London Stock Exchange Will Clear BTC Derivatives

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A division of the London Stock Exchange, LCH DigitalAssetClear, is set to begin offering clearing services for futures and options on Bitcoin indices traded on the GFO-X platform in the fourth quarter of 2023.

As stated in their press release, these derivative contracts will settle in cash and be based on the GFO-X/Coin Metrics reference rate in USD, which reflects the price of the first cryptocurrency.

Frank Soussan, the head of LCH DigitalAssetClear, noted that this asset class is quickly gaining interest among institutional market participants looking to access it in a regulated environment.

The organization has created a separate fund in order to keep the clearing of digital assets isolated from other trading operations.

This news follows the Stuttgart Stock Exchange being granted a cryptocurrency custodian license by the German Federal Financial Supervisory Authority at the end of March, and the Tel Aviv Stock Exchange announcing plans to launch its own blockchain platform for digital asset trading.