OG.com Seeks CFTC Approval for Stock Perpetual Futures

OG.com is seeking approval from the US Commodity Futures Trading Commission (CFTC) to offer perpetual futures tied to individual stocks. This move comes as trading platforms look to bring this popular derivatives product to US equity markets.

The platform, which was recently spun out of Crypto.com and valued at $5 billion, has proposed new rules allowing it to list cash-settled single-stock futures that never expire and can trade 24 hours a day, five days a week.

Perpetual futures, or 'perps,' have no expiration date, allowing traders to maintain exposure without periodically rolling into new contracts. This product was pioneered in crypto by BitMEX in 2016.