Perpetual futures: when expiry disappears, governance is key

Perps solve the futures roll problem, but run market-structure and regulatory risks, warns Vishal Gupta The notion of perpetual futures has been around since the early 1990s, when Robert Schiller developed the concept academically. But they’ve gained traction in recent years: BitMEX operationalised them for crypto markets in 2016 and this year they achieved notoriety when CME sued its regulator, the Commodity Future Trading Commission (CFTC), to challenge their legal status in the US.Perpetuals are Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe You are currently unable to print this content. Please contact info@risk.net to find out more. You are currently unable to copy this content. Please contact info@risk.net to find out more. Copyright Infopro Digital Limited. All rights reserved.You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.If you would like to purchase additional rights please email info@risk.net Sorry, our subscription options are not loading right now Please try again later. Get in touch with our customer services team if this issue persists. New to Risk.net? View our subscription options If you already have an account, please sign in here. Most read articles loading... Back to Top