LMAX Group and SIX Partner to Launch Crypto Futures

LMAX Group, an operator of institutional forex and cryptocurrency trading platforms, announced on Thursday its partnership with major Swiss stock exchange, SIX for the launch of cash-settled and centrally cleared crypto-asset futures.

Initially, the two partners will launch centrally cleared USD settled Bitcoin and Ethereum futures that can be traded 23 hours a day for five days a week. But, they have plans to make the trading available round the clock with the full product rollout.

Though they are expecting to launch the new crypto futures sometime in the third quarter of this year, it is still pending regulatory approval.

“As institutional adoption of crypto trading continues to increase, we will complete our offering by adding crypto futures to our portfolio through this partnership,” said David Mercer, the CEO at LMAX Group.

The companies are optimistic that there will be a massive demand for the upcoming crypto products within the existing institutional client base of LMAX Group.

Additionally, Mercer pointed out that the crypto futures market is three times bigger than the spot market, and its products will create a new crypto market entry opportunity with the availability of institutional liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term.

“Our global institutional client base, including 35 top tier banks already trading with LMAX Group, will benefit from the strength of our proven and tested exchange trading technology, combined with the secure clearing connectivity of SIX,” Mercer added.

SIX’s Big Crypto Bet

“We are making substantial progress according to our digital asset clearing Clearing Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Read this Term strategy and are expanding our portfolio of cleared asset classes,” said Javier Hernani, the Head Securities Services at SIX.

“At the same time, we have the opportunity to bring our Swiss and Spanish infrastructure strengths together by having a diverse project team with experts from both sides. We are creating a strong SIX Clearing services powerhouse that will benefit all our customers. We are excited to partner with LMAX Group and be part of this ground-breaking initiative.”