Leading tokenized asset firm Ondo Finance is pressing American regulators to open the door for perpetual futures on individual stocks, telling both the Securities and Exchange Commission(SEC) and the Commodity Futures Trading Commission(CFTC) that the current legal framework for security futures already supports these instruments without requiring fresh rulemaking.The push came in the form of three comment letters submitted to the two agencies on August 24. In them, Ondo laid out a case that perpetual contracts, which unlike traditional futures never expire, can still satisfy the legal definition of a security futures product under existing law.Central to Ondo’s argument is the mechanism of funding payments. In a conventional futures contract, an expiration date forces convergence between the contract price and the price of the underlying asset. Perpetual futures skip that expiration entirely, instead relying on periodic funding payments exchanged between long and short position holders to keep the contract price tethered to the spot price. Ondo says this ongoing adjustment process achieves the same convergence goal that expiration dates are meant to accomplish, just continuously rather than at a fixed point in time.“Nothing in the statutory definition of a security futures product requires a fixed expiration date,” the firm wrote in its letter addressing product classification. It further argued that combining funding rates with mark-to-market margining, both already standard tools under current securities law, gives regulators everything they need to treat perpetuals as compliant instruments rather than a regulatory gray area.Ondo also took aim at the question of market oversight and record-keeping. The company argued that because these products would be built on blockchain infrastructure, transaction data would already be recorded transparently onchain, removing the need for the kind of separate, parallel reporting systems that regulators might otherwise require.Beyond the legal and technical arguments, Ondo described the request as a matter of bringing trading activity back onto US soil. The firm pointed out that the stocks referenced by many offshore perpetual futures products are primarily traded on American exchanges in the first place. “Bringing that activity back to the U.S. should not be an open question; it’s something both agencies should actively pursue,” the company stated in its filing.Uniswap Discloses Assets Ahead of Fee Mechanism VoteBrightFunded Review: Multi-Asset Prop FirmBest AI Crypto Projects | Check NOW!3Commas vs CryptoHopper vs Mudrex