NYSE's Parent Company CEO Calls for Regulated Exchanges to Launch 24/7 On-Chain Perpetual Contracts, Stressing the Need for a Fair Competitive Environment

BlockBeats News, May 29, Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), CEO Jeffrey Sprecher stated that regulators should create a "fair competitive environment" for regulated exchanges to launch 24/7 on-chain perpetual contracts. He mentioned that platforms like Hyperliquid already exist in the market to facilitate on-chain perpetual contract trading, while traditional exchanges are unable to offer similar services.

Sprecher revealed that ICE has had multiple discussions with Hyperliquid to understand the development of the on-chain perpetual contract market. He noted that the traditional finance industry is actively exploring 24/7 trading of assets such as stocks and commodities through blockchain infrastructure. Furthermore, Sprecher praised Hyperliquid's pace of development, saying, "If you haven't heard of it yet, it's already bigger than Nasdaq."

However, Hyperliquid's actual trading volume is still far below that of Nasdaq. This statement mainly reflects the competitive pressure that cryptocurrency derivatives platforms are exerting on traditional exchanges. Previously, ICE has invested in OKX and collaborated with Securitize to develop on-chain stock trading infrastructure that supports 24/7 trading and settlement.