- LCH SA will provide clearing services through LCH DigitalAssetClear for cash-settled Bitcoin index futures and options contracts, traded on UK FCA-regulated digital asset derivatives trading venue, GFO-X.
- ABN AMRO Clearing Bank, Nomura International Plc and Standard Chartered Bank are the first clearing members to join the new service.
- LCH DigitalAssetClear service will provide market participants with access to clearing of digital asset derivatives in a regulated environment.
- Demonstrates LCH SA’s commitment to bringing the benefits of clearing to this growing asset class and expanding its services as a truly international clearing house.
LSEG today announces that LCH SA has launched its new LCH DigitalAssetClear service. LCH DigitalAssetClear will provide market participants with access to the clearing of digital asset derivatives traded on GFO-X, the UK’s first FCA-regulated, centrally-cleared multilateral trading facility (MTF) dedicated to digital asset futures and options. The launch of the service illustrates LCH SA’s diversification into new asset classes and demonstrates the continued expansion of LSEG’s post trade ecosystem. ABN AMRO Clearing Bank, Nomura International Plc and Standard Chartered Bank are the first clearing members offering clearing services to trading participants and market makers on LCH DigitalAssetClear.
LCH DigitalAssetClear has been developed by LCH SA, in close consultation with GFO-X and market participants, to ensure their digital asset derivatives can be cleared through a service that is secure, segregated, highly regulated and focused solely on digital asset derivatives. All cash-settled Bitcoin index futures and options contracts traded on GFO-X will be cleared through LCH DigitalAssetClear using the GFO-X/Coin Metrics Single Asset Real-Time Bitcoin Index (GFOXBR), which is an EU Benchmark Regulation compliant reference rate for the U.S. dollar price of Bitcoin.
Marcus Robinson, Head of DigitalAssetClear and CDSClear, LCH, said: “We are delighted to launch this highly anticipated service from LCH SA. The regulated clearing infrastructure within LSEG’s post trade ecosystem has allowed us to build something meaningful for our participants and address the availability of options for a rapidly growing asset class. It is essential that we find ways to offer regulated, segregated and trusted routes to provide customers with a diverse breadth of services and we are excited to continue working with GFO-X to offer a regulated marketplace for this asset class.”
Arnab Sen, CEO and Co-Founder, GFO-X said: "We are excited to launch our UK regulated, centrally cleared, bitcoin futures and options venue in partnership with LCH SA. The combination of GFO-X’s dedicated digital asset derivatives offering and LCH DigitalAssetClear brings much needed choice and venue diversification to institutional investors. We believe the digital asset derivates market, in particular options, will grow exponentially but requires regulated and counterparty risk mitigation solutions to achieve scale. By integrating LCH DigitalAssetClear, our UK regulated venue brings much needed enhanced risk mitigation to digital asset derivatives."
Learn more about LCH DigitalAssetClear here: LCH's Bitcoin Regulated Clearing Solution
To view the announcement in French, please download the PDF.
Contacts
LSEG Press Office
Harriet Leatherbarrow
Tel: +44 (0)20 7797 1000
Email: newsroom@lseg.com
Website: www.lseg.com
About Post Trade Solutions
Post Trade Solutions brings together Acadia, Quantile and SwapAgent to streamline operations, reduce risk and improve capital efficiency.
By connecting with existing cleared infrastructure, we bring the benefits of clearing to the bilateral space, driving efficiency no matter where customers choose to trade their risk.
By combining our top-tier solutions with continuous innovation we can streamline workflows and operations, centralise data on open-access platforms, optimise to reduce risk and improve capital efficiency, analyse to simplify regulatory compliance, and advise our community to solve the industry’s most complex challenges.
Our network includes over 3,000 firms, including all the top dealer banks, regional banks, buy-side firms and corporates.
For more information, visit our website.
About LSEG
LSEG (London Stock Exchange Group) is a leading global financial markets infrastructure and data provider, playing a vital social and economic role in the world’s financial system.
With our open approach, trusted expertise and global scale, we enable the sustainable growth and stability of our customers and their communities. We are dedicated partners with extensive experience, deep knowledge and a worldwide presence in data and analytics; indices; capital formation; and trade execution, clearing and risk management across multiple asset classes.
LSEG is headquartered in the United Kingdom, with significant operations in 65 countries across EMEA, North America, Latin America and Asia Pacific. We employ over 26,000 people globally, more than half located in Asia Pacific.
LSEG’s ticker symbol is LSEG.
This document has been provided to you for informational purposes only and is intended as an overview of certain aspects of, or proposed changes to, the SwapClear, Listed Interest Rates, SwapAgent and/or any other service provided by LCH Group Holdings Limited (“LCH Group”) or any of its group undertakings (group undertakings shall be construed in accordance with section 1161 of the Companies Act 2006; each an “LCH Group Company”).
LCH Limited is supervised by the Bank of England within the UK regulatory framework, registered as a derivatives clearing organisation with the U.S. Commodity Futures Trading Commission (“CFTC”) and recognised as a third-country CCP under Regulation (EU) No. 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties and trade repositories (“EMIR”). LCH S.A. is regulated and supervised in France by the Autorité des Marchés Financiers, the Autorité de Contrôle Prudentiel et de Résolution and the Banque de France, authorised as an E.U. CCP under EMIR, registered as a derivatives clearing organisation with the CFTC and as a clearing agency with the U.S. Securities and Exchange Commission. LCH Limited and LCH S.A. also hold licenses or authorisations in other jurisdictions in which they offer their services. More information is available at www.lseg.com.
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