Mr. Lawyer

S&P Dow Jones Indices and trade[XYZ] have joined forces to launch the first official S&P 500 perpetual contract, available exclusively on Hyperliquid. For 69 years, the S&P 500 has been a defining reference point for global finance. Until now, access to that benchmark has been shaped by market hours, intermediaries, and geography. Today, that changes. The S&P 500 perp is now available 24/7/365, anchored by the official index data required for deep liquidity and institutional confidence at scale.  SPDJI helped define modern indexing. They are stewards of an iconic benchmark, the standard against which portfolios across the globe are measured. We are honored to bring that legacy on-chain. Trade[XYZ] is bringing the world's most iconic assets towards a future of global, continuous markets — a future powered by Hyperliquid.

S&P Dow Jones Indices and trade[XYZ] have joined forces to launch the first official S&P 500 perpetual contract, available exclusively on Hyperliquid. For 69 years, the S&P 500 has been a defining reference point for global finance. Until now, access to that benchmark has been shaped by market hours, intermediaries, and geography. Today, that changes. The S&P 500 perp is now available 24/7/365, anchored by the official index data required for deep liquidity and institutional confidence at scale.  SPDJI helped define modern indexing. They are stewards of an iconic benchmark, the standard against which portfolios across the globe are measured. We are honored to bring that legacy on-chain. Trade[XYZ] is bringing the world's most iconic assets towards a future of global, continuous markets — a future powered by Hyperliquid.

Introducing the Pyth 24/7 Oil Index: Continuous Oil Pricing for Global Markets The first continuous composite oil price designed for markets that trade 24/7. Until today, no such index existed anywhere in the world. Now it does 🛢️ 🧵

pyth literally launched the world's first 24/7 oil price index

One question that we need to get clarity on (and I plan to ask the commission) is whether private round instruments, sold before the token goes live, amount to investment contracts or some other security or none at all. If all that’s being sold is a prepaid commodity forward contract, then there should be no issue in secondary markets when the token goes live. But if these instruments are found to be securities, then issuers will need to be careful to limit their disclosures to investors to only getting the token up to and through a public launch so that the promises fall off when the token goes live, and the token can trade freely in public secondary markets with no investment contract attached.