Overview
- A joint announcement on May 22, 2026 said ICE will license its Brent and WTI futures prices as the reference for perpetual (never-expiring) oil contracts that OKX will list on its platform.
- The contracts use the crypto-style perpetual structure with funding payments so traders can hold positions without expiry or physical delivery.
- Trading will begin only where OKX already holds perpetual-futures licenses, making initial availability likely outside the United States.
- The launch positions ICE and OKX as a regulated alternative to crypto-native venues such as Hyperliquid, which has shown very large daily volumes for oil perps.
- The product is the first concrete output of ICE’s March strategic investment in OKX and comes as U.S. regulators, led by the CFTC, signal plans to bring perpetuals under oversight and probes into suspicious oil trading activity proceed.