Singapore Exchange’s (SGX) derivatives arm is set to introduce one of the crypto market’s most popular instruments to institutional traders: perpetual futures. The SGX Derivatives team announced on Monday the upcoming launch of bitcoin (BTC $95,854.45) and ether (ETH $3,209.17) perpetual futures, scheduled to go live on November 24. This offering promises to combine the structure and trustworthiness of global derivatives markets with the flexibility of crypto’s most traded instruments.

“Digital assets have made their way into institutional investors’ portfolios,” said Michael Syn, president of SGX Group. “We’ve taken the next logical and deliberate step by applying the same institutional discipline that underpins global markets to crypto’s most traded payoff.”

### What Are Perpetual Futures?

Perpetual futures are futures contracts with no expiry date, often described as the “wild west” of crypto trading. Their ability to be held indefinitely makes them popular among crypto enthusiasts who value flexibility without the pressure of rollover operations common in traditional futures that have fixed expiry deadlines.

These contracts typically trade 24/7 on mostly offshore and unregulated platforms, generating over $187 billion in daily volume worldwide. To keep contract prices aligned with the actual market price of the underlying asset, perpetual futures utilize a funding rate mechanism. This involves periodic payments exchanged between buyers and sellers.

### SGX’s Unique Offering

SGX’s perpetual futures will reference the iEdge CoinDesk Crypto Indices, ensuring alignment with benchmarks widely used for institutional price discovery. Andy Baehr, head of product and research at CoinDesk Indices, said, “More than two-thirds of all crypto trading is in derivatives, and perpetual futures offer unique features and benefits that have made them a favorite. We are excited to see SGX Derivatives bring perpetual futures onshore with traditional margining and clearing, and are delighted to support the benchmark rate for this innovative contract.”

The iEdge CoinDesk Cryptocurrency Indices provide real-time benchmarks and reference rates for bitcoin and ether. Reference rates are published daily at 4 p.m. SGT (8 a.m. UTC), including on business holidays and weekends, and track cryptocurrency performance over a defined time window of 3 p.m. to 4 p.m. SGT. Additionally, real-time indices are published every second, 24 hours a day, seven days a week.

### Industry Response Welcomes the Launch

Key industry players, such as DBS Bank and centralized exchange OKX, have welcomed SGX’s new offering, describing it as a timely and strategic move that provides institutions better access to crypto markets.

“We are committed to sharing our expertise and insights as a pioneer in this space to foster a robust and responsible digital asset ecosystem in Singapore,” said Patrick Yeo, head of digital assets, global financial markets at DBS Bank. Yeo further explained that perpetual futures enable institutional traders to gain exposure to cryptocurrencies without actually owning them, allowing for greater precision and capital efficiency in portfolio management compared to spot trading, where the asset is bought or sold immediately.

Gracie Lin, CEO of OKX Singapore, highlighted the growing demand for regionally anchored benchmarks, noting it reflects a broader institutional trend towards diversified portfolios that blend crypto exposure with traditional assets. “It is a natural step in Singapore’s market evolution, and this deeper reference point adds transparency and confidence for institutional participants, helping to support long-term growth of the ecosystem,” Lin added.

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With this move, SGX is poised to strengthen Singapore’s position as a leading hub for institutional crypto trading by bringing trusted, regulated perpetual futures contracts to the market.
https://www.coindesk.com/markets/2025/11/17/emb-9-20-am-utc-sgx-derivatives-debuts-bitcoin-ether-perpetual-futures-tied-to-iedge-coindesk-cryptocurrency-indices