London Stock Exchange Group Unit to Clear Bitcoin Index Futures, Options

LCH said its partnership with trading venue GFO-X shows its commitment to the crypto asset class

AccessTimeIconApr 13, 2023 at 12:54 p.m. UTC
Updated Apr 13, 2023 at 8:06 p.m. UTC

LCH, the clearinghouse arm of the London Stock Exchange Group, will offer clearing services for cash-settled bitcoin (BTC) index futures and options, the company said in a statement Thursday.

The separate service LCH DigitalAssetClear, part of the company's French arm, will finalize trades made on GFO-X, a U.K.-regulated digital asset exchange, LCH said.

“Bitcoin index futures and options are a rapidly growing asset class,” Frank Soussan, head of LCH DigitalAssetClear, said in a statement, citing “increasing interest among institutional market participants looking for access within a regulated environment they are familiar with.”

Clearinghouses offer a centralized venue in which to finalize trades that are agreed on an exchange. Since the 2008 financial crisis, they have been favored by regulators as a way to lessen the risk of separate bilateral deals among players such as investment banks.

The move represents the latest foray by traditional finance players into the crypto market. In March, the Stuttgart stock exchange secured a crypto custody license from German regulator BaFin, and Brussels-based clearinghouse Euroclear has said it will soon be ready to launch a bond settlement platform based on crypto-style distributed ledger technology.

Edited by Stephen Alpher.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Jack Schickler is a CoinDesk reporter focused on crypto regulations, based in Brussels, Belgium. He doesn’t own any crypto.

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.