ICE, NYSE Parent, Plans Hyperliquid-Based Perpetual Futures in US With TradeXYZ

Intercontinental Exchange Inc., the parent of the New York Stock Exchange, plans to launch Hyperliquid-based perpetual futures in the US.

Bloomberg reported on Oct. 29 that ICE is preparing to introduce the new perpetual futures products in partnership with TradeXYZ, a perpetual futures infrastructure provider in the Hyperliquid ecosystem.

As part of the partnership, ICE will also take an equity stake in TradeXYZ. The size of the investment was not disclosed.

The perpetual futures contracts will run on Hyperliquid’s blockchain infrastructure. ICE plans to tie the products to TradeXYZ prices for stocks, equity indexes, commodities and currencies.

Perpetual futures are derivatives with no expiration date. They allow traders to bet on price moves without directly holding the underlying asset, and typically offer 24-hour trading and leverage. TradeXYZ has been credited with expanding Hyperliquid’s perpetual futures market into traditional assets such as crude oil and stock indexes.

Neither Hyperliquid nor TradeXYZ currently offers services to US users. ICE selected TradeXYZ as its partner to launch perpetual futures under the US regulatory framework.

In the US, the Commodity Futures Trading Commission allowed domestic companies to launch perpetual futures this year, spurring a wave of related product rollouts. Kalshi and Coinbase, which recently began offering perpetual futures trading services, are among the companies that have launched such products.