In a comment letter dated August 24, Ondo Finance has informed the SEC and CFTC that new regulations are not required to allow trade in perpetual contracts based on US stocks. The letter argues that the current framework of security futures accommodates the product.
Ondo Finance has formally petitioned American financial regulators to authorize perpetual futures contracts on individual US equities, asserting that existing legislation provides sufficient legal foundation for these instruments.
Ondo Finance has asked US regulators to bring perpetual futures tied to individual stocks onshore after its offshore platform recorded $8 billion in cumulative trading volume within roughly six weeks. Ondo Finance, in three Aug.