The ICE Futures Singapore has partnered with Coindesk Indices (CDI), a digital asset indices provider subsidiary of CoinDesk, to update its bitcoin futures contracts.
According to the press-release, ICE Futures Singapore’s bitcoin futures contracts will be now known as CoinDesk Bitcoin Futures contracts (BMC). The ICE Futures Singapore is a child company of global financial exchanges operator – Intercontinental exchange (ICE).
The partnership will help CoinDesk Indices to expand in the APAC region and enhance its credibility as a leading crypto indices provider.
“We are excited to expand our presence into the APAC region through this collaboration with ICE Futures Singapore,” says Andy Baehr, the Managing Director at CoinDesk Indices, adding “This move underscores CDI’s commitment to serving global markets and offering world-class solutions to marketplace participants.”
Starting from this October, the new Bitcoin Futures contract (BMC) will use CoinDesk Bitcoin Price Index (BXB) for monthly contract settlement, which provides a reliable spot market price of Bitcoin.
“Traded and cleared in Singapore in a regulated environment, we are pleased to offer our customers access to the first futures contract based on CoinDesk’s Bitcoin Price Index,” said Maria Levanti, ICE Futures Singapore’s President and COO.