The proposed market will use Hyperliquid's infrastructure and feature Trade.xyz products.
Intercontinental Exchange (ICE), which owns the New York Stock Exchange, has teamed up with Trade.xyz to develop a regulated US market for 24/7 perpetual futures on Hyperliquid.
The planned venue will feature dedicated exchange and clearing infrastructure built on Hyperliquid and offer contracts tied to equities, indexes, commodities, foreign exchange and crypto, pending approval from the Commodity Futures Trading Commission (CFTC), according to Trade.xyz.
Investor Stan Druckenmiller is joining the initiative alongside a small group of market figures. ICE will also take an equity stake in Trade.xyz as part of the partnership.
The companies plan to develop the US venue in parallel with existing HIP-3 markets, with more information on product offerings, user eligibility and launch timing to be released as regulatory reviews advance.
HYPE, Hyperliquid’s native token, jumped 8.5% to $86 after the announcement.
Trade.xyz is a decentralized platform on Hyperliquid that enables 24/7 trading of perpetual derivatives tied to traditional financial assets, including stocks, indices, commodities and currencies. The contracts allow traders to take leveraged positions without an expiry date, extending market access beyond conventional trading hours.
The platform has partnered with S&P Dow Jones Indices to launch the first officially licensed S&P 500 perpetual derivative on Hyperliquid.
