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ICE Futures Singapore to update its bitcoin futures contract

ICE Futures Singapore (IFSG) will be updating its bitcoin futures contract in October 2023. The updated contract – known as ICE CoinDesk Bitcoin Futures – will be the first futures contract to be settled against CoinDesk’s Bitcoin Price Index which provides a reference rate for the spot price of bitcoin.

CoinDesk was launched a decade ago and has built a family of digital asset indices under subsidiary CoinDesk Indices, the leading provider of digital asset indices by AUM since 2014.

The contract will be available to trade from 0830 to 0600 Singapore time, aligning with the trading hours of IFSG’s Mini FX Futures. Importantly, the contracts are cleared and settled via a central clearing mechanism at ICE Clear Singapore, an approved clearing house regulated by the MAS, minimizing counterparty risk and replicating ICE’s existing futures clearing process.

With no membership or market data fees, IFSG leverages the global connectivity tools of ICE to enable a local customer base to manage risk and drive growth across asset classes.

Interested in diversifying your portfolio? Email: [email protected].

Note: ICE Futures Singapore does not market the CoinDesk Bitcoin Futures to retail persons resident in Singapore. Futures contracts based on bitcoin may pose specific risks. Such risks may arise from greater volatility in prices resulting from a range of factors. Those risks could in turn affect financial outcomes associated with maintaining required margins or any losses at final contract settlement.