NYSE parent Intercontinental Exchange (ICE) and crypto exchange OKX announced plans to launch perpetual oil futures tied to Brent and WTI benchmarks.
The contracts will never expire and will roll out where OKX holds licenses to offer perpetuals
The product is the first joint launch since the March investment, which valued OKX at $25 billion. The Iran war has kept oil prices elevated and trading desks stretched in recent months. ICE Moves From Strategic Stake to Shared Product with OKX ICE Brent and WTI futures prices will anchor the new perpetual contracts, the companies said in a joint statement.
OKX serves more than 120 million customers worldwide, giving ICE distribution into crypto-native markets traditional exchange infrastructure rarely reaches. The launch follows ICE’s March OKX investment, which secured a board seat at the crypto exchange. The deal also outlined plans to license OKX spot crypto prices and route tokenized NYSE securities through the exchange.