CFTC: The designated contract markets in the United States can convert some contracts into perpetual contracts with no expiration date

According to The Block, the U.S. Commodity Futures Trading Commission (CFTC) has issued a "no-action" exemption, allowing designated contract markets (DCM) to convert certain existing contracts that essentially possess the characteristics of perpetual contracts into "true" perpetual contracts with no expiration date.

This exemption is effective until October 20. Exchanges must consult with holders of open positions before the conversion, provide advance notice, and offer them an opportunity to exit, while also providing risk disclosures.