Intercontinental Exchange (ICE), the owner of the New York Stock Exchange (NYSE), and cryptocurrency exchange OKX have partnered to launch perpetual futures linked to oil prices. OKX announced on Friday that it will introduce new products based on ICE's Brent and WTI crude oil benchmarks. This was reported by Cointelegraph.com .
These new contracts will provide OKX customers with access to ICE's deep, liquid, and transparent energy markets. Trabue Bland, Senior Vice President of Futures Exchanges at ICE, noted that this partnership is a significant step in bridging traditional energy markets and the digital asset ecosystem.
This project is the first product of a broad partnership announced in March of this year. At that time, ICE invested $25 billion in the crypto exchange. Oil-linked perpetual futures will be available to retail traders only in jurisdictions where OKX is licensed.
Perpetual futures, or "perps," allow traders to bet on the rise or fall of an asset's price without actually purchasing the asset. Unlike traditional futures, these contracts have no expiration date, allowing traders to keep their positions open indefinitely.
In recent months, other major exchanges such as Binance and Bybit have also launched derivatives linked to oil and natural gas. As oil price volatility increases due to geopolitical tensions, demand for such financial instruments is growing significantly.
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