The United States Commodity Futures Trading Commission (CFTC) announced this Tuesday (3) that perpetual futures contracts tied to individual stocks can begin trading on regulated markets in the country. The measure covers only exchanges that hold the registrations required by both the CFTC and the United States Securities and Exchange Commission (SEC).
The announcement was made by Michael S. Selig, chairman of the CFTC, and represents the extension of an instrument popular in the cryptocurrency market to traditional stock derivatives. The contracts, known as equity perpetual futures or equity perps, allow trading exposure to a stock's price without a fixed expiration date, unlike conventional futures contracts.
According to Selig, the initiative seeks to allow US market participants to use these instruments within the United States regulatory framework, instead of resorting to foreign platforms that may operate without equivalent supervision.
Which markets can offer the contracts
The authorization is restricted to designated contract markets (DCMs) by the CFTC that are also registered with the SEC as national exchanges authorized to trade futures on securities.
In the official statement, Selig clarified that the contracts were considered approved by the CFTC under regulation 40.3, as futures products on securities. Therefore, they remain subject to the requirements of US derivatives and securities law, under the supervision of both agencies.
The chairman also linked the decision to the regulatory rapprochement between the CFTC and the SEC, which signed a memorandum of understanding in March 2026 to strengthen institutional coordination.
The regulatory possibility of trading does not mean immediate commercial availability. The statement does not confirm that any exchange has already started trading these contracts, nor does it establish unrestricted access for retail investors.
The equity perps are derivative instruments. Trading them allows exposure to the price fluctuations of the stocks used as reference, but does not represent the direct purchase of those securities.
