Singapore Exchange executive: Singapore Exchange is about to launch cryptocurrency perpetual futures.

A senior executive at the Singapore Exchange said that the Singapore Exchange could potentially launch cryptocurrency perpetual futures by the end of the year. Michael Syn, Head of Equities Markets at the Singapore Exchange, said in an interview, "We believe that cryptocurrencies are not suitable for retail investors. We see our cryptocurrency products as serving institutional investors." Syn stated that perpetual futures fill a "blank demand" for institutions in Singapore that execute market-neutral income management, as well as for those who engage in cryptocurrency options hedging and re-hedging. Unlike traditional futures contracts, perpetual futures do not expire, so traders do not need to roll over contracts monthly. This is a cryptocurrency derivative that allows traders to leverage bets on price fluctuations. Syn added that most of the trading volume in the cryptocurrency institutional market is based on market-neutral strategies, which aim to profit from both price increases and decreases. "If you look at the data from Binance or OKX, 80% of global cryptocurrency trading volume comes from this 'spot trading' model... and we will introduce a regulated and listed version of spot trading," Syn said. When asked if there is a specific timeline for the listing, Syn stated, "We hope to complete it before the end of the year, and if not, it will be done at a later time."