S&P 500 contracts are now available for trading purposes on HyperLiquid as per an official press release on Wednesday. TradeXYZ, the largest market on HyperLiquid with a $100 billion volume, will be offering exposure to the S&P500, allowing for round-the-clock trading.
“This collaboration expands access and utility of our flagship benchmarks within digital trading environments. We believe digitally-native investors should demand the institutional-quality standards that define our indices, and we are thrilled to work with Trade[XYZ] to do so,” said Chief Product and Operations Officer at S&P 500 indices, Cameron Drinkwater.
The update signals a higher level of adoption between traditional and non-traditional finance, following the NYSE’s (New York Stock Exchange) decision to develop a tokenised exchange that would allow 24/7 trading.
“We developed XYZ with a vision of bringing the world’s most important markets on-chain. The S&P 500 is a natural starting point. It represents the most widely tracked equity index on earth and has been the defining benchmark for global equities for decades,” said Chief Operating Officer Collins Belton.
“Through our collaboration with S&P DJI, an S&P 500 perpetual contract is now accessible 24/7 on Hyperliquid, bringing us one step closer to that vision,” he also said.
With the new integration, users of TradeXYZ can now access traditional investment options outside of trading hours without having to go through regular exchanges. At the time of writing, HyperLiquid tokens were trading at $39.63.