ICE, OKX to offer perpetual Brent and WTI oil futures

Intercontinental Exchange will supply Brent and West Texas Intermediate benchmark prices to crypto exchange OKX for perpetual oil futures, the companies announced. The contracts will be offered in jurisdictions where OKX holds licenses to list perpetual trading.

Perpetual futures carry no set expiration date, allowing traders to hold positions indefinitely without rolling contracts or taking physical delivery of oil. These instruments use funding-rate mechanisms to keep contract prices aligned with spot benchmarks.

The arrangement expands a strategic collaboration between ICE and OKX announced earlier this year, which includes work on blockchain systems intended to connect traditional trading infrastructure with digital markets. ICE is the owner of the New York Stock Exchange and has pursued partnerships that link conventional finance systems with digital asset platforms.

OKX estimates it serves about 120 million users and said the ICE-backed contracts will provide those users access to widely recognized energy benchmarks in licensed markets.

Haider Rafique, OKX’s global managing partner, stated, “Oil markets are critical to the world economy.” He said tying ICE pricing benchmarks to regulated perpetual products creates a bridge between traditional and digital financial markets that traders have sought.

Perpetual contracts that began in crypto trading have spread into commodities, equities and foreign exchange. Some decentralized venues have started offering perpetuals tied to crude oil and other real-world assets, prompting scrutiny from established exchange operators.

Established exchanges including ICE and CME Group have urged U.S. regulators for more oversight of platforms offering derivatives tied to real-world assets. The Commodity Futures Trading Commission has increased scrutiny of crypto-linked derivatives and perpetual contracts, focusing on market integrity and investor protection.

The ICE-OKX contracts will trade where local rules allow and OKX holds the required licenses. ICE will provide the benchmark pricing reference while OKX will operate the crypto-native trading interface that supports perpetual contract mechanics and leverage.