📋 Tender Overview
SGX Derivatives is rewriting the rules of institutional crypto trading with the launch of Bitcoin and Ethereum perpetual futures. This landmark initiative brings the discipline trust and transparency of global financial markets to cryptos most dynamic products setting a new standard for the industry. Launching on 24 November 2025 these innovative contracts provide a continuous no-expiry structure favoured by crypto-native communities combined with the robust clearing and margining standards of listed derivatives. With this launch institutional accredited and expert investors can access institutional-grade crypto perpetual futures within a regulated exchange-cleared framework - marking a major step forward in bridging traditional finance and digital asset markets.A Game-Changer for Crypto MarketsPerpetual futures account for more than US$187 billion in daily average volumes globally with Asia at the epicentre of this growth. Yet these flows remain largely priced off and settled on offshore platforms outside of Asia. By bringing these flows on-exchange SGX will enable institutions to trade and gain exposure to Bitcoin and Ethereum with confidence and scale. Michael Syn President SGX Group said Digital assets have made their way into institutional investors portfolio. We have taken the next logical and deliberate step - applying the same institutional discipline that underpins global markets to cryptos most traded pay-off. By bringing the perpetuals into an exchange-cleared regulated framework we offer institutions the trust and scalability they have been waiting for. The crypto perpetual contracts are benchmarked to iEdge CoinDesk Crypto Indices aligning price discovery with institutional-grade benchmarks widely recognised across the industry. Andy Baehr Head of Product and Research 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 favourite. 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.Industry Welcomes Move to Expand institutional Access The launch has drawn encouraging feedback from market participants who view this as a timely and strategic step in advancing access to crypto markets which have become increasingly mainstream. Leonard Hoh General Manager Bitstamp by Robinhood - Asia Pacific said This launch is reflective of how market infrastructure and participation are evolving and it is exciting to see a Singapore-anchored benchmark to reflect the liquidity we see in Asia. This is an important step for institutions to trade at scale and we are proud to partner with SGX to provide connectivity to the global crypto ecosystem.Patrick Yeo Head of Digital Assets Global Financial Markets DBS Bank said Crypto perpetuals offer institutional traders enhanced precision and capital efficiency when managing their digital asset portfolios as compared to spot trading. In addition clearing and margining these derivatives under the same standards as traditional instruments paves the way for broader adoption and marks a new milestone in the growing maturation of the digital asset ecosystem. DBS is pleased to support SGXs launch as a member of its cryptocurrency index committee and 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.Joseph Chang Co-Founder and CEO Liquibit Capital said We are excited to support SGXs crypto perpetual futures launch a key step in bringing regulated liquidity to Asias growing digital asset markets. Exceptional performance begins with robust risk management and SGXs move delivers exactly that.CJ Fong APAC General Manager GSR said Institutional-grade perpetual futures are a critical milestone in the evolution of crypto markets. By combining SGXs global credibility with crypto-native innovation we are creating the foundation for scaled regulated participation in digital assets.Gracie Lin CEO OKX Singapore said We have seen growing demand for regionally anchored benchmarks especially as institutions look to integrate crypto exposure alongside other asset classes. It is a natural step in Singapores market evolution and this deeper reference point adds transparency and confidence for institutional participants helping to support long-term growth of the ecosystem.Melvin Deng CEO QCP said SGXs entry into perpetual futures is a defining moment for Asia digital asset markets. Institutional participants have long sought a regulated venue that combines the familiarity of traditional market infrastructure with the innovation of crypto-native products. This launch highlights the innovative approach from SGX to encourage global investors to engage in digital assets in Singapore.Ramesh Arumugam Managing Director Asia Pacific Virtu Financial said Centrally cleared cryptocurrency perpetual futures enhance the foundation for market liquidity directly drawing from our existing daily flows. This infrastructure aids price discovery and execution fundamentally boosting our capacity and ability to confidently quote to institutional counterparties.For more information on SGX Crypto Perpetual Futures visit . -End- Source: CoinDesk Research DAV number for Jan 2025 to Sep 2025. The iEdge CoinDesk Cryptocurrency Indices are a suite of indices covering real-time benchmarks and reference rates for Bitcoin and Ethereum (see for more information).
