OKX, ICE, and Trade.xyz join forces to introduce perpetual contracts to the US regulated market

On October 29, OKX founder and CEO Star announced on social media that he will push for perpetual contracts to enter the regulated US market. The initiative is being jointly advanced by Intercontinental Exchange (ICE), the parent company of the NYSE, on-chain perpetual contract platform Trade.xyz, and OKX.

According to public information, ICE has signed a final agreement with Trade.xyz to build an independent trading and clearing system in the US, supporting 24/7 perpetual contract trading for stocks, indices, commodities, foreign exchange, and digital assets. ICE will serve as the exclusive operator for this US market, while Trade.xyz acts as ICE's exclusive partner for launching this business in the US. Distribution to retail users will be facilitated through a joint venture between ICE and OKX.

Star stated that this partnership combines ICE's institutional-grade market infrastructure, Trade.xyz's on-chain innovation capabilities, and OKX's distribution and trading technology, which is expected to give rise to a new generation of global, round-the-clock financial markets.