OKX and ICE are bringing 'never-expiring' oil futures to 120 million crypto users
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Intercontinental Exchange Inc. (ICE), owner of the New York Stock Exchange, and OKX announced Friday that they are joining forces to roll out perpetual oil futures.
Key facts
The ICE and OKX foray into oil perps comes as Hyperliquid's oil futures contracts that never expire have proven to be a tremendous success, consistently generating roughly $1.6 billion in daily
The new perpetual contracts based on ICE’s data will open energy benchmark product access to OKX’s 120 million retail traders, said Trabue Bland, senior vice president of futures exchanges at ICE
Intercontinental Exchange Inc. (ICE), owner of the New York Stock Exchange, and OKX announced Friday that they are joining forces to roll out perpetual oil futures
In a joint statement, the firms’ said ICE’s futures prices for Brent crude and West Texas Intermediate (WTI) will bolster the new perpetual contracts on OKX
Summary
Intercontinental Exchange, owner of the New York Stock Exchange, and crypto exchange OKX are launching perpetual oil futures based on ICE’s Brent and WTI benchmark prices. The new contracts, available where OKX is licensed to offer perpetual futures, will give OKX’s roughly 120 million retail traders access to regulated energy benchmark products. The move underscores the growing convergence of crypto and traditional finance as regulators signal plans to bring perpetual futures under U.S. oversight and as ICE deepens its strategic partnership and investment in OKX. In a joint statement, the firms’ said ICE’s futures prices for Brent crude and West Texas Intermediate (WTI) will bolster the new perpetual contracts on OKX.