Trade.xyz Launches JIO Pre-IPO Perpetual Contract Trading, Will Convert to Standard XYZ Perpetual Contracts After IPO

Odaily reports that Trade.xyz has announced the launch of the JIO pre-IPO perpetual contract IPOP market.

It is understood that JIO corresponds to 1 ordinary share of Jio Platforms Limited, denominated in USD, and currently operates as a pre-IPO market reflecting expected market share prices. It is expected that after Jio Platforms completes its IPO, JIO will convert into a standard XYZ perpetual contract, and the oracle will at that time convert the underlying stock's rupee price into a USD price based on the real-time USD/INR exchange rate.

Jio Platforms primarily provides digital connectivity and digital services in India.