London Stock Exchange Group (LSE) on Thursday said it will offer Bitcoin index futures and options derivatives trading and clearing services this year. The LSE has partnered with a digital trading platform to providers users an option to invest in Bitcoin.
London Stock Exchange partnered with Global Futures and Options (GFO-X) to launch UK’s first regulated Bitcoin futures and options trading, reported Reuters on April 13.
Great Britain has taken a cautious approach to crypto adoption while it prepares to become a global hub for crypto. It also launched a public consultation on future rules for crypto assets, which remain unregulated currently.
GFO-X allows global institutional investors to trade digital asset derivatives. London Stock Exchange Group Paris-based LCH SA clearing arm will introduce DigitalAssetClear, a clearing service for cash-settled dollar-denominated digital assets traded on GFO-X.
The launch of Bitcoin futures and options trading is expected in Q4 2023. Currently, the clearing service is pending approval from French regulators.
Arnab Sen, chief executive and co-founder of GFO-X, said:
“Recent market events in the trading of digital assets have highlighted the need for a safe, regulated venue where large financial institutions can trade at scale, while keeping their clients’ assets protected.”
London Stock Exchange agreed that Bitcoin index futures and options are increasingly becoming a growing asset class amid recent events such as the banking crisis in the U.S. Moreover, the UK has witnessed increasing interest in crypto from institutional investors.
The post Breaking: London Stock Exchange To Launch Bitcoin Futures And Options Trading appeared first on CoinGape.
Source: https://coingape.com/london-stock-exchange-launches-bitcoin-futures-and-options-trading/