Raises concerns over perpetual stock futures… SIFMA requests permission to submit amicus brief to court

The American Securities Association (ASA) has asked a federal court to let it file an amicus brief backing the Capital Markets Alliance’s bid for a preliminary injunction and stay of single-stock perpetual futures, arguing the products expose retail investors to losses. The Nov. 10 filing in the Southern District of New York notes plaintiffs consented while defendants opposed the timing, citing insufficient time to respond; the request itself does not halt trading. The dispute centers on whether perpetual-style single-stock futures should face the same regulatory treatment as standard futures. What to watch next is whether Judge’s court grants the brief and, more importantly, rules on the underlying injunction request that could determine whether the products remain available to retail traders.