About Bakkt :In August 2018 Intercontinental Exchange announced that it planned to form a new company; Bakkt; which is intended to leverage Microsoft cloud solutions to create an open and regulated; global ecosystem for digital assets. The new company will work with a marquee group of organizations including Boston Consulting Group (BCG); Microsoft; Starbucks; and others; to create an integrated platform that enables consumers and institutions to buy; sell; store and spend digital assets on a seamless global network.The Bakkt ecosystem is expected to include federally regulated markets and warehousing along with merchant and consumer applications. Its first use cases will be for trading and conversion of Bitcoin versus fiat currencies; as Bitcoin is today the most liquid digital currency. The effort is designed to address evolving needs in the estimated $270 billion digital asset marketplace.As an initial component of the Bakkt offering; Intercontinental Exchange�s U.S.-based futures exchange and clearing house plan to launch a 1-day physically delivered Bitcoin contract along with physical warehousing in November 2018; subject to CFTC review and approval. These regulated venues will establish new protocols for managing the specific security and settlement requirements of digital currencies. In addition; the clearing house plans to create a separate guarantee fund that will be funded by Bakkt.In addition to Intercontinental Exchange and M12; Microsoft�s venture capital arm; investors in Bakkt are expected to include; among others; an affiliate of Fortress Investment Group; Eagle Seven; Galaxy Digital; Horizons Ventures; Alan Howard; Pantera Capital; Protocol Ventures; and Susquehanna International Group; LLP.Intercontinental Exchange (ICE) is an American company that owns exchanges for financial and commodity markets; and operates 12 regulated exchanges and marketplaces. This includes ICE futures exchanges in the United States; Canada and Europe; the Liffe futures exchanges in Europe; the New York Stock Exchange equity options exchanges and OTC energy; credit and equity markets.ICE also owns and operates 6 central clearing houses: ICE Clear U.S.; ICE Clear Europe; ICE Clear Singapore; ICE Clear Credit; ICE Clear Netherlands and ICE NGX. ICE has offices in Atlanta; New York; London; Chicago; Houston; Winnipeg; Amsterdam; Calgary; Washington; D.C.; San Francisco; Tel Aviv and Singapore.