Equity perpetual futures can begin trading on U.S. CFTC-registered exchanges for the first time on November 3, 2026 , extending the instrument beyond digital commodities into individual stocks. CFTC Chairman Michael S. Selig said the contracts, known as Equity Perps, will operate under both CFTC and SEC oversight.
Key takeaways
Equity Perps now have a route to U.S. regulated exchange trading.
The contracts fall under both commodity and securities laws.
Selig linked the approval to regulated access for hedging and price discovery.
Equity perpetual futures gain a U.S. trading route
The permission covers contracts on individual equity securities traded on designated contract markets registered with the Commodity Futures Trading Commission. Those venues must also hold SEC registration as notice-registered national securities exchanges for security futures trading.
That dual exchange registration is part of the framework described in Selig’s statement, rather than permission for equity perpetual futures to trade on any U.S. venue.
Selig said the expansion gives U.S. participants access to perpetual contracts for risk management and price discovery , consistent with applicable law. He framed the move as extending an instrument already approved for bitcoin into traditional securities markets.
Approval puts the contracts under two regulators
Under Commission Regulation 40.3 , the CFTC gave its approval to Equity Perps, treating them as security futures products in line with the Commodity Futures Modernization Act of 2000. That classification brings the contracts within both agencies’ regulatory frameworks.
The applicable rules include the Commodity Exchange Act alongside U.S. federal securities laws. Congress established the joint security futures framework through the Commodity Futures Modernization Act of 2000 , creating a pathway for products that sit at the intersection of commodity and securities regulation.
The CFTC and Securities and Exchange Commission signed a memorandum of understanding on March 11, 2026 , to guide their coordination and collaboration. Selig described Equity Perps as building on both that agreement and the statutory framework.
Addressing the jurisdictional gap
Selig presented the approval as a response to regulatory uncertainty that had kept innovative security futures products from reaching the market. He linked that uncertainty to a lack of alignment between the CFTC and SEC.
In his statement, Selig cited SEC Chairman Paul S. Atkins ’ description of a regulatory “no man’s land” for such products. He said the agencies were working to provide regulatory clarity and a route to market instead of allowing jurisdictional disputes to block products.
Selig also argued that bringing perpetual derivatives into U.S. regulated markets lets American investors and traders use them within the CFTC’s investor-protection framework, rather than turning to offshore venues that are often unregulated. He described harmonized oversight as supporting lawful innovation, market integrity and customer protection.
The bitcoin approval that came first
The equity decision follows the CFTC’s approval of the first bitcoin perpetual futures contract on a CFTC-regulated exchange earlier in 2026. Selig said that approval was an earlier step in his effort to bring perpetual derivatives onshore with appropriate safeguards.
In remarks on January 29, 2026, Selig directed the agency to use its available tools toward that goal. The subsequent order approving KalshiEX LLC’s BTCPERP futures contract was dated May 29, 2026.
Article produced with the assistance of artificial intelligence and reviewed by the editorial team.
