SGX Clears Regulatory Hurdle for U.S. Access to Crypto Perpetual Futures
The Singapore Exchange (SGX) has cleared a regulatory hurdle for American trading desks to access its Bitcoin and Ether perpetual futures, marking the first time U.S. institutions can trade crypto derivatives listed on an Asian exchange without a separate domestic registration.
Under Regulation 48.10, a provision that lets a recognized Foreign Board of Trade offer qualifying U.S. participants direct access to its electronic trading system, SGX has obtained CFTC authorization to open its existing order books to eligible American institutions without creating new U.S. listings or registering the Singapore venue as a domestic exchange.
According to KC Lam, head of crypto derivatives at SGX Group, this approval is an 'important milestone' that connects American traditional finance participants trading crypto futures with Asian liquidity pools, while helping establish crypto derivatives as a regulated asset class.