Trade.xyz Launches CXMT IPO Perpetual Futures on Hyperliquid as Shanghai Listing Limits Global Access
Updated
Updated · Bloomberg · Jul 15
Trade.xyz Launches CXMT IPO Perpetual Futures on Hyperliquid as Shanghai Listing Limits Global Access
1 articles · Updated · Bloomberg · Jul 15
Summary
Trade.xyz has rolled out a perpetual futures contract on the Hyperliquid blockchain tied to the expected share price of Chinese memory-chip maker CXMT ahead of its IPO.
The product gives investors a way to express bullish or bearish views before CXMT begins trading, creating a pre-IPO market around one of Asia's biggest planned listings.
CXMT's Shanghai IPO is largely restricted to onshore investors, making the shares difficult for many global investors to buy directly and helping explain demand for a synthetic alternative.