Trade.xyz and Hyperliquid have jointly submitted a comment letter to the US Commodity Futures Trading Commission, calling for the establishment of a US regulatory pathway for energy perpetual contracts and 24/7 trading. Trade.xyz is Hyperliquid's first and largest third-party perpetual contract market deployment provider, with a cumulative trading volume of over $500 billion in its WTI, Brent crude oil, and Henry Harbor natural gas markets since their launch in October 2025. The comment letter suggests setting leverage restrictions, disclosing funding rates and clearing mechanisms for US market participants, and allowing compliant markets to use on chain infrastructure for transaction execution, margin management, clearing, settlement, and record keeping.
