SGX to List Perpetual Futures to Rival Crypto ‘Bucket Shops’

Singapore Exchange Ltd. will soon launch Bitcoin and Ether perpetual futures, with plans to shake up the market for one of the most popular and controversial products in crypto.

Perps, as they’re known in industry parlance, are derivative contracts with no expiry date. They have become hugely popular for placing speculative crypto bets, and played an outsized role in an October digital-assets crash that wiped out at least $19 billion worth of futures, thanks in part to exchanges’ auto-deleveraging systems.