Breaking: NYSE to collaborate with CoinDesk indices on Bitcoin index options

Breaking: NYSE to collaborate with CoinDesk indices on Bitcoin index options
фото показано с : invezz.com

2024-5-30 15:48

The New York Stock Exchange (NYSE) has announced a strategic collaboration with CoinDesk Indices to introduce cash-settled index options that will track the CoinDesk Bitcoin Price Index (XBX), the longest-operating spot Bitcoin index.

This partnership aims to offer investors a reliable and liquid risk-management tool, leveraging the expertise of both entities.

Integrating traditional and digital finance

A joint statement said,

ICE [Intercontinental Exchange, Inc.] and the NYSE intend to work with CoinDesk Indices and the relevant regulatory agencies to develop specific product offerings.

This collaboration highlights the ongoing integration of traditional financial markets with digital assets, providing investors with more options and greater transparency.

CoinDesk Indices, a subsidiary of Bullish, is renowned for producing indices that support some of the largest digital asset products globally.

Their flagship indices, such as XBX and the CoinDesk 20 Index, are industry benchmarks for measuring, trading, and investing in digital assets.

The NYSE, with its 232-year history in trading technology and a market capitalization of about $39 trillion, stands as the world’s largest stock exchange.

NYSE President Lynn Martin and Tom Farley, CEO of Bullish, are scheduled to speak at the Consensus 2024 conference in Austin, Texas, discussing the convergence of crypto and traditional finance.

Their insights will likely shed more light on the implications of this collaboration for the broader financial markets.

Intercontinental Exchange, Inc. (NYSE: ICE), a Fortune 500 company, is behind this initiative, reflecting its commitment to providing innovative financial technology and data services across major asset classes.

What did NYSE top management say?

Jon Herrick, NYSE Chief Product Officer, remarked,

As 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.

He added that upon regulatory approval, these options contracts will offer investors an essential liquid and transparent risk-management tool.

The post Breaking: NYSE to collaborate with CoinDesk indices on Bitcoin index options appeared first on Invezz

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