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CFTC’s Selig Says Perpetual Futures on Individual Stocks Can Now Trade in the US
Chairman Michael Selig said the contracts were deemed approved as security futures under joint CFTC and SEC oversight, though his statement named no exchange, stock or start date.
Dextape brief
The Commodity Futures Trading Commission said Tuesday that perpetual futures tied to individual stocks may now trade on U.S.-regulated exchanges. Chairman Michael Selig announced the change in a statement, extending a product first cleared for bitcoin in May. The contracts are to be offered on CFTC-registered exchanges that also hold notice registration with the Securities and Exchange Commission for security futures. The statement gave no exchange name, stock list or start date. The agency said the contracts were deemed approved under Regulation 40.3, placing them under commodities and securities law, and cited no Commission order. Coinbase has filed to list similar perps, and Kalshi and Bitnomial made September submissions, but Selig did not say whether those are the approved contracts. CME Group is suing the CFTC over the bitcoin approval.
Why it matters: It extends the CFTC's perpetual futures approach from crypto assets into traditional equities, a step that bears on where U.S. traders can access such products.
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Terms in this story
- Perpetual futures
- Futures with no expiry date, the most traded crypto derivative.
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