Update
CFTC Approves Equity Perps Trading and Faces Legal Challenge
The CFTC has approved the trading of perpetual futures on individual US stocks, a move that allows US traders access to popular overseas products. However, a lawsuit has been filed by the Capital Markets Alliance, backed by Cboe and Citadel Securities, claiming the CFTC exceeded its authority and encroached on the SEC's jurisdiction. The CFTC responded by emphasizing the need for governance by law rather than litigation to foster innovation.