- ICE and OKX: They plan to launch perpetual oil futures based on the benchmark Brent and WTI.
- This will allow cryptocurrency derivatives to enter traditional energy markets.
Intercontinental Exchange (ICE), owner of the New York Stock Exchange (NYSE), and cryptocurrency exchange OKX: announced plans to launch trading in perpetual futures on Brent and West crude oil.
These new permanent contracts OKX:, based on ICE’s deep, liquid, transparent and global oil markets, enable clients OKX:… gain access to benchmark energy products,” said Trabu Bland, ICE’s senior vice president of futures exchanges.
В OKX: clarified, that perpetual oil futures will only be available in countries where the crypto exchange is licensed to trade such contracts. According to the global managing partner OKX: Haider Rafiq, these financial instruments are designed for retail traders and will provide them with access to energy benchmarks in a highly regulated and transparent environment.
Perpetual futures, or derivatives, allow traders to bet on the price of an asset without actually purchasing it. Unlike traditional futures, they have no expiration date.
In recent months, some centralized exchanges have expanded their range of derivatives on oil and other commodities. In April, Binance: launched perpetual futures on WTI, Brent oil and natural gas. Bybit also introduced oil contracts for 24-hour trading. However, the largest platform for this type of asset this year was the Hyperliquid exchange, where trading volume reached a record $500 million.
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