# 2026-19407: Coinbase Unleashes Never-Ending Stock Futures on Traders 2026-19407, Self-Regulatory Organizations; Coinbase Derivatives, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating to the Adoption of Coinbase Derivatives, LLC's Rules Governing Cash Settled Futures on Individual Equity Securities and Exchange-Traded Fund Shares, Including Perpetual Single-Stock Futures, is a Federal Register notice from Securities and Exchange Commission published 2026-09-23, effective 2026-09-18; PRIA reads it as touching household money (as of 2026-09-30). - Canonical: https://policyrisk.com/federal-register/2026-19407 - As of: 2026-09-30 - Plain-text twin of the page above; the HTML and this file carry the same facts. ## Facts - Document number: 2026-19407 - Title: Self-Regulatory Organizations; Coinbase Derivatives, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating to the Adoption of Coinbase Derivatives, LLC's Rules Governing Cash Settled Futures on Individual Equity Securities and Exchange-Traded Fund Shares, Including Perpetual Single-Stock Futures - Type: Notice - Agencies: Securities and Exchange Commission - Citation: 91 FR 60448 - Published: 2026-09-23 - Effective: 2026-09-18 - Comments close: not stated - Significant: no - Touches household money: yes - Regulation identifier numbers: none - Last updated: 2026-09-30 ## In one line Coinbase Unleashes Never-Ending Stock Futures on Traders ## Summary Coinbase Derivatives, LLC is rolling out new rules to trade cash-settled futures on individual stocks and ETFs, including exciting perpetual single-stock futures. This change affects traders and investors who want more ways to trade these products, with the rules effective immediately after filing on September 18, 2026. The move could open fresh opportunities in the market, pending final approval from the Commodity Futures Trading Commission. ## Effects PRIA read - New Perpetual Single-Stock Futures Listed: benefit, medium. Coinbase Derivatives filed rules to list and trade cash-settled perpetual futures on individual equity securities and exchange-traded fund (ETF) shares, including perpetual single-stock futures. The contracts have no fixed expiration date, are cash settled, do not convey ownership of the underlying… - Strict Listing Eligibility Thresholds: cost, medium. To be eligible as an underlying, a security must meet strict thresholds including estimated deliverable supply over 20 million shares, a minimum market capitalization of at least $100 billion for initial listing, and a minimum average daily value of transactions (ADVT) of at least $450 million over… - Position Limits Set at 200,000 Contracts: cost, medium. Each Contract will be subject to position limits set at 200,000 contracts in the context of 100-share contracts (or the equivalent for other contract sizes), and because the Contracts have no fixed expiration, those limits apply at all times. The Exchange will review limits at least semi-annually a… - Nearly Continuous Trading Hours: benefit, low. Contracts will trade from Sunday at 20:00 Eastern Time through Friday at 17:00 Eastern Time, except during holidays, maintenance windows, or other periods specified by the Exchange. The Exchange may further modify trading hours by rule or notice. - Funding Payments and Funding Rate Rules: mixed, medium. Open positions in Contracts are subject to Funding Payments determined by a Funding Rate methodology set in each Contract's Product Appendix; Funding Payments may be processed through the Clearing House as cash adjustments separate from variation margin. The Exchange may suspend, defer, modify, or… - Who May Solicit or Accept Orders: cost, low. Only futures commission merchants, introducing brokers, commodity trading advisors, commodity pool operators, or associated persons subject to suitability rules comparable to a national securities association registered under Section 15A(a) of the Exchange Act may solicit, accept any order for, or… - Corporate Action Adjustment Rules: benefit, low. The Exchange will publish Corporate Action Circulars describing treatment of corporate events. Ordinary cash dividends will have no adjustment; stock splits and similar events adjust open position quantity and reference price to preserve economic exposure; special cash dividends, rights offerings,… - Planned Wind-Down Notice Requirement: benefit, low. For planned wind-downs, terminations, or delistings of a Contract, the Exchange will provide no less than 10 Business Days' notice except where shorter notice is necessary to protect investors or maintain fair and orderly markets. The Exchange will use the last trading day's Daily Settlement Price… - Clearing Will Be Through Nodal Clear: cost, medium. All Contracts shall be cleared by the Clearing House (Nodal Clear, LLC, or any successor designated by the Exchange) and the Exchange will maintain linked clearing arrangements and risk-management procedures; the Clearing House retains authority under its own rules over margin collection, settlemen… ## Related documents - [2026-20466](https://policyrisk.com/federal-register/2026-20466): Adviser and Regulated Fund Custody Rules; Crypto Custody Rules, 2026-10-06 - [2026-19260](https://policyrisk.com/federal-register/2026-19260): Rescission of Rule 14a-8's Federal Regulation of Shareholder Proposals and Amendments to Rule 14a-4, 2026-09-21 - [2026-18424](https://policyrisk.com/federal-register/2026-18424): Political Contributions by Certain Investment Advisers, 2026-09-10 - [2026-18190](https://policyrisk.com/federal-register/2026-18190): Transfer Agent Rules, 2026-09-04 - [2026-17183](https://policyrisk.com/federal-register/2026-17183): Regulation Crypto Assets, 2026-08-21 - [2026-12163](https://policyrisk.com/federal-register/2026-12163): The Trade-Through Rule and Locked and Crossed Markets Provisions of Regulation NMS, 2026-06-17 ## Sources - [2026-19407 on federalregister.gov](https://www.federalregister.gov/documents/2026/09/23/2026-19407/self-regulatory-organizations-coinbase-derivatives-llc-notice-of-filing-and-immediate-effectiveness) - [2026-19407 as published (PDF)](https://www.govinfo.gov/content/pkg/FR-2026-09-23/pdf/2026-19407.pdf) ## Related - [Previous: 2026-19406, Renewal of the MCC Economic Advisory Council and Call for Nominations](https://policyrisk.com/federal-register/2026-19406) - [Next: 2026-19408, Self-Regulatory Organizations; Bitnomial Exchange, LLC; Notice of a Filing of a…](https://policyrisk.com/federal-register/2026-19408) - [All Federal Register documents](https://policyrisk.com/federal-register) Source: PRIA, https://policyrisk.com/federal-register/2026-19407 (as of 2026-09-30).