ICE and Trade[XYZ] plan US-regulated Hyperliquid perps, pending approval
ICE becomes the exclusive operator of Trade[XYZ]'s regulated markets and takes a stake. Nothing is live for US traders yet, and there is no launch date.
· Announced · Verified 2026-10-31 via official announcement
Announced Oct 29, 2026: ICE and Trade[XYZ] plan US-regulated Hyperliquid perps, pending approval. Affects: US traders waiting for regulated access to Hyperliquid-based perps (only once approvals are granted). Source: ir.theice.com, verified Oct 31, 2026. trade.xyz code DEXSHEET (4% off fees).
Intercontinental Exchange (ICE), owner of the New York Stock Exchange, and Trade[XYZ] announced on 29 October 2026 a definitive agreement to bring Trade[XYZ]'s Hyperliquid-based perpetual markets onshore in the United States, subject to regulatory approvals. ICE becomes the exclusive operator of Trade[XYZ]'s regulated markets and is making a strategic investment in the company.
ICE plans a new, dedicated retail market and clearing structure built on Hyperliquid to run perpetual futures with identity (KYC) and anti-money-laundering checks, and says it will seek the approvals needed, including those to support leveraged trading. Once approved, verified customers are expected to reach the markets through futures commission merchants that join the platform. Neither company gave a launch date or the size of ICE's stake. Investor Stanley Druckenmiller also said on 29 October that he is an investor in Trade[XYZ]; he did not disclose the size of his stake, and said that as a market participant he looks forward to using the product.
ICE expects to distribute the contracts through brokers and platforms including its joint venture with OKX, which itself still needs approval for its US broker-dealer and futures commission merchant subsidiaries. ICE says the retail business will run separately from its institutional futures and clearing franchise.
On 31 October, TokenPost and other crypto news sites reported that ICE had removed its own X post about the agreement while its repost of Trade[XYZ]'s announcement stayed up. ICE has not given a reason. ICE's press release announcing the agreement was still published on its investor relations site when DexSheet checked on 31 October, and DexSheet found no statement from either company changing the deal.
Nothing changes today for US traders. trade.xyz's Terms of Use (updated 6 September 2026) list US residents as restricted persons, and Hyperliquid's terms also exclude the United States. Trade[XYZ] continues to offer eligible users outside the US round-the-clock perps on equities, indices, commodities and currencies.
“Under the agreement, ICE is the exclusive operator of Trade[XYZ]'s regulated markets and intends to establish a new, dedicated, regulated retail market and clearing structure for that purpose.”
— ICE press release
Who this affects
US traders waiting for regulated access to Hyperliquid-based perps (only once approvals are granted), OKX customers in the US via the planned ICE-OKX venture, and current trade.xyz users outside the US.
trade.xyz at a glance
trade.xyz deploys perpetual markets on Hyperliquid through HIP-3, covering US and Asian stocks, ETFs, equity indices, commodities, FX and pre-IPO companies, all margined and settled in USDC. Hyperliquid's own engine matches orders and holds positions; trade.xyz sets the market rules and price feeds and runs a web interface at app.trade.xyz.
Full trade.xyz sheet · 0.018% round trip · Also affects Hyperliquid, OKX
More from the newsroom
Sources
Last checked . Fees and terms change often; the venue's own page wins if it disagrees with ours.
- ICE - Intercontinental Exchange and Trade[XYZ] to Bring Hyperliquid-Based Perpetual Markets Onshore (2026-10-29) — checked 2026-10-31
- trade.xyz on X - response to the ICE agreement (2026-10-29) — checked 2026-10-29
- Stan Druckenmiller on X - investor in trade(xyz) as it partners with ICE (2026-10-29) — checked 2026-10-30
- Decrypt - NYSE owner ICE moves to bring Hyperliquid perpetual futures to the US (2026-10-29) — checked 2026-10-29
- trade.xyz Terms of Use (last updated 2026-09-06), section 2.2 — checked 2026-10-29
- Hyperliquid Terms of Use, section 1.6 — checked 2026-10-29
- Unchained - Stan Druckenmiller Confirms Trade.xyz Stake, Says He Plans to Use Its Hyperliquid Perps (2026-10-29) — checked 2026-10-30
- TokenPost - ICE Removes Trade.xyz Deal Post From X as Repost Remains Visible (2026-10-31) — checked 2026-10-31
- Bloomingbit - NYSE Parent ICE Deletes X Post on Hyperliquid-Based Perpetual Futures Plan (2026-10-31) — checked 2026-10-31
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