Intercontinental Exchange said on Oct. 29, 2026, that it had agreed with Trade[XYZ] to develop a regulated, Hyperliquid-based perpetual futures market for U.S. retail investors. The venue has not launched and requires U.S. regulatory approvals, including authorization for leveraged trading.
Under the agreement, ICE would exclusively operate Trade[XYZ]’s regulated markets and take an undisclosed minority stake. The companies plan separate trading and clearing infrastructure to keep retail trading and counterparty risks apart from ICE’s institutional business. If approved, clients would need to pass identity and anti-money laundering checks and trade through registered intermediaries that have joined the platform. A separate ICE-OKX initiative also needs U.S. approvals to operate as a broker-dealer and futures commission merchant.
