cointelegraph.com
US-based crypto exchange Kraken has added an S&P 500 perpetual product to its proprietary trading program, giving funded traders round-the-clock exposure to the US equity benchmark.
According to a company blog post on Wednesday, the product is structured as a perpetual priced off an index oracle tracking the S&P 500, rather than a standardized futures contract, meaning it has no expiration date or rollover requirement.
The S&P 500 joins the Nasdaq 100 as the second traditional market available through Kraken Prop, with the company planning to add commodities as part of a broader multi-asset rollout. Traders can access the S&P 500 market across Kraken Prop’s evaluation and funded accounts with up to 5x leverage and a maximum notional exposure of $1 million, according to the company.
Kraken Prop allows traders to purchase an evaluation and, if they meet the program’s requirements, qualify to trade with Kraken capital. Evaluation plans start at $20, with funded account sizes ranging from $5,000 to $200,000.
The launch follows Kraken’s move in July to offer retail investors access to Jersey Mike’s initial public offering through direct share allocations in the US and tokenized shares in more than 110 countries, as the exchange continues to expand its traditional financial products.