Upcoming US stock futures are coming too—without expiration.
On 9/25, OG.com submitted rule proposals to the CFTC to launch perpetual contracts on single stocks: cash-settled, with no expiration date, trading 24 hours a day, 5 days a week.
OG.com is a prediction markets and derivatives platform spun out from Crypto.com, with a valuation of $5 billion; Robinhood has also invested.
A week earlier, on 9/18, Coinbase, the parent companies of Kraken, and Kalshi also filed similar applications. Since May this year, the CFTC has been reviewing perpetual products one by one.
Offshore, Binance already has US stock perps.
Perpetual contracts were originally an invention from the crypto world. Now, US exchanges are lining up to bring them to US stocks. The product formats from crypto are being exported back to traditional markets in reverse.
If approved, what will be hit first: brokers’ fractional-share trading, or the options market?
On 9/25, OG.com submitted rule proposals to the CFTC to launch perpetual contracts on single stocks: cash-settled, with no expiration date, trading 24 hours a day, 5 days a week.
OG.com is a prediction markets and derivatives platform spun out from Crypto.com, with a valuation of $5 billion; Robinhood has also invested.
A week earlier, on 9/18, Coinbase, the parent companies of Kraken, and Kalshi also filed similar applications. Since May this year, the CFTC has been reviewing perpetual products one by one.
Offshore, Binance already has US stock perps.
Perpetual contracts were originally an invention from the crypto world. Now, US exchanges are lining up to bring them to US stocks. The product formats from crypto are being exported back to traditional markets in reverse.
If approved, what will be hit first: brokers’ fractional-share trading, or the options market?