Sen. Gillibrand’s son is building a perps exchange that wants dual CFTC, SEC oversight: report

The American Perpetuals Exchange Corporation raised $30 million at a $300 million valuation, Fortune reported on Thursday.

• Theodore Gillibrand, son of Senator Kirsten Gillibrand, has raised $30 million for American Perpetuals Exchange Corporation (APEC) at a $300 million valuation.
• APEC plans to seek joint CFTC and SEC oversight for listing single-name equity perpetuals, aiming for a Designated Contract Market license with a special exemption.
• The venture highlights the ongoing regulatory discussions and efforts to establish regulated U.S. venues for perpetuals trading, contrasting with offshore platforms.

Topics: Legal regulatory, Institutional adoption, Jurisdictions, Securities law classification, Licensing issuer obligations, Established hubs, Regulatory sandboxes pilots

Tags: #americanperpetualsexchangecorporation #theodoregillibrand #cftc #sec #perpsexchange #equityperpetuals #regulatoryharmonization #luxcapital #designatedcontractmarket #derivativesclearingorganization

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