Warren Statement on CFTC's Approval of Equity Perpetual Futures Contracts
Washington, D.C. – Today, U.S. Senator Elizabeth Warren (D-Mass.), Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee, released the following statement on the Commodities Futures Trading Commission’s (CFTC) approval of applications to list “perpetual futures contracts” linked to U.S. stocks, commonly referred to as “equity perpetuals” or “equity perps.” These equity perps would allow around-the-clock trading on future prices of stocks, even while the stocks themselves only trade during market hours:
“America’s capital markets became the gold standard for a reason: they’ve offered Americans a chance to invest in the next great business idea, protected by guardrails required under the law, in a fair deal that built our economy and Americans’ savings together.
But today, President Trump’s CFTC undermined that gold standard by rubber stamping 24/7 high-stakes gambling on our stock market. This kind of risky financial product is ripe for insider trading, puts American investors at risk, and could inject serious volatility into our markets.”
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