CFTC staff let exchanges turn perpetual-style index futures into true perpetuals until 20 October

Serguey Asael Shinder06 October 2026, 22:431 min read

The CFTC's Division of Market Oversight issued no-action relief on 5 October to designated contract markets (DCMs) that want to convert existing perpetual-style broad-based security index futures into true perpetual futures, the agency announced.

What it permits. DCMs may remove the expiration dates from those contracts, turning them into broad-based security index perpetual futures, once they meet the letter's customer-protection and procedural conditions:

• solicit feedback from market participants with open positions;
• give advance notice and an opportunity to exit positions;
• provide appropriate risk disclosures;
• make sure no other material contract term is modified.

They must also file the amendments under CFTC Regulations 40.5 or 40.6 and certify compliance with all conditions.

A short window. The no-action positions in the letter expire on 20 October 2026, fifteen days after it was issued. The release does not explain the date.

The same day the CFTC published an advance notice of proposed rulemaking on a framework for crypto asset transactions (release 9307-26).