CFTC Clears Perpetual Futures on Single Stocks in US

CFTC Chairman Michael Selig said on Nov. 3 that perpetual futures on individual stocks can begin trading for the first time on CFTC-registered exchanges. The venue must also be registered with the SEC as a national securities exchange for security futures products. No launch date or list of exchanges was given.

Details

According to CFTC release 9319⁠–⁠26, the contracts, which the agency calls "Equity Perps," build on the Commodity Futures Modernization Act of 2000 and the CFTC-SEC Memorandum of Understanding. Selig said regulatory uncertainty between the two agencies left such products stranded in what SEC Chairman Paul Atkins has described as a regulatory "no man's land."

Selig said bringing these products into regulated markets lets US traders use them within CFTC protections rather than turning to offshore, often unregulated venues. The Block ties the move to growing demand for round-the-clock trading, while Crypto Briefing notes that the announcement names no specific exchanges.

What this means for the market

No venue has announced a listing yet, so the decision sets a legal path rather than a live product. Stock perpetuals already trade on crypto exchanges and perp DEXs, including Hyperliquid; a regulated US option could draw some of that demand onshore. For a related development, see our story on ICE and Trade[XYZ]. Live bitcoin price is in the daily brief.