The U.S. Commodity Futures Trading Commission (CFTC) said that perpetual futures linked to individual stocks can now be traded on regulated U.S. exchanges for the first time. CFTC Chair Michael Selig said Tuesday that the contracts are deemed approved under CFTC Rule 40.3. Eligible exchanges must be registered with both the CFTC and the U.S. Securities and Exchange Commission to trade security futures products. Selig did not say which exchanges would offer the contracts or when trading would begin. The Chicago Mercantile Exchange, part of CME Group, has sued over the CFTC’s approval of cryptocurrency perpetual futures, arguing that the contracts should be regulated as swaps rather than futures.