UPDATE: Citadel Securities-backed group sues CFTC over stock perps jurisdiction
CIE News ·
Update to CFTC clears perpetual futures on stocks, CoinDesk reports
Based on reporting by CoinDesk; not yet independently confirmed.
A group backed by Citadel Securities has sued the CFTC over its approval of stock-based perpetual futures, arguing the derivatives fall under the SEC's authority.
A group backed by Citadel Securities and other firms has filed a lawsuit against the Commodity Futures Trading Commission over the agency's decision to permit stock-based perpetual futures, according to CoinDesk. As previously reported, the CFTC cleared the crypto-style derivatives to offer traders a regulated domestic venue, but plaintiffs argue these instruments fall under the jurisdiction of the Securities and Exchange Commission instead.
Key facts
- Lawsuit filed against CFTC
- Citadel Securities-backed group
- Disputed SEC jurisdiction
- Stock perpetual futures