Stock perps avoid trading halt as judge questions CFTC authority

A federal judge has rejected an emergency request to halt US stock perpetual futures while finding that the challengers are likely to succeed in arguing that the CFTC exceeded its legal authority. Stock perpetual futures avoided an emergency trading halt in a lawsuit backed by Cboe and Citadel Securities. Judge Valerie Caproni found the challengers likely to succeed on their claim against the CFTC. The court denied immediate relief because the alliance failed to demonstrate imminent, irreparable harm. The CFTC’s preliminary injunction response is due Nov. 6, with the alliance’s reply due Nov. 10. According to the Southern District of New York’s Nov.

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