SGX Prepares to Bring Crypto Perps to US Institutions
Singapore Exchange Ltd is set to offer its cryptocurrency perpetual futures to US institutions, marking the first time a major traditional exchange has brought this type of product into the mainstream.
The exchange filed with the Commodity Futures Trading Commission last month and can offer the contracts to US investors if it receives no objection within 10 days. SGX's contracts trade 22.5 hours a day, five days a week, with members required to post 35% margin and use fiat collateral.
Lam, SGX's head of crypto derivatives, said the exchange is going after institutions, accredited investors, and expert investors who are not trading on weekends.
So far, liquidity has stayed overwhelmingly with crypto-native venues. The decentralised Hyperliquid platform handles roughly US$80 billion to US$100 billion a month in Bitcoin and Ether perps, while SGX has recorded about US$6 billion across its perpetual futures since launch.