Bitcoin

As the <a href="https://finbold.com/category/cryptocurrency-news/" rel="noopener noreferrer nofollow">cryptocurrency industry</a> continues to expand and institutions begin to show increased interest in digital assets such as Bitcoin (<a href="https://finbold.com/cryptocurrency/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>), the management of the London Stock Exchange Group (LSEG) has decided to introduce Bitcoin <a href="https://finbold.com/guide/futures-trading/" rel="noopener noreferrer nofollow">futures</a> and <a href="https://finbold.com/guide/stock-options-definition/" rel="noopener noreferrer nofollow">options</a> into its offering.Indeed, the LSEG has joined forces with the institutional-grade digital trading venue focused on <a href="https://finbold.com/cryptocurrencies/" rel="noopener noreferrer nofollow">cryptocurrency</a> derivatives, Global Futures and Options (GFO-X), to offer Britain’s first <a href="https://finbold.com/category/regulations-news/" rel="noopener noreferrer nofollow">regulated</a> trading and clearing in <a href="https://finbold.com/topic/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> index futures and options <a href="https://finbold.com/guide/derivatives-definition/" rel="noopener noreferrer nofollow">derivatives</a>, as per the <a href="https://www.businesswire.com/news/home/20230413005410/en/GFO-X-Announces-Strategic-Partnership-With-LCH-SA-for-Trading-and-Clearing-of-Bitcoin-Index-Futures-and-Options" rel="noopener noreferrer nofollow">press release</a> published on April 13.According to the statement:<blockquote>“GFO-X is taking the first steps to extracting efficiencies from new <a href="https://finbold.com/category/technology-news/" rel="noopener noreferrer nofollow">technologies</a> within a traditional market structure, with the goal over time of delivering 24/7 trading to global regulated digital asset markets.”</blockquote><h2 id="header-0">Trust in unregulated environment</h2>Considering that there is still no official regulation regarding the <a href="https://finbold.com/guides/cryptocurrency/" rel="noopener noreferrer nofollow">crypto</a> market in the United Kingdom, the LCEG’s partnership with GFO-X, licensed by the UK’s Financial Conduct Authority (<a href="https://finbold.com/topic/fca/" rel="noopener noreferrer nofollow">FCA</a>), seeks to add trust to the digital asset derivatives ecosystem, bringing cryptos one step closer to mainstream <a href="https://finbold.com/guides/" rel="noopener noreferrer nofollow">finance</a>.As part of the project, LSEG’s Paris-based LCH SA clearing unit will introduce DigitalAssetClear, a new, segregated clearing service for cash-settled Bitcoin index derivatives traded on GFO-X. This service will launch in the fourth quarter of 2023 after the completion of LCH SA regulatory approvals.Commenting on the development, Frank Soussan, the Head of LCH DigitalAssetClear, said:<blockquote>“Bitcoin index futures and options are a rapidly growing asset class, with increasing interest among institutional market participants looking for access within a regulated environment they are familiar with. The service is a powerful combination of GFO-X’s high-performance technology and optimized contract specifications with LCH’s proven risk management capabilities.”</blockquote>In February, the British government launched a <a href="https://www.gov.uk/government/consultations/future-financial-services-regulatory-regime-for-cryptoassets" rel="noopener noreferrer nofollow">public consultation</a> on the future <a href="https://finbold.com/guides/" rel="noopener noreferrer nofollow">financial</a> services regulatory regime for cryptocurrencies, as well as the risks and opportunities they present, demonstrating its commitment to turning the UK into a global crypto hub. The consultation will close on April 30, 2023.Read more cryptocurrency news on <a href="https://finbold.com/category/cryptocurrency-news/?utm_source&#61;CMC&amp;utm_medium&#61;social&amp;utm_campaign&#61;CMC&amp;utm_content&#61;long" rel="noopener noreferrer nofollow">Finbold.com</a>.

London Stock Exchange to offer Bitcoin futures and options

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