ICE Plans U.S. Hyperliquid Perpetual Market as HYPE Jumps 10%

Intercontinental Exchange (ICE), the parent of the New York Stock Exchange, plans to bring a regulated market for Hyperliquid-based perpetual contracts to U.S. traders through an agreement with Trade[XYZ]. The proposed retail market still needs regulatory approval.

ICE would be the exclusive operator of Trade[XYZ]’s regulated market and plans to build a separate retail venue and clearing framework on Hyperliquid. ICE also made a strategic investment for a minority stake in Trade[XYZ]; the amount was not disclosed.

The market is aimed at retail users. Customers would complete know-your-customer and anti-money-laundering checks and place orders through participating U.S. futures commission merchants. The required approvals include leveraged trading, and ICE has not provided a launch date.

HYPE briefly climbed from about $79.3 to $87.303 on Oct. 29, a rise of about 10.1%. At 7:34 a.m. ET (11:34 UTC), it traded at $86.151 on Hyperliquid, up 5.73% over 24 hours. The planned retail venue would add a new line alongside ICE’s institutional futures and clearing businesses.