CNBC
21 Aug 2026, 12:32 UTC · 4h ago
NewsImpactScreener rates every claim in this story for market impact and maps it to the tickers most exposed.
What the story claims
4 claims · each scored for market impact
President Trump indicated a path toward CFTC regulation of Hyperliquid, potentially expanding regulated perpetual futures to traditional assets like stocks and commodities. — Regulated perps directly threaten the 'roll' revenue stream and business models of traditional exchanges like CME and Cboe.
-0.80Decentralized perp trading is seeing massive scale, with Hyperliquid recording nearly $200 billion in notional volume last month. — High adoption of decentralized alternatives reduces the moat and pricing power of centralized legacy exchanges.
-0.50Traditional exchanges including CME and Cboe are preparing specifications to launch their own perpetual-style products if demand shifts. — Adaptation allows incumbents to mitigate disruption and capture new retail/institutional flows.
+0.40Continue reading
6 related stories
Search tags
Institutional interest in perpetuals is growing, with market-maker Marex Group expanding its offerings to support client demand for the asset class. — Institutional adoption signals a shift from a retail niche to a permanent fixture of the derivatives market.
+0.30Which stocks this story touches
Facing disruption of its business model and revenue from 'roll' derivatives by perpetual futures.
Market value declined as investors worry perpetual futures disrupt traditional exchange economics.
Combined market value hit by the rise of perpetuals, though it is attempting to launch similar products.
Already offering crypto perpetuals to European customers, positioning it ahead of some incumbents.
Mentioned as a key player bringing visibility to the growing perpetual futures asset class.
Mentioned as a pioneer of 24/5 trading without a specific current catalyst.
[mutual] Both are traditional exchanges facing disruption from perpetual futures.
[mutual] Both are traditional exchanges facing disruption from perpetual futures.
[mutual] Both are traditional exchanges facing disruption from perpetual futures.
Free · No account
Get a free daily PDF briefing — the last 24 hours of news, with summaries and the market-impact score for each story, delivered an hour before the open.
We’ll watch
Pre-filled from this story — remove any you don’t want. Add more tickers & tags or fine-tune your watchlist anytime — every email has an edit link, no account needed.
Free forever · one email a day, max · unsubscribe in one click.How it works
How the impact breaks down
Where the story's weight lands
Stocks most exposed
Modeled from each name's sensitivity to this story
Newsfile Corp
12h ago
NYTimes
21h ago
[mutual] Crypto exchanges like Coinbase are highlighted as participants in the emerging perp field disrupting traditional exchanges.
[mutual] Robinhood is offering crypto perpetuals, competing with the product offerings of traditional exchanges.
