Back to collectionICE and Trade[XYZ] Plan a U.S. Hyperliquid Perpetuals Market
ICE will operate a separate retail market and invest in Trade[XYZ], but launch, leverage and distribution remain subject to regulatory approvals.
Intercontinental Exchange and Trade[XYZ] announced a definitive agreement on October 29 to pursue a dedicated U.S. retail market and clearing structure built on Hyperliquid. ICE would be the exclusive operator of the regulated markets and is making a strategic investment in Trade[XYZ]. The proposed contracts would cover crypto, equities, commodities, foreign exchange and other real-world assets around the clock.
The venue is a plan, not a live U.S. product. ICE and Trade[XYZ] still intend to seek the approvals needed for the market, clearing and leveraged trading. If approved, KYC/AML-verified customers are expected to connect through member futures commission merchants, with possible distribution through the separate ICE–OKX venture. The structure could extend Hyperliquid-based infrastructure into a regulated retail channel, but no opening date or approval outcome has been established.