CFTC clears perpetual futures on stocks, bringing crypto trading model to Wall Street
Source: CoinDesk ·
From the source
CFTC Chair Michael Selig said the move gives U.S. traders a regulated alternative to “offshore, and often unregulated, venues.” The Commodity Futures Trading Commission (CFTC) has cleared the way for perpetual futures tied to individual stocks to trade on regulated U.S. exchanges for the first time, expanding Washington's push to bring crypto-style trading products onshore. CFTC Chairman Michael Selig said Tuesday the contracts, known as equity perps, were deemed approved under existing security futures rules. They will be subject to oversight by both the CFTC and Securities and Exchange Commission (SEC). “I believe that bringing these types of innovative products into our regulated markets ensures that American investors and traders can access these products within the protections of the CFTC’s proven regulatory framework, rather than being forced to turn to offshore, and often unregulated, venues,” Selig said in the statement. Perpetual futures, or perps, have become a major market…
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