一种所谓的与股票挂钩的永续衍生品合约获得了美国商品期货交易委员会（CFTC）的批准，可以开始交易。
A type of so-called perpetual derivatives contracts tied to equities got the US Commodity Futures Trading Commission’s green light to start trading.
CFTC主席迈克尔·塞利格周二在一份声明中表示，永续期货合约将被视为证券期货，同时受CFTC和证券交易委员会（SEC）监管。
CFTC Chairman Michael Selig said in a statement Tuesday that the perpetual futures contracts would be treated as security futures, subject to both CFTC and Securities and Exchange Commission regulation.
永续合约，也称为“perp”，是一种没有到期日的杠杆合约，这与传统衍生品不同。它们可以全天候交易，包括在股票市场正常休市时。这些结构性设计使它们在海外大受欢迎，尽管反对者警告称，它们也给不够成熟的交易者带来了重大风险。
Perpetuals, also known as perps, are leveraged contracts that don’t have an expiration date, unlike traditional derivatives. They can trade around the clock, including when equities markets are normally closed. Those structural designs have made them wildly popular overseas, although opponents caution they also pose significant risks to less sophisticated traders.
CFTC已将把永续合约引入受监管的美国市场作为优先事项，包括在今年早些时候批准了首批加密货币永续合约。
The CFTC has made it a priority to bring perpetual contracts into regulated US markets, including approving the first crypto perpetuals earlier this year.
塞利格表示，CFTC的决定“标志着一个重要步骤，即允许美国市场参与者在符合适用法律的前提下，享受永续期货的优势，这些优势使其成为广泛追捧的风险管理和价格发现工具”。
The CFTC’s decision “marks a significant step towards allowing US market participants, consistent with applicable law, to avail themselves of the advantages of perpetual futures that have led to their emergence as widely sought tools for risk-management and price-discovery,” Selig said.
Kalshi于9月向CFTC寻求监管批准，以上市单一股票永续合约。这些合约一直处于监管审查中，直到11月2日。Kalshi周二拒绝置评。
Kalshi sought regulatory approval from the CFTC in September to list single-stock perpetual contracts. Those contracts were under regulatory review until Nov. 2. Kalshi declined to comment Tuesday.
如果民主党如预期那样重夺众议院，并可能同时夺回参议院，CFTC在永续合约上的行动明年可能会引来国会的重大审查。
The CFTC’s actions on perpetuals could draw significant congressional scrutiny next year if Democrats retake the House, as anticipated, and potentially also the Senate.
来自两党的众参两院议员在最近几周对这些合约提出了担忧。参议院银行委员会的共和党议员凯蒂·布里特在10月29日的一封信中呼吁SEC和CFTC合作，确保这些产品拥有充分的投资者保护。
House and Senate lawmakers from both parties have raised concerns about the contracts in recent weeks. Katie Britt, a Republican on the Senate Banking Committee, called on the SEC and CFTC in an Oct. 29 letter to work together to ensure the products have adequate investor protections.
在11月2日的一封信中，六名民主党参议员呼吁美国证券交易委员会（SEC）单独监管与股票相关的衍生品，并就如何在市场监管和内幕交易禁令方面处理可能类似的产品提出问题。
In a Nov. 2 letter, a group of six Democratic senators called on the SEC to solely regulate derivatives tied to equities, and to respond to questions about how potentially similar products would be handled in terms of market surveillance and insider trading prohibitions.
参议员伊丽莎白·沃伦（Elizabeth Warren），参议院银行委员会的最高民主党成员，在该决定公布后几分钟内猛烈抨击了美国商品期货交易委员会（CFTC）。她在一份声明中表示，美国股票永续合约“可能会给我们的市场注入严重波动”。
Senator Elizabeth Warren, the top Democrat on the Senate Banking Committee, lambasted the CFTC’s decision minutes after it was announced. US stock perpetuals, she said in a statement, “could inject serious volatility into our markets.”