SIX Group and LMAX Group Intend to Launch BTC and ETH Futures

LMAX, a cryptocurrency exchange focused on institutional investors, plans to launch Bitcoin and Ethereum settled futures in the third quarter of the year in partnership with Swiss stock exchange operator (SIX Group).

Instruments denominated in USD must be first approved by the FINMA.

Derivatives will reportedly be traded 23 hours five days a week. In the future, trading will be transferred to 24/7 mode, and the number of supported underlying assets will grow.

David Mercer, CEO of LMAX, has said:

“The solution closes a gap by meeting the needs of a rapidly growing number of institutional participants.”

Coinbase has announced it intends to develop a division focused on derivative products.