CFTC clears perpetual futures on stocks for regulated US exchanges
CFTC opens US exchanges to stock-based perpetual futures
The Commodity Futures Trading Commission (CFTC), the US agency that oversees derivatives markets, has cleared the way for perpetual futures tied to individual stocks to trade on regulated US exchanges for the first time. CFTC Chairman Michael Selig announced the decision on Tuesday, November 3, 2026.
Perpetual futures, or "perps," let traders bet on an asset's price without owning it. Unlike traditional futures, they have no expiration date and often use leverage, which magnifies both gains and losses. They are a staple of crypto trading but were not available for stocks on registered US exchanges until now.
Key points
- The CFTC deemed equity perpetual futures approved under existing security futures rules, according to Selig's statement.
- The contracts fall under joint oversight by the CFTC and the Securities and Exchange Commission (SEC).
- Selig said the move gives US traders a regulated alternative to "offshore, and often unregulated, venues."
- The statement did not name which exchanges will offer the contracts or which stocks will be available at launch.
What the CFTC chair's statement says
In the statement, Selig said bringing these products into regulated markets means American investors and traders can access them "within the protections of the CFTC's proven regulatory framework, rather than being forced to turn to offshore, and often unregulated, venues."
Equity perps have faced regulatory hurdles because stock-based derivatives sit under both securities and commodities laws. The new contracts use a framework from the Commodity Futures Modernization Act of 2000, which provides for joint SEC and CFTC oversight. The two agencies also agreed to coordinate more closely on products that cross their jurisdictions.
Why perps reached Wall Street
The Trump administration has made bringing perps markets under US oversight a priority. Earlier in 2026, the CFTC approved the first bitcoin perpetual futures contract on a regulated US exchange. In August, President Donald Trump said at a White House meeting that the CFTC was working to bring Hyperliquid — a major decentralized platform for leveraged perps trading on blockchain rails — into the US under federal rules.
Onchain perps have also drawn Wall Street interest. Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, recently invested in tradeXYZ, a builder of perpetual futures markets on Hyperliquid. Perps recorded more than $630 billion in trading volume over the past month, according to DeFiLlama data.
What is still unclear
Selig's statement did not identify which exchanges would offer equity perps or which stocks would be available at launch, so the practical launch details are not yet confirmed.
Why it matters for traders
This is the first time stock-based perpetual futures can trade on registered US exchanges, and they will sit under the CFTC's regulatory framework with SEC involvement. It extends Washington's effort to move crypto-style trading products from offshore platforms into US-regulated markets.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.