The CFTC has approved single-stock perpetual futures for trading on regulated U.S. exchanges. The funding-rate and no-expiry mechanism behind perpetual contracts was first proven in crypto markets, and has now been brought to U.S. stocks.

Traditional stock derivatives have expiration dates, so positions need to be rolled over; perpetuals don’t, with funding rates automatically balancing long and short positions. For people used to trading crypto, this is a familiar tool; for longtime U.S. stock traders, it’s something new.

The line between stock and crypto derivatives is blurring, but whether the regulatory framework can keep pace with product innovation is another matter.

Watch one thing: how the underlying assets and funding rates for the first contracts are designed. That will determine whether they meet real demand or are just a concept.

#交易 #Cryptocurrency