# Bakkt commences user acceptance testing for its bitcoin futures By Charissa Echavez Canonical URL: https://www.tokenpost.com/news/business/2739 Published: 2019-07-23T06:50:40.000Z Updated: 2019-07-23T06:50:40.000Z Section: Business > Bakkt, a subsidiary of New York Stock Exchange (NYSE) parent company Intercontinental Exchange (ICE), has started testing the delivery of BTC futures. Bakkt, a subsidiary of New York Stock Exchange (NYSE) parent company Intercontinental Exchange (ICE), has started testing the delivery of BTC futures. As per its official [tweet](), user acceptance testing for bitcoin daily and monthly futures began on Monday. As previously reported, daily settlement bitcoin futures allow clients to transact in a same-day market, whereas monthly bitcoin future contracts enable trading in the front month and across the forward pricing curve. Today kicks off user acceptance testing [@ICE_Markets]() for the Bakkt Bitcoin Daily & Monthly Futures contracts Testing is proceeding as planned with participants from around the world — Bakkt (@Bakkt) [July 22, 2019]() According to the ICE Futures U.S. [filing]() with the CFTC, the contracts will be physically settled, which means “that the selling Clearing member would be required at settlement to deliver to the buying Clearing Member a specified quantity of Bitcoin.” Prices for both future contracts will depend on internal pricing discovery. In addition, the final settlement of both contracts will be done at the Bakkt warehouse. The Bitcoin Magazine [noted]() this is the first of its kind in the regulated bitcoin market as futures from Chicago Mercantile Exchange (CME) and Chicago Board Options Exchange (CBOE) are settled in cash. The most-awaited release of Bakkt’s futures was first [announced]() by COO Adam White in a tweet, saying “On July 22, two days after Apollo 11’s 50th anniversary, Bakkt will initiate user acceptance testing for its Bitcoin futures listed and traded at ICE Futures U.S. and cleared at ICE Clear US.” ## Links in this article - [tweet](https://twitter.com/Bakkt/status/1153386876801310730?s=20) - [@ICE_Markets](https://twitter.com/ICE_Markets?ref_src=twsrc%5Etfw) - [July 22, 2019](https://twitter.com/Bakkt/status/1153386876801310730?ref_src=twsrc%5Etfw) - [filing](https://www.theice.com/publicdocs/regulatory_filings/19-160_Listing_Bitcoin_Daily_Futures_Contract.pdf) - [noted](https://bitcoinmagazine.com/articles/year-hype-bakkt-soft-launches-closed-beta) - [announced](https://medium.com/bakkt-blog/putting-bakks-bitcoin-futures-to-the-test-47e381b7dda1)