GFO-X Partners with LCH to Clear Bitcoin Index Futures and Options
GFO-X, a startup in the crypto derivatives trading market, has announced its partnership with LCH, the French clearinghouse unit of the London Stock Exchange Group. Through this collaboration, LCH will begin clearing bitcoin index futures and options for GFO-X’s trading platform.
Lack of Regulated Trading Venues Hindering Market Growth
Jeremy Punnett, a portfolio manager at M&G, stated that the lack of regulated trading venues is impeding the growth of the crypto derivatives trading market. He believes that the UK has the potential to become a global hub for crypto asset technology and investment. Punnett sees London as an excellent destination for GFO-X’s new global trading venue and believes that this investment will enable GFO-X to scale its operations.
The Shift from Unregulated to Regulated Venues
Punnett also mentioned that investors are increasingly shifting their trading from unregulated to regulated venues. This trend presents an opportunity for GFO-X to benefit from the growing demand for regulated trading platforms.
About Author
Ryan Weeks is deals editor at The Block, where he focuses on fundraising, M&A, and institutional trends in the crypto space. With a background in investigative work, Ryan welcomes tips related to his coverage. Prior to joining The Block, he worked as a fintech correspondent for Financial News and Dow Jones in London. Ryan has contributed to various publications including Sifted, AltFi, and Wired. Outside of journalism, he enjoys staying active through activities like running, rugby, climbing, and tennis.
Hot Take: GFO-X’s Partnership with LCH Boosts Crypto Derivatives Market
GFO-X’s collaboration with LCH to clear bitcoin index futures and options marks a significant development for the crypto derivatives trading market. The lack of regulated trading venues has hindered the growth of this market, but with GFO-X’s new global trading venue in London, there is potential for the UK to become a global hub for crypto asset technology and investment.
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