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CFTC Opens U.S. Stock Market to Equity Perpetual Futures
The CFTC has cleared perpetual futures on individual stocks to trade on dual-registered U.S. exchanges for the first time. This post CFTC Opens U.
Dextape brief
The Commodity Futures Trading Commission announced Tuesday that perpetual futures tied to single stocks can now list on U.S.-regulated exchanges. Chairman Michael S. Selig said in a statement that these contracts, which he calls Equity Perps, count as approved under the agency's rule for security futures. Eligible venues need CFTC designated contract market status and an SEC notice registration. Details such as specific exchanges, contracts and launch dates are expected from the exchanges themselves. Selig said this gives Americans a regulated option instead of offshore platforms he called often unregulated. The move follows the May approval of Kalshi's bitcoin perpetual and comes five days after a $6.3 billion Binance hack that TRM Labs and Chainalysis tie to North Korea. CME Group sued over the Kalshi decision, and that case is pending.
Why it matters: It opens a route for U.S.-regulated venues into single-stock perpetuals, a structure that has mostly traded outside U.S. jurisdiction.
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Terms in this story
- Perpetual futures
- Futures with no expiry date, the most traded crypto derivative.
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