New York, US, 31st May 2024, ZEX PR WIRE<\/a>,<\/strong> The New York Stock Exchange, part of Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of technology and data, today announced it is collaborating with CoinDesk Indices to launch cash-settled index options tracking the CoinDesk Bitcoin Price Index (XBX), the longest-operating spot bitcoin index.<\/p>\n ICE and the NYSE intend to work with CoinDesk Indices and the relevant regulatory agencies to develop specific product offerings. Last year, ICE Futures Singapore collaborated with CoinDesk Indices to update its bitcoin futures contracts, CoinDesk Bitcoin Futures (BMC), to utilize XBX for its monthly contract settlement.<\/p>\n Currently the benchmark for $20 billion in ETF assets under management, XBX tracks the spot price of bitcoin, denominated in U.S. dollars, in real time across multiple crypto exchanges. XBX is calculated and published once per second, 24 hours per day, 365 days each year.<\/p>\n \u201cAs traditional institutions and everyday investors are demonstrating their wide-ranging enthusiasm for the recent approval of spot bitcoin ETFs, the New York Stock Exchange is excited to announce its collaboration with CoinDesk Indices,\u201d said Jon Herrick, Chief Product Officer, New York Stock Exchange. \u201cUpon regulatory approval, these options contracts will offer investors access to an important liquid and transparent risk-management tool.\u201d<\/p>\n \u201cXBX has delivered a trusted price of bitcoin to millions of investors, market participants, and bitcoin enthusiasts since 2014,\u201d said Andy Baehr, Head of Product, CoinDesk Indices. \u201cCollaborating with the NYSE to launch XBX index options opens a new chapter in digital assets, placing important and familiar risk-management tools in the hands of U.S. and global investors.\u201d<\/p>\n The collaboration continues the relationship between two trusted organizations with unparalleled expertise in offering investor access and choice. CoinDesk Indices, a subsidiary of Bullish, produces indices that support some of the world\u2019s largest digital asset products. Its flagship indices, such as XBX and the CoinDesk 20 Index, set the industry standard for measuring, trading and investing in digital assets. The NYSE, with 232 years of advances in trading technology, ranks as the world\u2019s largest stock exchange, with a market capitalization of about $39 trillion.<\/p>\n NYSE President Lynn Martin and Tom Farley, CEO of Bullish, the parent of CoinDesk Indices, will be speaking together later today at the Consensus 2024 conference in Austin, Texas on a panel about the convergence of crypto and traditional finance.<\/p>\n About Intercontinental Exchange<\/strong><\/p>\n Intercontinental Exchange, Inc.<\/a>\u00a0(NYSE: ICE) is a Fortune 500 company that designs, builds, and operates digital networks that connect people to opportunity. We provide financial technology and data services across major asset classes helping our customers access mission-critical workflow tools that increase transparency and efficiency. ICE\u2019s futures, equity, and options\u00a0exchanges<\/a>\u00a0\u2014 including the\u00a0New York Stock Exchange\u00a0\u2014 and\u00a0clearing houses<\/a>\u00a0help people invest, raise capital and manage risk. We offer some of the world\u2019s largest markets to trade and clear energy and environmental products. Our fixed income,\u00a0data services<\/a>\u00a0and execution capabilities provide information, analytics and platforms that help our customers streamline processes and capitalize on opportunities. At\u00a0ICE Mortgage Technology, we are transforming U.S. housing finance, from initial consumer engagement through loan production, closing, registration and the long-term servicing relationship. Together, ICE transforms, streamlines, and automates industries to connect our customers to opportunity.<\/p>\n Trademarks of ICE and\/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and\/or its affiliates is located\u00a0here<\/a>. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading \u201cKey Information Documents (KIDS).\u201d<\/p>\n Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 \u2014 Statements in this press release regarding ICE\u2019s business that are not historical facts are \u201cforward-looking statements\u201d that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE\u2019s Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE\u2019s Annual Report on Form 10-K for the year ended December 31, 2023, as filed with the SEC on February 8, 2024.<\/p>\n About CoinDesk Indices<\/strong><\/p>\n Since 2014, CoinDesk Indices has been at the forefront of the digital asset revolution, empowering investors globally. A subsidiary of Bullish, our indices form the foundation of the world\u2019s largest digital asset products. Known for their precision and compliance, flagships such as the CoinDesk Bitcoin Price Index (XBX) and the CoinDesk 20 Index set the industry standard for measuring, trading, and investing in digital assets. With tens of billions of dollars in benchmarked assets, CoinDesk Indices is a trusted partner. Discover more at\u00a0coindeskmarkets.com.<\/p>\n<\/div>\n<\/div>\n \nThe Post The New York Stock Exchange Announces Collaboration with CoinDesk Indices to Launch Financial Products Tracking Spot Bitcoin Prices\t<\/a> first appeared on ZEX PR Wire<\/a> <\/p>\n<\/div>\n Information contained on this page is provided by an independent third-party content provider. Binary News Network and this Site make no warranties or representations in connection therewith. If you are affiliated with this page and would like it removed please contact contact@binarynewsnetwork.com<\/p>\n","protected":false},"excerpt":{"rendered":" New York, US, 31st May 2024, ZEX PR WIRE, The New York Stock Exchange, part of Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of technology and data, today announced it is collaborating with CoinDesk Indices to launch cash-settled index options tracking the CoinDesk Bitcoin Price Index (XBX), the longest-operating spot bitcoin index. 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