Kraken Plans to List Single-Stock Perpetual Futures Contracts via Bitnomial

TechFlow reports that on September 21, filing documents disclosed by the U.S. Securities and Exchange Commission (SEC) showed that Bitnomial Exchange, acquired by Payward, the parent company of Kraken, has submitted a rule change application to establish common listing standards and related trading rules for cash-settled single-stock equity futures products. The exchange plans to launch cash-settled single-stock equity futures, including “perpetual equity futures” with no fixed expiration date. These products will support 24/5 trading and utilize a funding rate mechanism for payments between long and short positions. Additionally, Bitnomial plans to implement a daily cash settlement mechanism for its equity futures products, specifying that each contract represents 100 shares of the underlying stock, with a standard position limit of 200,000 contracts.

According to further disclosures from Payward, it plans to initially launch perpetual futures linked to the stocks of 10 U.S.-listed companies, including Tesla, Nvidia, Apple, Microsoft, and Amazon.