Singapore Exchange’s derivatives unit is preparing to roll out one of crypto’s most influential trading products, announcing that bitcoin and ether perpetual futures will launch on Nov. 24. The initiative aims to merge the reliability of a regulated derivatives marketplace with the flexibility of the crypto sector’s most preferred instrument.
“With digital assets now firmly embedded in institutional portfolios, this launch was a logical next step,” said Michael Syn, president of SGX Group. “Our goal is to bring the same governance and discipline that define global markets to the perpetual futures format.”
Unlike traditional futures, perpetual contracts never expire, allowing traders to maintain exposure without managing rollovers. Despite operating mostly on offshore, lightly supervised exchanges, perpetual futures dominate global crypto activity, accounting for over $187 billion in daily trading volume. Their pricing mechanism is anchored by funding-rate payments that keep contract values aligned with spot prices.
The new SGX products will be tied to the iEdge CoinDesk Crypto Indices, a benchmark suite widely used for institutional-grade valuations and risk models.
“Crypto derivatives represent the bulk of trading volume, and perpetual futures are the centerpiece of that market,” said Andy Baehr, head of product and research at CoinDesk Indices. “We’re pleased to support SGX in offering a regulated version with traditional margining and clearing.”
The iEdge CoinDesk Cryptocurrency Indices publish real-time values every second, along with daily reference rates at 4 p.m. SGT (8 a.m. UTC) covering bitcoin and ether across high-quality, liquid exchanges.
Major industry players — including DBS Bank and OKX Singapore — endorsed the development, noting its importance for institutional adoption.
According to Patrick Yeo, head of digital assets within global financial markets at DBS Bank, perpetual futures give professional traders a more capital-efficient way to manage crypto exposure compared to spot markets, where positions require holding the underlying tokens.
OKX Singapore CEO Gracie Lin added that institutional demand for localized, regulated benchmarks is rising as portfolios increasingly mix crypto with traditional assets.
“This is a significant step in Singapore’s market evolution,” Lin said. “Having a credible reference point enhances transparency, strengthens confidence and supports sustainable ecosystem growth.”
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