SEI perpetual contracts launched on the CFTC regulated OG.com market

According to The Defiant, the perpetual contract for Sei Network's native token SEI has been launched for trading on OG.com Markets. The exchange is operated by the North American Derivatives Exchange (Nadex) and is regulated by the U.S. Commodity Futures Trading Commission (CFTC), providing U.S. investors with a compliant channel to access SEI with leverage. Sei officially stated that this is "another compliant way to acquire SEI."

The contract was self-certified by the exchange on October 8, and the CFTC product registry has listed it as a certified product, originally scheduled to be listed on October 12. Trading records from October 16 show two transactions of 100 SEI each at 4:54 PM Eastern Time on that day. The contract is settled in U.S. dollars and has no expiration date, allowing traders to maintain long or short positions without rolling over. Clients must access through a CFTC-registered futures commission merchant or an associated introducing broker.

Each contract represents 1 SEI, with a minimum trading unit of 100 contracts, and trading occurs around the clock. The funding fees for both long and short positions are calculated every eight hours, with a maximum rate of 2% per period, aimed at aligning the futures price with the CF Sei-Dollar spot rate managed by CF Benchmarks. The contract is settled twice daily at noon and 5 PM Eastern Time. Traders are required to pay the initial margin based on the risk benchmark in U.S. dollars, and the exchange's notification indicates that the initial margin range for its crypto perpetual contract product line is between 15% and 30%.