Intercontinental Exchange (ICE) and Trade[XYZ] agreed to bring Trade[XYZ]’s perpetual markets to the United States on Hyperliquid, under a proposed retail venue that requires regulatory approval.
The planned venue would offer contracts linked to crypto assets, equities, commodities, foreign exchange and other real-world assets. Trade[XYZ] currently gives eligible users outside the United States around-the-clock access to perpetual contracts tied to equities, equity indexes, commodities and currencies, ICE said.
A perpetual contract has no expiration date and can provide short-term exposure to a market, according to ICE. The exchange operator said retail traders increasingly seek products they can use around the clock, and described the new line as a way to expand its customer base while keeping its institutional franchise separate.
ICE would be the exclusive operator of Trade[XYZ]’s regulated markets and intends to establish a dedicated retail trading and clearing structure. ICE also plans a strategic investment in Trade[XYZ]; the firms intend to seek regulatory approval, including approvals needed for leveraged trading.
