# ICE Signs Trade[XYZ] Deal for U.S. Regulated Perpetuals Market

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/43865
Published: 2026-10-29T20:37:36.000Z
Updated: 2026-10-29T20:37:36.000Z
Section: Business

> ICE also made a strategic minority investment in Trade[XYZ]. The proposed market still needs regulatory approvals, including permission for leveraged trading.

Intercontinental Exchange (ICE), parent of the New York Stock Exchange, has agreed with Trade[XYZ] on a plan to bring its on-chain perpetuals market into the U.S. regulatory framework, subject to regulatory approval.

Under the agreement, ICE would exclusively operate the regulated market and establish separate retail trading and clearing services, distinct from its institutional futures and clearing operations.

Hyperliquid would provide the underlying infrastructure, while Trade[XYZ] would design the products. Trade[XYZ] currently offers perpetuals around the clock to eligible users outside the United States, with contracts tied to stocks, equity indexes, commodities and foreign exchange.

ICE also made a strategic minority investment in Trade[XYZ]; the amount was not disclosed. Perpetual contracts do not have expiration dates. ICE Chairman and CEO Jeffrey Sprecher described them as a complement to futures markets.

The companies still need regulatory clearances, including permission for leveraged trading. If approved, customers who pass identity and anti-money-laundering checks could trade through futures commission merchants that become platform members.