SFC Eyes Framework for Hong Kong Perpetual Crypto Contracts (HKEX, BTC, ETH)

The Hong Kong Securities and Futures Commission (SFC) is set to publish a high-level framework enabling trading platforms to offer perpetual futures contracts, according to SFC CEO Julia Leung, released Feb 11, 2026. These products will initially be available only to institutional investors, with a focus on risk management and fairness. The SFC will also allow brokers to provide financing to eligible clients, with collateral backed by bitcoin (BTC) and ether (ETH), as volatility in virtual assets necessitates a cautious approach. Market-making through independent units will be required to mitigate conflicts of interest.