ICE Partners with Trade.xyz to Launch Perpetual Futures Market in the U.S.

Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, is collaborating with Trade.xyz to establish a regulated market for 24/7 perpetual futures on Hyperliquid. This initiative aims to provide contracts linked to various assets, including equities, indexes, commodities, foreign exchange, and cryptocurrencies, subject to approval from the Commodity Futures Trading Commission (CFTC).

The partnership will leverage dedicated exchange and clearing infrastructure built on Hyperliquid, which has already seen over $650 billion in trading volume in just over a year. Notably, investor Stan Druckenmiller is also joining this initiative, alongside other market figures. As part of the collaboration, ICE will acquire an equity stake in Trade.xyz.

ICE and Trade.xyz plan to develop this U.S. venue in conjunction with existing HIP-3 markets, with further details on product offerings, user eligibility, and launch timelines to be disclosed as regulatory reviews progress. The announcement has already had a positive impact on the market, with Hyperliquid's native token, HYPE, experiencing an 8.5% increase following the news.

Trade.xyz operates as a decentralized platform on Hyperliquid, enabling 24/7 trading of perpetual derivatives tied to traditional financial assets. This allows traders to engage in leveraged positions without an expiry date, extending market access beyond conventional trading hours. The platform has also partnered with S&P Dow Jones Indices to introduce the first officially licensed S&P 500 perpetual derivative on Hyperliquid.