SGX to list Bitcoin, Ether perpetual futures on 24 Nov

Traders in SGX's perpetual futures won't automatically get liquidated if a sudden market shift upsets their positions.

- Bloomberg

Singapore Exchange Ltd (SGX) 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.

Traders in SGX's perpetual futures—which are slated to go live on 24 November—won't automatically get liquidated if a sudden market shift upsets their positions. Instead, the tried-and-tested system of margin calls and top-up collateral payments used by traditional exchanges will be deployed.