LCH plans for Q4 bitcoin derivatives clearing launch
CCP will run segregated default fund; does not rule out following up with ether-based contracts
LCH’s Paris-based clearing house is preparing to start clearing bitcoin futures and options in the fourth quarter of this year, setting up a competitive clash with CME, which currently dominates the space.
If the bitcoin launch is successful, LCH SA business head Frank Soussan says the central counterparty (CCP) would consider clearing similar contracts based on the second largest cryptocurrency – ether – provided the market wanted it, and the proposed product met all internal governance
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