ICE plans US perpetual futures market on Hyperliquid, acquires stake in Trade[XYZ]

Intercontinental Exchange, owner of the New York Stock Exchange, plans to launch a US 24/7 perpetual futures market on Hyperliquid, covering crypto, equities, commodities and currencies. ICE will operate the venue and clearing, while Trade[XYZ] designs products and Hyperliquid supplies technology. ICE acquired a minority stake in Trade[XYZ], whose markets have handled over $650 billion in cumulative volume on Hyperliquid in just over a year. The new market targets retail traders, a segment where ICE's current business is 99% institutional.