENT TECHNOLOGY

SOURCE: Intercontinental Exchange

Copyright Business Wire 2019.

PUB: 10/04/2019 09:15 AM/DISC: 10/04/2019 09:15 AM

http://www.businesswire.com/news/home/20191004005274/en

  • Associated Categories: Associated Press (AP), AP Business, AP Business - Corporate News, AP Online - Georgia News, AP Business Wire - Georgia, AP Business - Financial Markets, AP Business - Industries, AP Business - Financial Services
© Copyright 2020 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Investigators focus on rogue vape brand as illness spreads
Illegal vape cartridges that go by the name “Dank” are figuring prominently in the federal investigation into what has caused a rash of mysterious and sometimes fatal lung illnesses apparently linked to vaping
9:29AM ( 20 minutes ago )
Thousands protest mask ban as HK leader toughens stance
Defiant masked protesters streamed into Hong Kong streets after the city’s embattled leader invoked rarely used emergency powers to ban masks at rallies in a hardening of the government’s stance after four months of anti-government demonstrations
9:20AM ( 29 minutes ago )
US adds modest 136,000 jobs, lowering unemployment to 3.5%
US added a modest 136,000 jobs in September as unemployment hits new 50-year low of 3.5%
9:15AM ( 34 minutes ago )
Associated Press (AP)
US adds 136,000 jobs; unemployment hits 50-year low of 3.5%
US added a modest 136,000 jobs in September as unemployment hits new 50-year low of 3.5%
8:38AM ( 1 hour ago )
US trade deficit widened in August to $54.9 billion
US trade deficit widened in to $54.9 billion in August, though gap with China narrowed
8:33AM ( 1 hour ago )
Global markets mixed as investors eye US jobs data
World shares are mixed as investors turn their attention to the September U.S. jobs report after a series of gloomy economic news this week
7:39AM ( 2 hours ago )
AP Business
BP CEO Dudley, who managed wake of Gulf oil spill, to retire
Oil company BP says 49-year-old Bernard Looney will take over as CEO as Bob Dudley, who oversaw the firm’s recovery from the Gulf oil spill, retires early next year
5:13AM ( 4 hours ago )
Samsung ends smartphone phone production in China
Samsung Electronics says it has ended the production of smartphones in its last factory in China
4:30AM ( 5 hours ago )
Western utility to quicken move away from coal-fired power
A major Western U.S. utility is speeding up plans to use less coal-fired power over the next decade
5:59PM ( 15 hours ago )
AP Business - Corporate News
21 Savage: Young undocumented immigrants should be ‘exempt’
Rapper 21 Savage says undocumented immigrants who lived in America as children should automatically become U.S. citizens
4:58AM ( 4 hours ago )
Chipper Jones throws out 1st pitch, catches foul ball
Chipper Jones has big game at NL Division Series, throwing out first pitch and catching foul ball
1:06AM ( 8 hours ago )
Braves teammates bemoan Acuña’s lack of hustle in NLDS loss
Teammates say Acuna’s lack of hustle on long fly ball was mistake that can’t happen in Braves’ NLDS loss to Cardinals
10:52PM ( 10 hours ago )
AP Online - Georgia News
AP Business Wire - Georgia
Global markets rise on hopes for US rate cut
Global stock markets follow Wall Street higher on hopes for U.S. rate cut
5:08AM ( 4 hours ago )
Asia stocks mixed after Wall Street rebound
Asian stocks mixed after Wall Street rebounds on hopes for U.S. rate cut
1:14AM ( 8 hours ago )
Deadly protests squeeze Haitians in shrinking economy
Deadly protests that have shuttered public schools and businesses in Haiti’s capital and nearby communities have left the country’s economy sputtering amid ballooning inflation as the opposition demands the resignation of President Jovenel Moïse
11:54PM ( 9 hours ago )
AP Business - Financial Markets
India's central bank cuts interest rate, downgrades outlook
India cuts key interest rate, lowers economic growth forecast
5:03AM ( 4 hours ago )
Illegal vape name draws scrutiny as illness spreads
A shadowy but widely sold illegal marijuana vape is drawing the attention of investigators looking into a rash of mysterious lung illnesses around the country
1:08AM ( 8 hours ago )
US-Europe dispute threatens main artery of world trade
The European Union has warned it will retaliate against the U.S. decision to slap tariffs on a range of the bloc’s exports, from cheese to wine
11:52PM ( 9 hours ago )
AP Business - Industries
US manufacturing sinks to decade-low, stoking economic fear
US manufacturing activity sank in September to lowest level since Great Recession
3:11PM ( 2 days ago )
A slump in US manufacturing knocks stock market lower
A surprise contraction in US manufacturing last month knocked the stock market lower, erasing an early rally.
2:53PM ( 2 days ago )
Eurozone inflation drops, underlining case for stimulus
Inflation in the 19-country eurozone weakened in September, underlining European Central Bank President Mario Draghi's arguments for a recent stimulus package
5:56AM ( 3 days ago )
AP Business - Financial Services
Investigators focus on rogue vape brand as illness spreads
Illegal vape cartridges that go by the name “Dank” are figuring prominently in the federal investigation into what has caused a rash of mysterious and sometimes fatal lung illnesses apparently linked to vaping
9:29AM ( 21 minutes ago )
Thousands protest mask ban as HK leader toughens stance
Defiant masked protesters streamed into Hong Kong streets after the city’s embattled leader invoked rarely used emergency powers to ban masks at rallies in a hardening of the government’s stance after four months of anti-government demonstrations
9:20AM ( 30 minutes ago )
US adds modest 136,000 jobs, lowering unemployment to 3.5%
US added a modest 136,000 jobs in September as unemployment hits new 50-year low of 3.5%
9:15AM ( 34 minutes ago )
Diversity of jury seen as key factor in officer’s conviction
Diverse jury seen as key factor in conviction of Dallas officer who fatally shot black neighbor
9:15AM ( 35 minutes ago )
Steyer endorsed for president by influential SC lawmaker
Democratic presidential candidate Tom Steyer has picked up the endorsement of a key lawmaker in early-voting South Carolina
9:14AM ( 36 minutes ago )