LMAX Group Partners with SIX to Launch 24/7 Traded Crypto Futures

LMAX Group, the leading operator of institutional exchanges for FX and cryptocurrency trading, in collaboration with Europe’s based Swiss financial services group, SIX is set to launch 24/7 traded crypto futures.

LMAX Cash-settled Crypto Futures

Although still delayed by regulatory approval, the launch has been scheduled to happen in the 3rd quarter of 2022. According to the announcement, LMAX’s cash-settled crypto-asset futures product will be traded 23 hours a day, five days a week during the early periods of the launch. However, the company unveiled plans to further extend full product roll out to a 24/7 trading period at a later date which is yet to be revealed.

Therefore, crypto enthusiasts are offered the privilege to trade USD-settled BTC and ETH futures provided by the combined efforts of prominent companies with confirmed expertise in the industry as concerns to further develop and expand trading infrastructures within the digital ecosystem continues to surge.

The CEO of LMAX David Mercer noted the significance of the new development to the crypto space in a statement that reads:

“The crypto futures market is three times bigger than spot and by offering access to deep institutional liquidity, we are providing a significant market entry opportunity as crypto and blockchain finance evolves.”

“This pioneering solution will close the gap, enabling round-the-clock crypto futures trading, seven days a week, meeting the needs of a rapidly growing number of institutional participants,” he added.

It appears that the partnering company is equally excited about the proposed development as Javier Hernani, the Head Securities Services of SIX made his contributions while acknowledging that the proposed launch will serve as an headway to the company’s progress.

“This is a major milestone for SIX from several perspectives. We are making substantial progress according to our digital asset clearing strategy and are expanding our portfolio of cleared asset classes. 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,” Hernani said.