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.

AccessTimeIconSep 13, 2023 at 1:00 a.m. UTC
Updated Sep 13, 2023 at 2:37 a.m. UTC

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.

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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Stephen  Alpher

Stephen Alpher is CoinDesk's managing editor for Markets. He holds BTC above CoinDesk’s disclosure threshold of $1,000.

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