LCH, the world’s largest derivatives clearing house, and a London Stock Exchange Group (LSEG) subsidiary, has launched its dedicated clearing venue for digital asset derivatives, LCH DigitalAssetClear. It provides central clearing for GFO-X, a UK regulated trading venue for digital asset derivatives, starting with bitcoin index futures and options. The first live GFO-X transaction took place between Virtu Financial and IMC.
GFO-X attracted a $30 million Series B funding in late 2023, after landing a license as a multilateral trading facility (MTF) from the UK’s Financial Conduct Authority the previous year. UK asset manager M&G led the funding and is the largest shareholder, controlling more than a quarter of the company’s stock but less than half.
“The launch of GFO-X is a further foundational step toward increased institutional digital asset derivatives trading, providing the infrastructure, central clearing, robust risk mitigation, and liquidity,” said GFO-X CEO, Arnab Sen. “With our first trade executed between two leading financial institutions providing deep liquidity, we are expanding the market for centrally cleared digital asset derivatives.”
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