CFTC clears perpetual futures on stocks for US exchanges
From November 3, perpetual futures (perps) on single stocks can trade on regulated US exchanges. Until now this product lived mostly on offshore and crypto venues.
Em vigor desde: 3 de novembro de 2026
Fonte primária: 3 de novembro de 2026
Publicado aqui: 3 de novembro de 2026 às 16:56 UTC
Ler: 2 min
O que aconteceu
On November 3 CFTC Chairman Michael Selig said perpetual futures on individual stocks (Equity Perps) can trade for the first time on CFTC-registered exchanges. The contracts are deemed approved as security futures. Two regulators oversee them: the CFTC and the SEC.
Por que importa para você
Perps are futures with no expiry date, often traded with leverage. They are the main product on crypto exchanges: DefiLlama data cited by CoinDesk show more than $630 billion in perps volume over the past month. Now a similar tool on stocks will sit inside the regulated US market. For traders that is a choice between offshore venues and a supervised exchange.
O que conferir e observar
The statement does not say which exchanges will list equity perps or on which stocks. Watch for exchange announcements. Leverage multiplies both gains and losses. This is an overview, not advice.
Onde está acontecendo
LIVEArraste para girar. Pontos verdes: a bolsa está negociando agora (horário normal, sem contar feriados). Sombra: onde agora é noite. Fronteiras: Natural Earth, terremotos: USGS. Ideia das camadas: God’s Eye View (MIT).
What happened. The chair of the US Commodity Futures Trading Commission (CFTC), Michael Selig, published a statement: from November 3, perpetual futures on individual stocks can trade on CFTC-registered exchanges. These are venues that are also notice-registered with the SEC as securities exchanges for security futures.
How it works legally. The contracts were deemed approved under CFTC Regulation 40.3 as security futures products under the Commodity Futures Modernization Act of 2000. So the Commodity Exchange Act, federal securities laws and both regulators' rules all apply. In March 2026 the CFTC and SEC signed a memorandum of understanding on working together.
What came before. In May 2026 the CFTC approved the first true bitcoin perpetual futures contract on a regulated exchange: Kalshi's BTCPERP. The new step extends the same instrument from crypto to ordinary stocks.
Why markets care. Perps were made popular by crypto exchanges and onchain venues like Hyperliquid. CoinDesk notes that NYSE owner ICE recently invested in tradeXYZ, which builds perps markets on Hyperliquid. Selig says the aim is to keep US traders from turning to offshore and often unregulated venues.
What is still missing. The statement names no exchanges, no list of stocks, no leverage limits and no launch dates on specific venues. It also does not say whether traders outside the US will get access.
What it means for you. If you trade stock perps on an offshore or crypto venue, a regulated US alternative is coming. Leveraged perps can wipe out a position fast, and funding payments are charged regularly. This is an overview, not advice.
Fatos confirmados
- From November 3, 2026, perpetual futures on individual equity securities (Equity Perps) can trade for the first time on CFTC-registered exchanges.[1][2]
- The contracts were deemed approved under CFTC Regulation 40.3 as security futures products under the CFMA of 2000.[1]
- They are subject to the Commodity Exchange Act, federal securities laws and the frameworks of both the CFTC and the SEC.[1]
- The exchanges in question are designated contract markets also notice-registered with the SEC as national securities exchanges for security futures.[1]
- In May 2026 the CFTC approved Kalshi's BTCPERP bitcoin perpetual futures contract.[1]
- The CFTC and SEC signed a memorandum of understanding on March 11, 2026.[1]
- Perps recorded more than $630 billion in trading volume over the past month, according to DefiLlama.[2]
- The statement did not name the exchanges or the stocks available at launch.[2]
Implicações
- ConfirmadoPerpetual futures on single stocks are now a lawful product on regulated US exchanges.
- Nossa leituraSome stock perps trading may move from offshore and crypto venues to US exchanges. That is our reading.
- Nossa leituraCompetition for traders between crypto exchanges and traditional exchanges is likely to grow. That is our reading.
Ainda não se sabe
- Which exchanges will list equity perps first
- Which stocks will get contracts and with what leverage
- Whether non-US traders will have access
Quem é afetado
USA, World. Futures and perps traders, stock investors, crypto exchange users
Fontes
- U.S. Commodity Futures Trading Commission: Statement on Equity Perpetual Futures (Chairman Michael S. Selig) 3 de novembro de 2026 · oficial
- CoinDesk: CFTC clears perpetual futures on stocks, bringing crypto trading model to Wall Street 3 de novembro de 2026 · mídia
Capa: Gráfico de Freekonomist, uma imagem simbólica, não uma foto do evento. Este é um explicador de notícia, não recomendação financeira.
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