Financial Services partner Carolyn Jackson was quoted in Futures & Options World regarding the Chicago Mercantile Exchange's recent announcement on a benchmark price for bitcoin. Carolyn stated, "It is a classic lifecycle event for a new asset class to develop a viable, respected price benchmark. These initiatives will give necessary pricing certainty to develop new products." She also noted the new price benchmark could make digital asset trading more accessible to the institutional investor, stating, "Now there are many steps to be able to trade in Bitcoin. Now investors can enter into it as a derivative without the physical complications of dealing directly in bitcoin to gain exposure to that asset class and possibly diversify their portfolio." In regards to Europe, Carolyn added, "The UK has been a more favorable regulatory environment for bitcoin than the US, for example, so there is nothing to prohibit cross-border derivative transactions in bitcoin in principle. Although the UK Treasury and the Financial Conduct Authority may now determine to accelerate their thinking on the regulation of bitcoin." ("Bitcoin Set for the Mainstream?," May 12, 2016)