S&P 500 index to become tradable 24/7 via blockchain platform

Korea Economic Daily

Summary

S&P Dow Jones Indices said it granted blockchain platform company TradeXYZ a license to use the S&P 500 index.
TradeXYZ said it plans to launch S&P 500 perpetual futures via the decentralized exchange Hyperliquid.
The product was described as a structure that allows 24/7, 365-day futures trading using cryptocurrencies with coins posted as collateral.

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S&P Dow Jones Indices announced on the 18th (local time) that it has granted blockchain platform company TradeXYZ a license to use the S&P 500 index.

TradeXYZ operates Hyperliquid, a blockchain-based decentralized exchange. Through this platform, TradeXYZ plans to launch S&P 500 perpetual futures.

Perpetual futures are widely used in digital-asset trading. They have no expiry and allow decentralized futures trading as long as margin is posted.

This product enables 24/7, 365-day futures trading using cryptocurrencies without going through traditional stock exchanges. Instead, investors must connect their own digital-asset wallets to the blockchain exchange Hyperliquid and post coins as collateral.

This is the first time the S&P 500 index has been converted into a perpetual futures product with official backing from S&P Dow Jones Indices.

Reporter Lee Mi-a mia@hankyung.com