A group backed by Cboe and Citadel Securities sued the CFTC on the same day approval of perpetual futures on US stocks was announced. The group argues in a court filing that the contracts are security-based swaps and therefore fall under SEC jurisdiction.
Why it matters
The dispute turns on which regulator has authority over the products: the CFTC or the SEC. That distinction could shape how US stock perpetual futures are regulated.
Market impact
The lawsuit challenges the regulatory basis for the announced approval and puts the products' path in court. The filing's outcome may clarify the division of oversight, but the seed provides no details on a hearing schedule or the group's requested relief.
Frequently asked questions
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Who filed the lawsuit against the CFTC?
A group backed by Cboe and Citadel Securities sued the CFTC.
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What products are being challenged?
The lawsuit concerns perpetual futures on US stocks.
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What is the group's argument about regulatory authority?
The group argues that the contracts are security-based swaps and fall under SEC jurisdiction.
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When was the lawsuit filed relative to the approval announcement?
The suit was filed on the same day approval of the stock perpetual futures was announced.
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Why does the SEC-CFTC distinction matter in this case?
The dispute centers on which regulator has authority over the products, a question that could shape their US regulatory path.
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