Bloomberg: crypto derivatives trading platform GFO-X expected to launch in Q1 2025
Big financial firms such as Standard Chartered Bank and Virtu Financial Inc. are preparing to join a new London crypto-derivatives trading platform as a market rally boosts the appeal of digital currencies, Bloomberg reports. Trading platform Global Futures and Options Ltd. or GFO-X has signed up ABN Amro Clearing and market maker IMC and expects to launch in the first quarter of next year, the company said Monday.GFO-X is backed by MG Investments, the asset-management arm of pensions giant MG Plc. GFO-X, which will handle trading in bitcoin index futures and options, was initially scheduled to go live by the end of 2023 but failed to launch on schedule due to two delays. arnab Sen, chief executive officer of GFO-X, said that there has been a renewed surge of interest in the platform from financial firms due to the cryptocurrency market rally that was once again triggered by the election of Donald Trump to the White House.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
The Bank of Japan's interest rate hike still fails to impress the market! Hedge funds slash yen long positions by nearly 80%, while dollar long positions increase significantly
After the Bank of Japan failed to deliver a clear enough signal of further interest rate hikes to the market, hedge funds have significantly reduced their bullish bets on the yen.
US Treasury yields continue to rise! Cleveland Federal Reserve President: Government and AI compete for funds, fueling rate hike expectations
Cleveland Federal Reserve President Loretta Mester stated on Friday that the recent sustained rise in long-term U.S. Treasury yields is the result of multiple factors working together.
Crypto prices
More
