Monday, July 22, 2024

LMAX Group and SIX set to launch 24/7 traded crypto futures

LMAX Group has partnered with SIX and together they are working towards introducing 24/7 traded crypto futures. The launch has been delayed by regulatory approval. It may come about in Q3 of 2022.

Initially, LMAX’s cash-settled crypto-asset futures product will be traded 23-hours a day, five days a week. The leading operator of institutional exchanges has plans to further extend full product roll out to a 24/7 trading period.

David Mercer, the CEO of LMAX, says the crypto futures market is three times bigger than the spot. LMAX is providing a significant market entry opportunity by offering access to deep institutional liquidity. Mercer highlighted that this pioneering solution will close the gap. It will enable round-the-clock crypto futures trading, seven days a week. Moreover, the solution will meet the needs of a rapidly growing number of institutional participants.

Javier Hernani, the Head Securities Services of SIX, acknowledged that the launch will serve as a headway to the company’s progress. He said SIX is making substantial progress according to the company’s digital asset clearing strategy. It is expanding its portfolio of cleared asset classes. SIX also has the opportunity to bring its Swiss and Spanish infrastructure strengths together through a diverse project team.

The company is creating a strong SIX Clearing services powerhouse for the benefit of its customers.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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