OG.com Markets is seeking US regulatory approval to offer perpetual futures tied to individual stocks, as trading platforms push to bring popular derivatives products to US equity markets.
on thursday Filing With the Commodity Futures Trading Commission (CFTC), OG.com proposed new rules that would allow it to list cash-settled single-stock futures that never expire and can trade 24 hours a day, five days a week.
OG.com recently spun out of crypto exchange Crypto.com as an independent prediction market and derivatives platform valued at $5 billion. At the time, CEO Chris Marszalek said the platform planned to expand beyond the prediction market into futures and perpetual contracts.
Shortly after the spin-off, Robinhood took an equity stake in OG.com as part of a multi-year deal to use its CFTC-regulated derivatives exchange and clearinghouse for prediction markets.
Unlike traditional futures contracts, perpetual futures, or “perps,” have no expiration date, allowing traders to maintain exposure without periodically entering into new contracts. The product was leading Crypto By BitMEX in 2016.
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Perpetual futures push extends to US stocks
Crypto trading platforms and prediction markets are increasingly looking to bring one of the digital asset markets’ most popular derivatives products to US stocks, with OG.com joining a growing group seeking regulatory approval.
On September 18, Coinbase, Kraken’s parent Payword through its bitnomial exchange, and prediction market Kalshi all filed to offer perpetual futures tied to individual US stocks.
The filings come after US regulators, including the Securities and Exchange Commission (SEC) and CFTC, pushed ahead with the crypto initiative despite the Senate’s failure to advance the Clarity Act on September 15.
Source: Paul Atkins
Just days after the vote, the SEC cleared limited onchain trading of tokenized US stocks under its innovation exemption, while the CFTC extended regulatory relief to software providers connecting users to regulated derivatives platforms, including offering perpetual contracts.
The CFTC already started laying the regulatory groundwork for Perpetual Futures a few months ago.
Agency in May established Case-by-case review process for perpetual contracts and allowed Kalshi’s bitcoin perpetual futures product followed tentatively in June relief Allows certain registered exchanges to convert existing crypto futures into contracts without expiration dates.
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