{"id":9063,"date":"2023-04-13T20:46:01","date_gmt":"2023-04-13T20:46:01","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/lse-teams-with-digital\/"},"modified":"2023-04-13T20:49:17","modified_gmt":"2023-04-13T20:49:17","slug":"lseg-teams-with-digital","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/lseg-teams-with-digital\/","title":{"rendered":"LSEG teams with digital trading platform to offer bitcoin futures and options"},"content":{"rendered":"\n

LONDON (Reuters) -London Stock Exchange Group has teamed up with Global Futures and Options (GFO-X) to offer Britain’s first regulated trading and clearing in bitcoin index futures and options derivatives, the companies said on Thursday.<\/p>\n

Britain, which aims to become a global hub for crypto technology, launched a public consultation earlier this year on future rules for cryptoassets, which are currently unregulated.<\/p>\n

GFO-X, which is licensed by the UK’s Financial Conduct Authority, is a start-up platform aimed at global institutional investors who want to trade digital asset derivatives.<\/p>\n

LSEG’s Paris-based LCH SA clearing unit will introduce a new, segregated clearing service, DigitalAssetClear, for cash-settled dollar-denominated digital assets traded on GFO-X.<\/p>\n

The new service is anticipated to start in the fourth quarter of this year, pending approval from French and European Union regulators.<\/p>\n

“GFO-X is taking the first steps to extracting efficiencies from new technologies within a traditional market structure, with the goal over time of delivering 24\/7 trading to global regulated digital asset markets,” GFO-X said in a statement.<\/p>\n

Rival CME Group already offers bitcoin futures and options, while CBOE acquired a digital asset exchange, ErisX.<\/p>\n

Deutsche Boerse’s Eurex is due to launch dollar and euro denominated futures on the FTSE bitcoin index next Monday.<\/p>\n

GFO-X’s inclusion of a long-established mainstream clearing house is aimed at reassuring investors after collapses in the crypto sector, including FTX exchange.<\/p>\n

“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\u2019 assets protected,” said Arnab Sen, chief executive and co-founder of GFO-X.<\/p>\n

Frank Soussan, head of LCH DigitalAssetClear, said bitcoin index futures and options are a rapidly growing asset class, with growing interest among institutional investors.<\/p>\n

“We look forward to working with GFO-X and market participants alike to build a liquid, regulated marketplace for these products, and contributing to its safe growth and development,” Soussan said.<\/p>\n

LSEG owns data and analytics business Refinitiv, formerly a division of Thomson Reuters. Thomson Reuters holds a minority stake in LSEG, and LSEG pays Reuters for news.<\/p>\n

(Reporting by Huw Jones; Editing by Mike Harrison and Susan Fenton)<\/p>\n

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LONDON (Reuters) -London Stock Exchange Group has teamed up with Global Futures and Options (GFO-X) to offer Britain’s first regulated trading and clearing in bitcoin index futures and options derivatives, the companies said on Thursday. Britain, which aims to become a global hub for crypto technology, launched a public consultation earlier this year on future […]<\/p>\n","protected":false},"author":8,"featured_media":9064,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1220],"tags":[1223],"class_list":["post-9063","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-technology","tag-updated"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportTechnologyNews\/tagreuters.com2023binary_LYNXMPEJ3C0G2-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/9063","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=9063"}],"version-history":[{"count":3,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/9063\/revisions"}],"predecessor-version":[{"id":9707,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/9063\/revisions\/9707"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/9064"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=9063"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=9063"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=9063"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}