Doesn’t that beg the question? Why hasn’t a platform capitalised on the perpetual future in tradfi markets.
I can understand why CME might not. But why wouldn’t a new entrant like robinhood launch perpetual futures?
I can understand why CME might not. But why wouldn’t a new entrant like robinhood launch perpetual futures?
There are futures for other financial instruments or indexes where it might make more sense, but there the use of futures is more about hedging than owning the underlying, since it's not as complicated as owning your own crypto and keeping it safe.
* pricing is well understood
* shares similar risks across all products
If you add an ES perp, that might be a fine instrument in isolation, but it behaves totally differently than most other rates instruments so might be hard to fit into a portfolio than dated futures that you roll.
I ran a trading desk in the past that did both dated and perpetual products and this was a major point of focus.