The London Stock Exchange’s clearing arm will begin providing clearing services for Bitcoin-index futures and options traded on the GFO-X platform. This is stated in the organisation’s пресс-релизе.
Settlements for derivative contracts will be cash-settled through the new entity — LCH DigitalAssetClear. They are based on the GFO-X/Coin Metrics reference rate in USD, reflecting the price of Bitcoin.
Representatives said that clearing for digital assets is fully isolated from other trading operations. To this end, the organisation has created a dedicated fund.
The service is expected to launch in Q4 2023.
“Bitcoin index futures and options are a fast-growing asset class. Interest in them is rising rapidly among institutional market participants seeking access in a familiar, regulated environment,” said Frank Sussan, head of LCH DigitalAssetClear.
In late March, the Stuttgart Stock Exchange division received a crypto-custodian license from the German Federal Financial Supervisory Authority.
Earlier, the Tel Aviv Stock Exchange announced plans to launch its own blockchain platform for trading digital assets.