Intercontinental Exchange (ICE), the parent of the New York Stock Exchange, and crypto exchange OKX will launch perpetual futures linked to benchmark prices for Brent crude and West Texas Intermediate (WTI).
Cointelegraph reported on May 22 that the product will trade only in jurisdictions where OKX holds licensing to offer perpetual futures trading.
ICE is preparing oil-linked perpetual futures with OKX. OKX plans to introduce contracts based on ICE Brent and WTI benchmarks. Settlement will follow ICE Brent and WTI benchmark prices.
The product is the first result of a comprehensive cooperation the two companies unveiled in March. At the time, ICE invested in OKX at a valuation of $25 billion. Trabue Bland (트라뷰 블랜드), senior vice president at the ICE Futures exchange, said the deal would allow OKX customers to access energy benchmark products. Haider Rafique (하이더 라피크), OKX global managing partner, said the product targets retail traders.
Chi-gyu Hwang
delight@d-today.co.kr