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
UK 10-Year Bonds Auction Today: May Hammer at 5.41%, Auction Yield Could Hit Highest Level Since 1999
The yield on UK 10-year government bonds has reached 5.41%, the highest level in 19 years, and the £4.25 billion auction cost is the highest since 1999.
Worse than 2008? Outside the AI bubble, the new fund supported by "The Big Short" Michael Burry targets risks in private credit.
While Wall Street is busy searching for signs of a bubble in AI stocks, a new hedge fund connected to 'Big Short' Michael Burry is turning its attention to another potentially more dangerous area—private credit.
Tesla approved to launch autonomous driving software in Croatia
The euro is approaching its yearly low against the US dollar: hit by energy shocks and European political risks, it has fallen about 2% this month.
The resilience of the euro against the U.S. dollar is being tested by energy prices and political risks.
Crypto prices
More
