#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
#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
For
investors following the sector Investor Ideas has a comprehensive Bitcoin, Blockchain
and Digital Currency Stocks Directory
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