SEC Official Expects Perpetual Futures on U.S. Stocks to Start Trading This Quarter

Published October 14, 2026, 22:15 UTC. Based on the SEC's published remarks by Jamie Selway, October 14, 2026, and FinanceMagnates and TokenPost reporting.

The U.S. Securities and Exchange Commission's top markets official said on Tuesday, October 14, 2026 that perpetual futures on U.S. stocks could begin trading within weeks, marking the closest a crypto-native contract has come to entering regulated American equity derivatives trading.

Jamie Selway, director of the SEC's Division of Trading and Markets, told the Security Traders Association's 93rd Annual Market Structure Conference: "I expect at least four to begin to trade perpetual futures on securities sometime this quarter." The Commission published his remarks, titled "How Soon is Now?", on the SEC's website the same day.

The five Form 1-N filings

Selway said that in September the Commission received Form 1-Ns from five CFTC-registered designated contract markets, Coinbase, Kalshi, Bitnomial, NADEX and ICE Futures, to notice-register as security futures exchanges. The filings are the procedural step that would let the venues list and trade security futures products under the SEC-CFTC framework.

Under the framework, an eligible exchange's registration becomes effective when it submits the required notice, a process distinct from a conventional exchange application that requires SEC approval before trading begins, FinanceMagnates reported. The SEC's rules distinguish Form 1-N notices from approvals, the outlet added, and the registration covers only the trading of security futures products, not general authorization to operate a cash-equities exchange.

CME's July single-stock futures were the first domino

Selway pointed to CME's launch of cash-settled single-stock futures on July 27 as the opening move. He also noted the SEC approved, on October 13, Cboe's proposal to list binary security options based on key performance indicators, or KPIs, associated with NMS securities.

The public-comment period on the SEC's review of Coinbase Derivatives' proposed cash-settled futures on individual stocks and ETF shares, including perpetual single-stock futures, ends October 14, TokenPost reported.

Perpetuals have no expiration date

Perpetual futures differ from standard futures because they have no fixed expiration date and use periodic funding payments to keep prices aligned with the underlying asset. Crypto exchanges such as Binance, Bybit and Hyperliquid have dominated the product for years, and the CFTC approved KalshiEX's Bitcoin-linked perpetual contract on May 29, establishing a U.S. regulatory path for crypto perpetuals under CFTC chair Michael Selig.

Selway added that the SEC is working with the CFTC on a framework for tokenized securities, and identified swap and security-based swap reporting, portfolio margining and product definitions as areas under joint review.

This article is news reporting and is not investment advice.

Sources

• U.S. Securities and Exchange Commission, "How Soon is Now? Remarks at the Security Traders Association's 93rd Annual Market Structure Conference," by Jamie Selway, Director of the Division of Trading and Markets, October 14, 2026, primary source for the Form 1-N filings from Coinbase, Kalshi, Bitnomial, NADEX and ICE Futures, the expectation that at least four exchanges will trade perpetual futures on securities this quarter, the CME July 27 launch, the October 13 Cboe KPI binary options approval, and the joint SEC-CFTC agenda
• FinanceMagnates, October 14, 2026, secondary source for the notice-registration mechanics of Form 1-N and its limited scope
• TokenPost, secondary source for the CFTC's KalshiEX Bitcoin perpetual approval on May 29, the June 12 no-action relief on converting perpetual-style contracts, and the October 14 end of the comment period on Coinbase Derivatives' proposed stock futures