The Singapore Exchange (SGX) is preparing to bring a cornerstone of crypto derivatives trading into a regulated environment, announcing plans to introduce bitcoin and ether perpetual futures through its derivatives arm on Nov. 24.
The new contracts aim to merge institutional-grade clearing, risk management and transparency with the flexibility that has made perpetual futures the most traded product in digital asset markets.
“Digital assets have firmly entered the portfolios of institutional investors,” said Michael Syn, president of SGX Group. “Our goal is to apply the same disciplined framework that governs global derivatives markets to crypto’s most popular payoff structure.”
Unlike traditional futures, perpetual contracts do not expire, allowing traders to maintain continuous exposure without dealing with rollover deadlines. Although they typically trade on offshore venues with lighter oversight, perpetual futures remain dominant, generating more than $187 billion in daily volume. Their pricing stays close to spot markets through periodic funding rates paid between long and short positions.
SGX’s contracts will be benchmarked to the iEdge CoinDesk Crypto Indices, widely used by institutions for transparent and standardized price discovery.
“Derivatives make up over two-thirds of all crypto trading, and perpetuals are central to that activity,” said Andy Baehr, head of product and research at CoinDesk Indices. “We are pleased to support SGX as they bring these instruments onshore under traditional clearing and margining systems.”
The iEdge CoinDesk Cryptocurrency Indices provide second-by-second real-time benchmarks along with daily reference rates for BTC and ETH. These reference rates are published at 4 p.m. SGT (8 a.m. UTC) every day — including weekends and holidays — and are calculated using trading data from liquid, high-quality exchanges during a one-hour window.
Major institutions including DBS Bank and OKX Singapore welcomed SGX’s move, calling it a defining step for the region’s digital asset infrastructure.
Patrick Yeo, head of digital assets for global financial markets at DBS Bank, said perpetual futures will allow institutional traders to manage crypto exposure more precisely and efficiently than buying or selling spot assets.
OKX Singapore CEO Gracie Lin added that demand for regionally anchored, transparent benchmarks aligns with the broader institutional trend of integrating crypto exposure into diversified portfolios.
“This is a natural progression for Singapore’s markets,” Lin said. “A clearer reference framework strengthens participant confidence and supports the ecosystem’s long-term development.”
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