The New York Stock Exchange, part of Intercontinental Exchange, Inc. (NYSE:ICE), announced today that it is partnering with CoinDesk Indices to launch cash-settled index options that track the CoinDesk Bitcoin Price Index (XBX).
ICE and the NYSE intend to work with CoinDesk indices and relevant regulatory bodies to develop specific product offerings. Last year, ICE Futures Singapore partnered with CoinDesk Indices to update its bitcoin futures, CoinDesk Bitcoin Futures (BMC), to use XBX for monthly contract settlement.
XBX tracks the spot price of bitcoin, denominated in USD, in real time on multiple crypto exchanges. XBX is calculated and published once a second, 24 hours a day, 365 days a year.
“As traditional institutions and everyday investors show excitement over the recent approval of spot bitcoin ETFs, the New York Stock Exchange is excited to announce its partnership with CoinDesk Indices,” said Jon Herrick, Chief Product Officer, New York Stock. Exchange. “With regulatory approval, these options contracts will provide investors with access to an important liquid and transparent risk management tool.”