Capital Markets Alliance Sues CFTC Over U.S. Stock Perpetuals

The Capital Markets Alliance filed a federal lawsuit Nov. 3 challenging the CFTC’s decision to allow U.S. single-stock perpetual contracts, putting the new market’s regulatory footing in dispute. CFTC Chair Michael Selig announced that the contracts could trade immediately on exchanges registered with the agency. The approval marks the first time such products have been permitted in the U.S. Perpetual contracts have no expiration date and let traders take positions on stock-price moves without owning shares. The alliance, whose members include Cboe, Citadel Securities and Healthy Markets Association, argues the contracts are security-based swaps under the SEC’s jurisdiction.

Also reported by TheCoinrise, Crypto Front News.

Source: TokenPost