LMAX Group, the cryptocurrency and FX exchange, will start trading futures for bitcoin and ethereum in the third quarter.
Working with SIX, the Swiss and Spanish stock market operator, it will provide cash-settled, centrally cleared dollar crypto asset futures, LMAX said on 17 March. Initially, trading will be five days a week, with plans to expand it to 24 hours a day seven days a week.
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“As institutional adoption of crypto trading continues to increase, we will complete our offering, said David Mercer, chief executive of LMAX. “By offering access to deep institutional liquidity, we are providing a significant market entry opportunity as crypto and blockchain finance evolves.”
The move is another sign that digital assets are becoming more mainstream. While they started as something traded mainly by retail investors, big investment banks such as Standard Chartered, Barclays, Goldman Sachs and UBS are starting to incorporate crypto assets into their portfolios.
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