Coinbase Derivatives plans to launch individual stock and ETF perpetual futures, awaiting approval from CFTC

Coinbase Derivatives has submitted a rule change request to the CFTC to establish a cash settled individual stock and ETF share futures trading framework, including perpetual individual stock futures with no fixed maturity date. This type of contract is settled in cash and does not deliver or give investors ownership of the underlying securities. The proposed rules require that the initial market value of the underlying securities be at least $100 billion, the average daily turnover over the past six months be at least $450 million, the estimated deliverable liquidity must exceed 20 million shares, and the minimum margin for clients is proposed to be no less than 15% of the current market value of securities and futures. At present, the CFTC has not approved the application, and the relevant rule changes have not yet taken effect.