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CFTC clears perpetual futures on stocks, bringing crypto trading model to Wall Street
Developing story first seen 12 hours ago
On 3 November 2026, the US Commodity Futures Trading Commission said perpetual futures linked to individual shares could begin trading on eligible US exchanges for the first time. The contracts have no fixed expiry date and let traders take a position on a share’s price without owning it. CFTC chairman Michael Selig said the contracts had been deemed approved under existing rules for security futures. Eligible venues must also be registered with the Securities and Exchange Commission, and the products fall under both agencies’ oversight.
The decision extends a trading format popular in cryptocurrency markets into shares, following the CFTC’s approval of a bitcoin perpetual futures contract earlier this year. Selig said regulated US venues could offer traders an alternative to offshore platforms. The announcement did not identify which exchanges would list the new contracts, which shares they would cover or when trading would actually start. Like other leveraged derivatives, perpetual futures can magnify losses as well as gains.
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In short
- Single-share perpetual futures can now trade on eligible US exchanges.
- The contracts fall under joint CFTC and SEC oversight.
- No exchange, share list or trading start date was announced.
How this story developed
- 43 minutes ago On 3 November 2026, the US Commodity Futures Trading Commission said perpetual futures linked to individual shares could begin trading on eligible US exchanges for the first time.
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The strongest fair case each way — we don't pick a winner.
The case for
Allowing perpetual futures on shares through eligible, regulated US exchanges could give traders a convenient way to take positions without owning the underlying stock, while bringing activity that might otherwise occur offshore under US oversight. Supporters may also see the decision as extending familiar derivatives markets and offering more choice in how investors manage exposure or risk.
The case against
Critics may argue that share-linked perpetual futures could encourage highly leveraged speculation, exposing traders to amplified losses without the ownership rights that come with shares. They may also question whether existing rules and dual-agency oversight will adequately manage the risks of a novel product, particularly before its listings and practical safeguards are clear.
Coverage · 3 sources
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