Cryptocurrency to get first derivative trading platform in London
The cryptocurrencies market has taken a further step towards the mainstream in Britain with the opening of a digital assets derivatives trading platform in London.
The first institutional trade on the venue, which is called GFO-X and describes itself as 'institutional-grade', was to take place on Tuesday and is a landmark for the industry because it is Britain's first regulated and centrally cleared platform for crypto derivatives.
GFO-X, backed by the FTSE 100 fund management group M&G, offers bitcoin index futures and options but plans to expand its range of products in the future. It is authorised by the Financial Conduct Authority (FCA) and uses clearing services provided by LCH, the giant clearing house that is controlled by London Stock Exchange Group.
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