WuBlockchain
Intercontinental Exchange, the parent of the New York Stock Exchange, plans to partner with Trade.xyz to launch a US venue for regulated perpetual futures. The platform is slated to use Hyperliquid infrastructure, with dedicated clearing and KYC and AML controls.
Why it matters
The planned products would link perpetual futures to equities, indexes, commodities and foreign exchange, extending a derivatives format common in crypto markets to traditional assets in the United States. The launch remains subject to regulatory approval.
ICE will take an equity stake in Trade.xyz, though the terms have not been disclosed. Trade.xyz has previously launched perpetual contracts tied to traditional assets, including crude oil and equity benchmarks, on Hyperliquid.
Market impact
The partnership puts a major traditional exchange operator alongside a venue built on crypto infrastructure. Its progress will depend on regulatory approval and the proposed clearing and compliance arrangements. The announcement does not specify a launch date.
Frequently asked questions
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What assets would the planned US perpetual futures track?
The planned contracts would be linked to equities, indexes, commodities and foreign exchange.
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What role would Hyperliquid play in the proposed venue?
The venue is slated to run on Hyperliquid infrastructure, with dedicated clearing and KYC and AML compliance frameworks.
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Does the proposed perpetual futures launch have regulatory approval?
The launch is pending regulatory approval.
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What will ICE receive under its partnership with Trade.xyz?
ICE will take an equity stake in Trade.xyz. The terms have not been disclosed.
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Has Trade.xyz previously offered traditional-asset perpetual contracts?
Yes. Trade.xyz has launched contracts tied to crude oil and equity benchmarks on Hyperliquid.
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