ICE Futures Singapore, a division of one of the world's largest exchange operators, is overhauling its bitcoin futures offering to use a benchmark supplied by CoinDesk Indices, according to a press release.

The new CoinDesk Bitcoin Futures (BMC) will settle using the CoinDesk Bitcoin Price Index (XBX) beginning with the October contracts.

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The CoinDesk index has been in operation since 2014 and serves as the benchmark for roughly $17 billion of assets under management in investment vehicles. Meanwhile, ICE Futures Singapore is a division of Intercontinental Exchange (ICE), which runs major futures exchanges around the globe and also owns the New York Stock Exchange.

"We are excited to expand our presence into the [Asia-Pacific] region through this collaboration with ICE Futures Singapore," Andy Baehr, managing director at CoinDesk Indices, said in the statement. "This move underscores CDI’s commitment to serving global markets and offering world-class solutions to marketplace participants."

CoinDesk Indices is a subsidiary of CoinDesk.

Edited by Aoyon Ashraf.

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CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

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CoinDesk Indices Expands Into Asia-Pacific Through Deal With Major Exchange Operator ICE

ICE Futures Singapore's bitcoin futures contracts will now be known as CoinDesk Bitcoin Futures contracts.

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