US exchange stocks fall on perpetual futures approval
U.S. exchange stocks fell after the CFTC approved perpetual crypto futures. Investors fear these contracts could expand to equities and increase competition for incumbents.
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CBOE GLOBAL MARKETS INC led a selloff in United States exchange operators on Tuesday as shares fell 9% following the approval of perpetual futures. This decline follows the first domestic authorization of high-risk crypto derivatives that investors fear will expand into traditional equities. The shift signals a potential structural change in market competition that could pressure exchange valuation multiples.
