CFTC faces lawsuit after allowing perpetual futures trading on U.S. stocks

A group backed by Cboe and Citadel Securities has sued the CFTC to block single-stock perpetual futures, arguing that the products fall under SEC jurisdiction. Cboe and Citadel Securities-backed Capital Markets Alliance has sued the CFTC over single-stock perpetual futures approvals. The lawsuit argues that single-stock perpetual contracts qualify as security-based swaps under SEC jurisdiction. The CFTC maintains that registered exchanges can offer the contracts under existing federal derivatives rules. The legal challenge comes as cryptocurrency trading platforms seek access to traditional U.S. equity derivatives markets.

Source: crypto.news