Update
Stock Perpetual Futures Face Lawsuit Over CFTC Approval
Stock perpetual futures have faced a lawsuit filed by the Capital Markets Alliance against the CFTC. The alliance, which includes Cboe Global Markets and Citadel Securities, argues that these derivatives should be overseen by the SEC due to their security-based swap nature. The lawsuit seeks to halt trading until the case is resolved, citing concerns about investor protections and inadequate risk assessments. CFTC Chairman Michael Selig announced earlier that stock perpetual futures could begin trading on qualifying U.S. exchanges, but the alliance argues this bypasses established rules and investor protections.