British clearing house group LCH (originally known as London Clearing House) has agreed to offer services for bitcoin (EXANTE: Bitcoin) index futures and options contracts traded on GFO-X, the UK's licensed trading venue dedicated to crypto derivatives.
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In a blog announcement published on Thursday, the clearinghouse arm of the London Stock Exchange Group added the move is still subject to regulatory approval. The bitcoin index futures and options contracts will be cash-settled and will be based on the GFO-X/Coin Metrics Bitcoin Reference Rate (GCBRR).
Frank Soussan, Head of LCH DigitalAssetClear (which will basically offer clearing services), said the services are expected to meet increasing demand among institutional market participants "looking for access within a regulated environment they are familiar with."
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