NYSE owner takes steps to bring Hyperliquid perpetual futures to U.S.
Source: CoinDesk ·
From the source
The planned ICE[XYZ] venue would offer 24/7 perpetual futures on stocks, commodities and crypto, pending CFTC approval. ICE is investing in Trade[XYZ]. Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, is teaming up with Trade[XYZ], the largest builder of markets on decentralized exchange Hyperliquid, to bring perpetual futures to the U.S. The plan is subject to CFTC approval. Perpetual futures let traders bet on whether the price of an asset, such as a stock, commodity or currency, will rise or fall, without the contract ever expiring. They’re heavily traded in crypto, but mostly on offshore venues that U.S. investors can’t use. ICE and Trade[XYZ] plan to build a dedicated U.S. market with new exchange and clearing infrastructure, according to Bloomberg . Clearing is the back-end system that ensures trades settle. ICE is also making a strategic investment in Trade [XYZ], although terms weren’t disclosed. The venue, branded ICE[XYZ], would list…