The Return of Security Futures- What CME's Single Stock Futures Mean for Broker-Dealers and FCMs

Short summary

CME plans to launch cash-settled single stock futures on 55 individual equities, marking the first US security futures listing since OneChicago closed in 2020. The dual SEC/CFTC regulatory framework creates complex compliance obligations for broker-dealer and FCM intermediaries, including cross-registration requirements and overlapping margin and supervisory rules. The CFMA's cross-licensing mechanism offers some streamlining but significant regulatory navigation remains.

• •CME launching cash-settled single stock futures on 55 equities covering 55-65% of S&P 500 and Nasdaq-100
• •First US security futures listing since OneChicago's 2020 closure; dual SEC/CFTC jurisdiction applies
• •BD/FCM intermediaries face complex cross-registration, parallel margin regimes, and duplicative supervisory rules

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