derivatives

According to the "2026 Q4 Outlook Report on the Cryptocurrency Stock Market" published by RootData Research, from August to October 2026, Bitget's stock derivatives ±2% depth average reached 418 million USD, ranking first among eight platforms.In addition, Bitget's depth share reached 23.90%, with a larger visible order size within the ±2% range, demonstrating strong competitiveness in market liquidity supply.

According to the official announcement, Gate has launched 5 perpetual contracts for US stocks including FRHC (Freedom Holdings), DUOL (Duolingo), FISV (Fiserv), KMB (Kimberly-Clark), and MS (Morgan Stanley) in the stock derivatives section at 17:00 (UTC+8) on November 12. The underlying assets cover key sectors such as multinational comprehensive finance, online education, global payment technology, daily consumer goods, and international top investment banks, further enriching the platform's matrix of US stock contracts.The contracts launched this time are settled in USDT, support 1-20 times leverage for both long and short positions, and will open trading bot and copy trading functions within 1 hour after launch.

tZERO Group, a financial market infrastructure provider, announced that the U.S. Commodity Futures Trading Commission (CFTC) has approved its wholly-owned subsidiary tZERO DCM, LLC to register as a designated contract market (DCM), allowing it to operate a regulated derivatives exchange. Previously, on October 16, the CFTC approved tZERO DCO, LLC to register as a derivatives clearing organization (DCO). Currently, tZERO can support derivatives trading and clearing through its regulated entities.The two registrations will be incorporated into tZERO's infrastructure as a service (IaaS) business, developing trading and clearing services for financial institutions and other market participants. According to the merger agreement signed between tZERO and FG Imperii Acquisition Corp. on October 31, both DCM and DCO have been approved to constitute the first contingent milestone condition, which has now been met. tZERO's existing regulated securities infrastructure includes broker-dealers, alternative trading systems, digital asset securities custody, transfer agents, as well as clearing and settlement services.

This week, the U.S. Securities and Exchange Commission (SEC) submitted a court brief (amicus brief) in support of the U.S. Commodity Futures Trading Commission (CFTC). Previously, the CFTC was sued by the Capital Markets Alliance (CMA) last week, which sought to overturn the CFTC's approval of individual stock perpetual derivatives. CMA is an industry organization with members including Cboe and Citadel Securities.In the brief, the SEC rebutted CMA's claim that the CFTC has "gone rogue," stating that the CFTC's new rule changes are also subject to SEC review, and that the SEC and CFTC frequently collaborate, which is crucial for regulating stock perpetual contracts. The SEC indicated that its brief clarifies that the description of "CFTC out of control, SEC absent" is incorrect. CMA claimed in the lawsuit that the CFTC violated the Administrative Procedure Act because these perpetual derivatives should fall under SEC jurisdiction and requested the court to "overturn the approval."Subsequently, several cryptocurrency companies, including Coinbase, Kraken's parent company Payward, Kalshi, DRW Holdings, Paradigm, and Jump Trading, submitted a joint brief opposing CMA. Among them, Coinbase, Kalshi, and Payward have submitted applications to the CFTC for listing stock perpetual contracts linked to U.S. stocks, which were considered approved on November 2. The economic advocacy organization Better Markets and former SEC Commissioner Allison Herren Lee also submitted a brief, arguing that these new products should be regulated by the SEC. Better Markets stated that these products are essentially security swaps and should be regulated by the SEC to provide strong investor protection.

The U.S. Commodity Futures Trading Commission (CFTC) Clearing and Risk Division issued a no-action letter clarifying whether derivatives clearing organizations can use trust companies for the daily settlement of clearing members.The letter states that derivatives clearing organizations may consider trust companies as settlement banks that meet applicable CFTC requirements, allowing them to use these for daily settlements.

Institutional-level cryptocurrency platform Anchorage Digital has submitted a swap dealer registration application to the U.S. Commodity Futures Trading Commission (CFTC) to expand its institutional cryptocurrency options business. The application was submitted through Anchorage Digital Swap Dealer, LLC to the National Futures Association (NFA) and is currently awaiting NFA's review. The company's CEO and co-founder Nathan McCauley did not provide a timeline for the completion of the review, only stating that further progress will be announced at the appropriate time.McCauley stated that if the application is approved, Anchorage Digital Swap Dealer plans to offer European-style options for Bitcoin and Ethereum, with a maximum term of one year, and will subsequently launch more products as it meets its own approval processes and regulatory requirements. Once the registration is complete, institutional clients will be able to trade digital asset derivatives with CFTC-registered counterparties while also utilizing Anchorage Digital's existing custody and other services.Anchorage Digital noted that the growth of its existing options business primarily comes from publicly traded companies holding Bitcoin and Ethereum on their balance sheets, with asset management firms and funds using options to manage exposure also contributing. Anchorage Digital Bank, N.A. became the first federally licensed digital asset bank in 2021, regulated by the Office of the Comptroller of the Currency; this swap dealer entity will adhere to CFTC requirements regarding capital, risk management, and margin, applying the same framework used for interest rate, credit, and foreign exchange market banks under the Dodd-Frank Act. In March of this year, Anchorage Digital added collateral management features to the Atlas platform, and in December of last year, it acquired the wealth management division of Securitize.

According to the latest ranking of stock derivatives exchanges released by RootData, the top three exchanges are Binance, Hyperliquid, and Gate.Among them, Binance has a score of 75.5, a 24h trading volume of 31.878 billion USD, and a market share of 40.52%; Hyperliquid has a score of 74.9, a 24h trading volume of 5.96 billion USD, and a market share of 7.58%; Gate has a score of 74.4, a 24h trading volume of 1.773 billion USD, and a market share of 2.25%.

According to The Block, digital asset infrastructure company BitGo Holdings (BTGO) announced the launch of BitGo Global Markets, its new institutional trading and financial solutions business, integrating global liquidity, trade execution, financing, derivatives, and settlement services. This division is led by former NYDIG executive Pete Janney, and BitGo completed its acquisition of NYDIG's institutional and trading business on August 27.Approximately 30 employees joined BitGo after the acquisition, bringing expertise in derivatives, financing, collateral services, and structured products. Janney initially joined the company as the head of financial infrastructure. Since 2020, BitGo has provided institutional trading services through BitGo Prime, which has now been integrated into Global Markets, merging with derivatives, collateral management, and structured financing capabilities from NYDIG.Under the new division, BitGo's Global Liquidity Layer will offer spot trading and large over-the-counter trading channels, with liquidity sourced from exchanges, market makers, and other trading counterparts; clients can use their crypto assets as collateral to borrow funds for trading positions, with BitGo responsible for qualified custody, margin monitoring, and additional margin or clearing processing.The division will also provide options, swaps, and customized structured products for qualified counterparties, as well as managed investment strategies, private funds, and research services, with clearing and settlement handled by Go Network. BitGo CEO Mike Belshe stated that Global Markets will combine custody, liquidity, trading, financing, and settlement capabilities with deeper capital markets expertise. BTGO rose 3.4% in pre-market trading on Wednesday, following a 3.7% increase the previous day.

According to an announcement released by the Securities and Exchange Commission (SEC) of Thailand on October 29, the agency has publicly solicited opinions on a series of draft notifications to amend the licensing framework for derivative businesses, covering derivative exchanges, derivative clearinghouses, and intermediary businesses, to support the inclusion of digital assets in the scope of underlying assets recognized by the Derivatives Act. According to the proposal, digital asset operators can apply for a derivative business license without establishing a new company.According to MediaNama, the proposed digital asset derivative license will allow for activities such as derivative agency, proprietary trading, investment consulting, and investment management, with a license fee of 500,000 Thai Baht. Existing digital asset exchanges, brokers, and dealers can be exempt from application fees and license fees. Among digital asset operators, only exchanges and brokers can apply to operate derivative exchanges, while digital asset custodians are not allowed to apply for clearinghouse licenses. The deadline for public consultation is November 28, and the Thai SEC has solicited opinions on related principles from April to May of this year.

According to official news from Coinbase, global derivatives trading supported by Deribit has launched on Coinbase for Agents, open to eligible traders.Users can connect their Coinbase accounts to the AI platform to research the market, develop strategies, and trade within set limits.

According to official news from Bitget, the platform has released its transparency report for the third quarter of 2026. The report shows that Bitget's Q3 total trading volume reached $1.86 trillion, with a cumulative monthly trading volume growth of 21.2% from July to September. Among them, the trading volume of crypto derivatives reached $409.19 billion, a month-on-month increase of 31.5%; the trading volume of crypto spot increased by 65.7%; and CFD trading volume reached $376.32 billion, an increase of 39.7%.In terms of product layout, Bitget launched a Unified Trading Account (UTA) that incorporates over 370 assets into a unified margin system, including more than 100 tokenized U.S. stocks, with a collateral valuation ratio of up to 95%, further optimizing the cross-asset trading and fund management experience. At the same time, the platform has extended the application scope of the AI trading tool GetAgent Playbook to tokenized U.S. stocks and launched the stablecoin yield product Cash Plus, enriching users' asset management and yield options.Regarding the security system, Bitget has been releasing monthly reserve reports since December 2022, and as of September 2026, it has released 47 consecutive reports, with all asset reserve ratios maintained above 100%. In this quarter, Bitget further upgraded its Proof of Reserves (PoR) mechanism, expanding the coverage of reserve verification from the original 4 cryptocurrencies to 19 major assets. This upgrade also expanded the platform-level reserve disclosure and individual asset verification scope, allowing users to check the reserve ratio, reserve scale, and on-chain distribution of various assets through the PoR page, and independently verify whether personal holdings are included in the reserve snapshot based on the Merkle Tree, further enhancing the transparency and verifiability of reserve information.

The Hong Kong Stock Exchange will extend the after-hours trading session for derivatives. Starting from March 2027, the closing time for the after-hours trading session for derivatives on the Hong Kong Stock Exchange will be extended from the current 3:00 AM to 4:15 AM.The Hong Kong Stock Exchange will consider whether to further extend the closing time to 5:15 AM in November 2027 based on the market development after the extension of the after-hours trading session. Under the new arrangement, market participants can flexibly manage risks in response to external market conditions outside of Hong Kong's daytime trading hours.

According to the Kraken status page, the cryptocurrency exchange Kraken began investigating connection and order placement issues on October 30 at 02:42 (UTC), affecting spot and derivatives users using the website, mobile app, and REST, WebSocket, FIX interfaces.Kraken announced that the issue was resolved on the same day at 03:42 (UTC).

According to the latest stock derivatives exchange ranking released by RootData, the top three exchanges are Binance, Hyperliquid, and Gate.Among them, Binance has a score of 75.9, a 24h trading volume of 25.762 billion USD, and a market share of 39.10%; Hyperliquid has a score of 74.2, a 24h trading volume of 4.373 billion USD, and a market share of 6.64%; Gate has a score of 73.8, a 24h trading volume of 1.105 billion USD, and a market share of 1.68%.

Liquid Capital founder Yi Lihua stated that the global financial markets have been quite volatile recently, and one cannot expect to make money every moment in investments and trading. He mentioned that even Duan Yongping has to endure significant unrealized losses, with some stock investors previously making ten times their investment now facing an 80% retracement, and the situation for ordinary stock and cryptocurrency investors is even worse. The overall environment is still in a rate hike cycle, and Bitcoin has become a relatively well-performing asset.Yi Lihua reiterated that the upward trend is not a straight line, nor is the pullback; he still sees a bullish market trend and continues to wait for the right pullback. With the midterm elections approaching, market volatility and trading opportunities are increasing. He also mentioned that Coinbase has launched a global derivatives trading competition with a maximum prize pool of 2 million USDC, believing that this event provides a platform for communication and testing trading strategies, and he himself will participate and learn.

According to Bloomberg, during the intense fluctuations in international oil prices in early March, a trader allegedly influenced prices on the decentralized derivatives platform Hyperliquid through two accounts, using oil-related crypto derivatives.According to an analysis provided to Bloomberg by blockchain monitoring company Solidus Labs, the trader placed over $170 million in abnormal orders, and Solidus believes their behavior is suspected to be a form of spoofing price manipulation.

According to Decrypt, the U.S. Commodity Futures Trading Commission (CFTC) will hold a public roundtable on December 15 to discuss transitioning the derivatives market to 24/7 trading, with topics including overnight trading and tokenization. CFTC Chairman Mike Selig stated that the agency "will not take a one-size-fits-all approach."

Crypto.com and its derivatives partner OG.com began offering crypto perpetual contracts to eligible U.S. traders on Tuesday. The contract offers up to 5x leverage, allowing traders to bet on the price movements of crypto assets without an expiration date, and provides take-profit and stop-loss orders as well as isolated margin features.Crypto.com stated that it has recently registered as an introducing broker with the National Futures Association in the U.S. to offer the aforementioned perpetual contract products. These products operate through OG.com on exchanges, clearinghouses, and futures commission merchants regulated by the Commodity Futures Trading Commission. This launch follows the Commodity Futures Trading Commission's decision in May to open the U.S. market to crypto perpetual contracts.Previously, the agency approved Kalshi's Bitcoin perpetual contracts and provided Coinbase with no-action relief to offer digital commodity derivatives; Kraken launched U.S. perpetual contracts on Kraken Pro in June after acquiring Bitnomial. Crypto.com is also advancing its stock derivatives business, with OG.com’s exchange Nadex registering last month with the Securities and Exchange Commission to trade securities futures. CEO Kris Marszalek stated at that time that the company is working with the Securities and Exchange Commission and the Commodity Futures Trading Commission to offer individual stock perpetual futures.