Sen. Gillibrand's Son Raises $30M for CFTC/SEC-Regulated Equity Perps Exchange

According to Fortune on June 18, Theodore Gillibrand raised $30 million in funding for American Perpetuals Exchange Corporation at an estimated $300 million valuation, with the round led by New York-based venture firm Lux Capital.

The startup plans to file for a Designated Contract Market (DCM) license with dual CFTC and Securities Exchange Commission oversight to offer perpetual futures on single-name equities, according to a June 4 memo from the SEC. APEC also intends to apply for a Derivatives Clearing Organization (DCO) license to clear transactions in-house. This comes as the CFTC and SEC collaborate on a "harmonization" strategy to unify regulation of novel markets including crypto and perpetuals.