ICE and tradeXYZ Plan U.S. Hyperliquid Futures Market

Intercontinental Exchange and trading platform tradeXYZ plan to develop a U.S. perpetual-futures market using Hyperliquid technology, with contracts tied to equities, indexes, commodities, foreign exchange and cryptocurrencies. The proposed venue would require approval from the Commodity Futures Trading Commission before it could launch. The companies said the market would use dedicated exchange and clearing infrastructure and provide access through participating brokers and platforms. They have not announced a launch date or identified the registered exchange and clearing entities that would operate it. The announcement also does not specify whether the project will use existing licenses or require new approvals. ICE, which owns the New York Stock Exchange, is making a strategic investment in tradeXYZ. The companies have not disclosed the investment amount or the ownership stake ICE may receive. TradeXYZ said investor Stan Druckenmiller is among a small group joining the initiative; it did not disclose individual investment commitments or ownership interests. The proposed U.S. business is separate from tradeXYZ’s existing markets on Hyperliquid. The company said it will...