Topic
The legal framework and agency oversight—mainly the CFTC and SEC—governing US futures, options, swaps and emerging products like perpetual futures.
CFTC's October 5 advance notice seeks comment on a federally registered crypto venue for retail trades made with leverage, margin or financing. Chair Michael Selig says registration is voluntary and a mandate over every spot trade needs Congress.
Reality
CFTC staff will let Coinbase Derivatives and other exchanges drop expiry dates from broad-based security index futures under relief that lapses October 20. Coinbase's contracts already priced like perpetuals, so the letter mainly rewrites their legal terms, and the open question is whether any other exchange uses it.
Reality
CFTC staff let U.S. exchanges remove expiry dates from perpetual-style index futures on October 3, with five days' notice to holders of open positions. Contracts on other assets are excluded, so this is a narrow step toward bringing onshore a product that has mostly traded offshore.
Reality
OG.com Markets asked the CFTC to approve cash-settled perpetual futures on single US stocks, trading 24 hours a day on weekdays at a 15.05% minimum margin. At about 6 times leverage they would sell the trade margin accounts now offer, so brokers will pick the winning venue.
Reality
Two filings dated August 18 would import the structure behind an estimated 93% of crypto derivatives volume into equities and metals. Neither is approved, and the book is still small.
Reality
Kalshi Klear asked the CFTC on Sept. 22 to set initial margin on economic, political and commercial event contracts from modeled price moves, backed by volatility floors and concentration charges, with institutions the only participants admitted.
Perspective Coverage
5 publishersReality
The company says nearly $5 billion of roughly $5,500 Ether perpetual trades came from programs that pay market makers to post resting orders, and its evidence is that the maker lost money to takers who kept winning.
Reality