Overview

• The UK debuts GFO-X, its first regulated and centrally cleared platform for cryptocurrency derivatives, authorised by the FCA.
• GFO-X executed its inaugural institutional trade on May 13, 2025, between Virtu Financial and IMC, cleared by LCH’s DigitalAssetClear service.
• The platform initially offers bitcoin index futures and options, with plans to expand its product range in the future.
• Major banks, including ABN AMRO, Nomura, and Standard Chartered, are providing clearing services for transactions on GFO-X.
• This launch follows the FCA’s lifting of its 2020 ban on institutional crypto derivatives in March 2024, signaling broader institutional adoption and regulatory progress.