Lighter (LIT) Gains 21%; Exchange Plans Two CFTC Registrations

Lighter plans to apply for two U.S. derivatives registrations in November 2026, putting its proposed trading and clearing operations for perpetual futures and options on a path toward regulatory review. At 3:55 p.m. ET (19:55 UTC) Oct. 21, LIT was priced at $3.88, 21.3% above its level 24 hours earlier. Its high and low over the same span were $3.97 and $3.21. On an Oct. 21 third-quarter investor call, Lighter founder and CEO Vladimir Novakovski said the exchange intends to apply to the Commodity Futures Trading Commission (CFTC) for designated contract market (DCM) and derivatives clearing organization (DCO) registrations. The DCM status would cover the trading venue, while the DCO registration would cover clearing. The applications have not been filed, and neither registration has been approved.

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