CFTC Issues Policy Statement on Perpetual Contracts Listing
CFTC issued a policy statement on listing perpetual contracts alongside an order permitting a DCM-listed bitcoin perpetual futures contract.
The CFTC has formally opened the path for perpetual futures on US designated contract markets, starting with a bitcoin spot-referenced contract. The policy clarifies regulatory expectations for these structurally distinct, funding-rate-driven products.
Introduces a new class of US-regulated crypto derivatives, creating opportunities and novel margin, funding, and conduct risks for intermediaries.
Action Required
Assess product strategy, risk models, and customer disclosures for perpetual contracts on US DCMs.
Authorizing perpetual futures on DCMs marks a significant structural change in US derivatives markets.
Evaluate readiness to clear, margin, and surveil perpetual futures; update risk limits, customer suitability, and disclosures aligned with CFTC policy statement.
“The CFTC issued a policy statement on perpetual contracts contemporaneously with an order permitting a DCM to list a bitcoin spot-referenced perpetual as a futures contract, addressing unique characteristics of such instruments.”
Published: 2026-06-03