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Intercontinental Exchange Inc. joined forces with one of the market operators behind offshore crypto-trading platform Hyperliquid as it seeks to bring perpetual futures products into US regulated markets.
ICE and Trade.xyz are planning a new market for trading perpetual futures contracts, with its own clearing, know-your-customer and anti-money laundering systems. The market will be built on Hyperliquid’s rails and use Trade.xyz products tied to the price of equities, equity indexes, commodities, and currencies, pending regulatory approval.
ICE, parent of the New York Stock Exchange, is taking a stake in Trade.xyz as part of the agreement, according to the firm’s executives. ...
