SIX partners with LMAX Group to launch crypto futures

In cooperation with the London-based LMAX Group, SIX is launching crypto futures that can be traded round the clock. According to a press release, the roll-out process will be implemented across two stages: Pending regulatory approval, centrally cleared Bitcoin and Ethereum futures traded and settled in US dollars are expected to be launched in the third quarter of the year. These will be tradable 5 days a week, 23 hours a day. In a second step, 24/7 trading is to be rolled out for the entire new product range.

The LMAX Group regards the possibility of offering round-the-clock trading as a “pioneering” stepping stone in the direction of full, open market access that will allow the capital markets to function more efficiently while additionally ushering in an era of increased global trading activity. With the partnership set to offer “deep institutional liquidity”, the LMAX Group is providing “a significant market entry opportunity as crypto and blockchain finance evolves”, explains David Mercer, CEO of LMAX Group, in the press release.

Javier Hernani, Head Securities Services at SIX, describes the partnership with LMAX as a milestone. In conjunction with the experts and infrastructure of the Spanish Stock Exchange, the aim is to create a “strong SIX Clearing services powerhouse that will benefit all our customers”, Hernani states. SIX acquired Bolsas y Mercados Españoles, the company which coordinates organizational aspects of the Spanish stock exchanges, in mid-2020.