NYSE parent ICE teams with Hyperliquid-linked Trade.xyz to bring perpetual futures to US markets

Intercontinental Exchange (ICE), which owns the New York Stock Exchange, has teamed up with Trade.xyz to develop a regulated US market for perpetual futures. Trade.xyz is one of the market operators behind crypto trading platform Hyperliquid . HYPE, Hyperliquid’s native token, jumped 8.5% to $86 after the announcement. Under the agreement, the companies plan to build a new trading venue on Hyperliquid’s rails, with dedicated clearing, know-your-customer (KYC) and anti-money laundering (AML) systems. The market would offer Trade.xyz perpetual futures products tied to equities, equity indexes, commodities and currencies, subject to regulatory approval.