Regulators approve single-stock perpetual contracts under existing security futures rules, opening a new venue for leveraged equity exposure.
MoneyTurkey Derivatives Desk | 3 November 2026
Key points
- CFTC approved equity perpetual futures for trading on US exchanges under joint CFTC-SEC oversight.
- Perpetual futures recorded more than $630 billion in trading volume over the past month, according to DeFiLlama data.
The Commodity Futures Trading Commission cleared the first perpetual futures contracts tied to individual US stocks for trading on regulated domestic exchanges. The decision allows exchanges to list contracts with no expiration date and typical leverage, previously available only on offshore platforms. Chairman Michael Selig said the move gives American traders access through US-regulated venues instead of offshore venues that operate outside US protections. The contracts fall under joint CFTC and SEC oversight and must meet requirements under both commodities and federal securities laws.
What happened
CFTC Chairman Michael Selig announced Tuesday that equity perpetual futures, also known as equity perps, have been approved under existing security futures rules. The contracts will be subject to requirements under both commodities and federal securities laws.
The decision follows the earlier approval of the first bitcoin perpetual futures contract on a regulated US exchange. Selig said the move would give American traders access to the products through regulated domestic markets instead of relying on offshore platforms, many of which operate outside US regulatory protections.
NYSE parent ICE and OKX plan to launch a platform for tokenized US stocks that would allow investors to trade shares around the clock using blockchain infrastructure and stablecoins. The initiative has faced pushback from major companies, including Nvidia, Microsoft, Alphabet and JPMorgan Chase.
What the futures and options market is pricing
Perpetual futures allow traders to speculate on an asset’s price without owning it. Unlike conventional futures contracts, they have no expiration date and typically use leverage, allowing traders to take larger positions while increasing their exposure to losses.
Perpetual futures recorded more than $630 billion in trading volume over the past month, according to DeFiLlama data. The products have become a major part of cryptocurrency trading, particularly on offshore exchanges and decentralized platforms such as Hyperliquid.
Why it matters
The approval marks an expansion of the derivatives market beyond cryptocurrencies and into traditional equities. Traders will be able to access leveraged equity exposure through regulated US venues rather than offshore platforms.
The contracts will fall under the joint oversight of the CFTC and the Securities and Exchange Commission, subject to requirements under both commodities and federal securities laws. No launch date has been announced.
What to watch
- Which exchanges file to list equity perpetual futures and which stocks they select
- Margin and position-limit rules that exchanges propose for the new contracts
- How existing single-stock futures and equity options desks adjust pricing and risk models
- Any SEC guidance on margin, custody and settlement for equity perps
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For information only. Not investment advice.
Sources
- Yahoo Finance: https://finance.yahoo.com/markets/options/articles/cftc-clears-first-stock-perpetual-164300117.html
- CoinDesk: https://www.coindesk.com/policy/2026/11/03/cftc-clears-perpetual-futures-on-stocks-bringing-crypto-trading-model-to-wall-street
- The Block: https://www.theblock.co/news/regulation/2026-11-03-cftc-approves-individual-stock-perpetual-futures-trading-in-us-for-first-time-432422
- Northeast Times: https://northeasttimes.com/2026/11/03/cftc-says-stock-perpetual-futures-are-approved-for-us-trading-with-no-launch/
- MarketWatch: https://www.marketwatch.com/story/u-s-clears-path-for-first-regulated-equity-perpetual-futures-6bb35905
- The Crypto Times: https://www.cryptotimes.io/2026/11/03/cftc-clears-path-for-us-equity-perpetual-futures-trading/
