Platforms · Software · Providers · Markets
On 3 November 2026, the US Commodity Futures Trading Commission said contracts tied to individual shares can trade on exchanges registered with the agency. Chairman Michael S. Selig announced the development on Tuesday, extending US perpetual futures beyond digital assets and into traditional securities.
The CFTC classified Equity Perps under Commission Regulation as security futures products. Those contracts come under the Commodity Exchange Act and US federal securities laws, with both the CFTC and the Securities and Exchange Commission involved in their regulatory oversight.
Earlier decisions opened the route
The agency had approved a Bitcoin perpetual futures contract earlier this year, the first of its kind on an exchange it regulates. In his inaugural remarks, Selig called on the CFTC to use its existing authority to bring perpetual derivatives into US markets, provided suitable safeguards were in place. He said Equity Perps could help participants manage risk and establish prices within the US regulatory system, while potentially reducing their dependence on offshore venues.
Joint rules set the framework
The CFMA provides the basis for the CFTC and SEC to oversee security futures together. The agencies also signed a memorandum of understanding earlier this year to strengthen cooperation. Selig said the framework addresses uncertainty around these products. SEC Chairman Paul S. Atkins had described security futures and equity perpetual futures as lacking a clear regulatory home. The announcement was first reported by Finance Magnates.
Milestones and missing contract data
| Reported milestone | Detail |
|---|---|
| Announcement | 3 November 2026 |
| Earlier Bitcoin contract | First Bitcoin perpetual futures contract approved earlier this year on a CFTC-regulated exchange |
| Stock-linked contracts | Permitted on CFTC-registered exchanges for the first time |
| Contract specifications | No contract size, expiry, use or launch date was provided |
What an operations team should check
For venue and brokerage teams, the regulatory classification is the immediate integration point. Operators should establish how Equity Perps will be identified in product records and mapped to the controls that apply to security futures, as well as how CFTC and SEC responsibilities are reflected in compliance workflows. The announcement does not set out individual contract terms or a launch schedule.
Risk and operations teams should ask which contract specifications will feed their pricing, exposure and reconciliation processes, and what reporting and surveillance changes will be needed. Until venues publish those details, firms cannot determine the operational impact on margin configuration, market data handling or post-trade workflows from this announcement alone.
