#CryptoCorner: CME Group (Nasdaq: $CME) Launching Options on BTC Contracts, HSBC (NYSE: $HSBC) Working with SGX and Temasek to Trial DLT in Asian Bond Markets
Point Roberts, WA, Delta BC November 13, 2019 - Investorideas.com, a leader in crypto and blockchain investing news brings you today’s edition of the Crypto Corner podcast and commentary on what’s driving the cryptocurrency market.
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Stocks discussed: (NYSE:ICE) (NasdaqGS:CME) (NYSE:HXBC) (ASX:DCC)
Bakkt, the crypto-focussed subsidiary of Intercontinental Exchange (NYSE:ICE), aims to offer cash-settled Bitcoin (BTC) futures by the end of the year, according to a report from CoinDesk. The announcement was made by Bakkt COO Adam White at a CoinDesk event in New York City on Tuesday. The CoinDesk report indicates that:
According to sources familiar with the plan, the new cash-settled monthly futures are to be offered through ICE Clear Singapore, the company’s Singapore-based clearinghouse, and traded on ICE Futures Singapore.
Derivatives exchange CME Group, Inc. (NasdaqGS:CME) yesterday announced that it will be launching options on its Bitcoin futures contracts for trading starting Jan. 13, 2020, pending regulatory review. Tim McCourt, CME Group Global Head of Equity Index and Alternative Investment Products, commented:
"Since the launch of our Bitcoin futures nearly two years ago, clients have expressed a growing interest in options as another way to hedge and trade in these markets. We have worked closely with clients and the industry to establish a robust and increasingly liquid underlying futures market here at CME Group, and we believe Bitcoin options will now offer our customers greater precision and flexibility to manage their risk."
The Business Times reports that multinational investment bank HSBC (NYSE:HSBC), along with the Singapore Exchange (SGX) and holding company Temasek, will hold a distributed ledger technology (DLT) trial focusing on Asia's bond markets. Leveraging tokenised securities and smart contracts, the DLT trial aims to bring efficiency to the bond issuance and servicing processes in the region. HSBC Singapore chief executive Tony Cripps, explained:
“The potential of DLT is an evolving story, and its role in overcoming inefficiencies in the fixed income market is yet to be seen. Only by collaborating with market participants will we fully understand its actual viability. By partnering with SGX and Temasek, we hope to explore whether digital assets could become a reality."
Australian blockchain firm DigitalX (ASX:DCC) is launching a Bitcoin Fund, according to an official news release today. The firm is seeding the fund “with 215 of its bitcoin”, with the aim of “qualifying investors to gain an exposure to bitcoin without the need for much of the administrative burden and risk associated with acquiring bitcoin”. The company’s executive director Leigh Travers explained:
“DigitalX has held its bitcoin position through the 2017 bull market and 2018 drawdown because of our fundamental long-term belief in the value of the asset. What has become more and more apparent to us as we speak to investors and market participants generally, is that there is a growing interest in accessing bitcoin from people who have traditionally not considered investment in digital assets.”
Sam Mowers, Investorideas
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