Market Overview

Intercontinental Exchange Announces Bakkt, a Global Platform and Ecosystem for Digital Assets


Launch of regulated, physical Bitcoin futures contract and
warehouse planned for November 2018

Bakkt to draw on expertise from leading companies across regulated
markets, risk management, technology and consumer experience including
BCG, Intercontinental Exchange, Microsoft and Starbucks

Intercontinental Exchange (NYSE:ICE), a leading operator of global
exchanges, clearing houses, data and listings services, announced today
that it plans to form a new company, Bakkt, which intends to leverage
Microsoft cloud solutions to create an open and regulated, global
ecosystem for digital assets. The new company is working with a marquee
group of organizations including 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

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.

Applications for digital currencies continue to develop alongside
regulatory frameworks and rising investment in blockchain technology
which, halfway through 2018, has already exceeded all of 2017, according
to KPMG. By leveraging trusted market infrastructure, Bakkt is being
engineered to help the digital asset markets evolve securely and
efficiently while supporting transaction flows.

"In bringing regulated, connected infrastructure together with
institutional and consumer applications for digital assets, we aim to
build confidence in the asset class on a global scale, consistent with
our track record of bringing transparency and trust to previously
unregulated markets," said Jeffrey C. Sprecher, Founder, Chairman and
CEO of Intercontinental Exchange.

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.

"Bakkt is designed to serve as a scalable on-ramp for institutional,
merchant and consumer participation in digital assets by promoting
greater efficiency, security and utility," said Kelly Loeffler, CEO of
Bakkt. "We are collaborating to build an open platform that helps unlock
the transformative potential of digital assets across global markets and

"Blockchain technology holds tremendous potential to enable new business
models and trusted ecosystems," said Sean Collins, Senior Partner, BCG.
"By leveraging and developing fundamental market infrastructure, the
Bakkt platform will enable firms across industries to accelerate a range
of innovation."

"As the flagship retailer, Starbucks will play a pivotal role in
developing practical, trusted and regulated applications for consumers
to convert their digital assets into US dollars for use at Starbucks,"
said Maria Smith, Vice President, Partnerships and Payments for
Starbucks. "As a leader in Mobile Pay to our more than 15 million
Starbucks Rewards members, Starbucks is committed to innovation for
expanding payment options for our customers."

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.

Bakkt is currently in preparation for launch and further operational
details will be announced in the coming weeks. To sign up to receive
alerts and information, please visit

About Bakkt

Bakkt is designed to enable consumers and institutions to seamlessly
buy, sell, store and spend digital assets. Formed with the purpose of
bringing trust, efficiency and commerce to digital assets, Bakkt seeks
to develop open technology to connect existing market and merchant
infrastructure to the blockchain.

About Intercontinental Exchange

Intercontinental Exchange (NYSE:ICE) is a Fortune 500 and Fortune
Future 50 company formed in the year 2000 to modernize markets. ICE
serves customers by operating the exchanges, clearing houses and
information services they rely upon to invest, trade and manage risk
across global financial and commodity markets. A leader in market data,
ICE Data Services serves the information and connectivity needs across
virtually all asset classes. ICE is the parent company of the New York
Stock Exchange, which has helped companies raise more capital than any
other exchange in the world, driving economic growth and transforming

Safe Harbor Statement under the Private Securities Litigation Reform
Act of 1995

Statements in this press release regarding ICE's plans to launch Bakkt
and a regulated, physical Bitcoin futures contract and warehousing, as
well as statements regarding Bakkt's business objectives, opportunities
and investors are not historical facts and are "forward-looking
statements" 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's
Securities and Exchange Commission (SEC) filings, including, but not
limited to, the risk factors in Intercontinental Exchange, Inc.'s Annual
Report on Form 10-K for the year ended December 31, 2017, as filed with
the SEC on February 7, 2018. We caution you not to place undue reliance
on these forward looking statements. Any forward-looking statement
speaks only as of the date on which such statement is made, and we
undertake no obligation to update any forward-looking statement or
statements to reflect events or circumstances after the date on which
such statement is made or to reflect the occurrence of an unanticipated
event. New factors emerge from time to time, and it is not possible for
management to predict all factors that may affect our business and
prospects. Further, management cannot assess the impact of each factor
on the business or the extent to which any factor, or combination of
factors, may cause actual results to differ materially from those
contained in any forward-looking statements.


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