Coinbase applied to the SEC to list stock perpetual contracts, aiming to provide round-the-clock trading

Can trading continue after the stock market closing bell rings? Coinbase is submitting an answer to this question to the SEC.

As the largest cryptocurrency exchange in the United States, Coinbase is currently seeking approval from the SEC to list stock perpetual contract products with 24-hour uninterrupted trading. Perpetual contracts (perpetuals) were originally a common trading tool in the cryptocurrency derivatives market. They have no expiration date and can hold positions for a long time. Now Coinbase wants to introduce this mechanism into the stock-related product line.

Putting the words "perpetual" and "stock" together is a signal in itself: traditional stock markets have fixed opening and closing times, but what Coinbase wants to do is to allow stock-linked transactions to continue on weekends and late at night. This also explains why the document was sent to the securities regulator SEC, rather than the familiar commodity futures regulatory route.

The current public information is only that Coinbase has filed an application with the SEC. There is no review result, product details or launch timetable yet.