CFTC Approves Equity Perpetual Futures for US Trading on Dually Registered Exchanges

Perpetual futures contracts on individual equity securities can begin trading on US-regulated exchanges for the first time, Commodity Futures Trading Commission Chairman Michael S. Selig announced on Nov. 3, 2026 ¹.

The authorization applies specifically to designated contract markets that maintain dual registration with the Securities and Exchange Commission as notice-registered national securities exchanges permitted to list security futures products ¹. Chairman Selig noted that the deployment of single-stock perpetual futures offers domestic traders tools for risk management and price discovery inside federal regulatory guardrails, reducing reliance on unregulated foreign platforms ¹.

Interagency Coordination

The initiative relies structurally on the Commodity Futures Modernization Act of 2000 and an interagency memorandum of understanding between the CFTC and SEC ¹. Selig cited SEC Chairman Paul S. Atkins' characterization of prior regulatory ambiguity as a "no man's land" created by jurisdictional friction between the twin market regulators ¹. Selig stated that both agencies are now coordinating to provide formal listing paths for novel instruments rather than letting product rollouts stall during interagency disputes ¹.

The policy shift follows sustained industry interest in bridging decentralized trading mechanisms with established exchange architecture, as seen in efforts such as ICE's backing of Trade.xyz to launch Hyperliquid perpetual contracts in the US. Selig had earlier addressed jurisdictional and infrastructure friction during an address detailing market structure gaps in crypto derivatives. At the time of writing, the broader digital asset market was trading under subdued conditions, with Bitcoin priced at $77,109 and crypto market sentiment registering a Fear & Greed index reading of 26.