SGX to Launch Bitcoin, Ethereum Perpetual Futures on Nov 24

Core Viewpoint - Singapore Exchange Derivatives will launch Bitcoin and Ethereum perpetual futures on November 24, becoming the first major Asian exchange to offer exchange-cleared crypto perpetual futures [1] Product Specifications - Bitcoin contracts will be sized at 0.2 BTC with a minimum price fluctuation of $1, while Ethereum contracts will be sized at 5 ETH with the same tick value [2] - The perpetual futures will utilize a funding rate mechanism to rebalance supply and demand, with funding rates capped at plus or minus 35 basis points and an average spread of 3 basis points when trading remains within defined parameters [3] Trading Sessions - Trading will occur in two sessions under Singapore time: the T session from 7:05 a.m. to 4:00 p.m. and the T+1 session from 4:05 p.m. to 5:15 a.m. the following day, with both contracts cash-settled in USD [4] Access and Regulation - Access to the contracts is limited to qualified participants, including institutional entities and expert investors, with accredited investors required to have net personal assets exceeding S$2 million or an annual income over S$300,000 [4][5] Market Context - Perpetual futures account for over $187 billion in daily trading volume globally, primarily on offshore, unregulated platforms, with SGX's launch following similar products introduced by Bitnomial Exchange, Coinbase Derivatives, and One Trading [6] - The launch aligns with Singapore's broader tokenization initiatives as the Monetary Authority of Singapore continues to develop regulated digital asset infrastructure [5] Institutional Perspective - Michael Syn, President of SGX Group, emphasized that the launch applies institutional discipline to crypto's most traded derivative structure, providing institutions with the trust and scalability required for crypto exposure [7]