Cboe and Citadel’s Group Wants Stock Perps Shut Down, and a Judge Thinks It May Win

Six trading and crypto firms are backing the CFTC in a New York court after a federal judge said the agency likely lacked the authority to approve perpetual futures on single US stocks. On November 9, Coinbase, Kalshi, Kraken parent Payward, DRW Holdings, Jump Trading and Paradigm asked for permission to file a friend-of-the-court (amicus) brief supporting the approval. The suit comes from the Capital Markets Alliance Association, a new trade group whose members include Cboe and Citadel Securities.