SGX Prepares to Offer Crypto Perpetual Futures to US Institutions

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โดย Bloomberg·SGUS·Read original
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Singapore Exchange Ltd. is preparing to offer its cryptocurrency perpetual futures to US institutions, making it the first major traditional exchange to bring one of crypto's favorite trades into the mainstream. The exchange filed with the Commodity Futures Trading Commission last month to offer the contracts to US investors, and as a registered overseas exchange it can offer the products to US institutions if it receives no objection within 10 days. The move gives SGX access to a deeper pool of hedge funds, asset managers and proprietary trading firms after the exchange launched Bitcoin and Ether perpetual futures last November. SGX's contracts trade 22.5 hours a day, five days a week, with members required to post 35% margin and use fiat collateral, and the exchange does not use the automatic deleveraging mechanisms found on some crypto platforms. So far, liquidity has stayed overwhelmingly with crypto-native venues: the decentralized Hyperliquid platform handles roughly $80 billion to $100 billion a month in Bitcoin and Ether perps, while SGX has recorded about $6 billion across its perpetual futures since launch. In August, 29,655 Bitcoin perps and 6,758 Ether perps were traded on SGX, taking the combined number for the first eight months of the year to 353,825, according to exchange data.

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