MarketVector Indexes™ (“MarketVector”), a pioneer in continuous equity indexing specializing in thematic equity and digital assets, today announced that Paragon, a perpetual futures platform on Hyperliquid, has licensed the MarketVector™ US Listed Semiconductor 25 Continuous Index (MVCSMH) to underlie perpetual futures, bringing a custom 24/5 version of MarketVector’s flagship semiconductor benchmark to Hyperliquid for the first time.
Developed for Paragon, the US continuous index uses Pyth Network’s real-time pricing infrastructure to extend calculation into overnight and pre- and post-market sessions. This marks the first extension of calculation hours for MarketVector’s flagship US-listed semiconductor benchmark, MVIS® US Listed Semiconductor 25 Index (MVSMH).
More than US$75 billion in assets track MarketVector’s flagship US-listed semiconductor benchmark, with linked fund and ETF products trading across global markets and time zones. As MarketVector’s first client on Hyperliquid, Paragon adds to that ecosystem through perpetual futures that reference the index directly, rather than an exposure through derivative prices.
“Paragon didn’t want to take a short cut, and neither do we. Utilizing MVCSMH, not just an ETF proxy, as a smarter structure for traders. Building a custom 24/5 version to make it work on Hyperliquid is exactly the kind of problem we love to solve for,” said Raline Sexton, Director of Digital Asset Business Strategy at MarketVector Indexes.
“Referencing the index directly ties the contract to the benchmark’s methodology, without incorporating fund-level expenses, tracking differences or premiums and discounts associated with an ETF,” said Josh Kaplan, Head of Research & Investment Strategy at MarketVector Indexes. “Working with Pyth and Paragon, we have created a transparent version of our flagship semiconductor benchmark that extends its calculation across more of the global trading day.”
The collaboration builds on MarketVector’s continuous equity indexing framework, introduced with Pyth and Coinbase across AI, China, defense and innovators. By adapting an established flagship benchmark for onchain derivatives, MarketVector continues to connect traditional finance and decentralized markets, developing custom indexes that meet clients’ evolving product and trading needs.
“Paragon is a market creator for front-of-mind trades,” said Taha El-Magbri, Founder of Paragon. “Semiconductors are at the center of the AI buildout, and the MarketVector™ US Listed Semiconductor 25 Continuous Index brings the largest and most liquid US-listed semiconductor companies into one benchmark. Together with MarketVector, we’re turning that established benchmark into a market that trades 24/7 on Hyperliquid.”
For more information about MarketVector indexes, visit www.marketvector.com.
About MarketVector Indexes
MarketVector Indexes™ (“MarketVector”) develops and administers indexes used as benchmarks for financial products globally. The company is incorporated in Germany and maintains indexes under the MarketVector™, MVIS®, and BlueStar® names. MarketVector operates in line with the International Organization of Securities Commissions (IOSCO) “Principles for Financial Benchmarks” and recognized industry best practices. With a mission to accelerate index innovation globally, MarketVector is best known for its broad suite of Thematic indexes, a long-running expertise in Hard Asset-linked Equity indexes, and its pioneering Digital Asset index family. MarketVector is proud to be in partnership with more than 25 Exchange-Traded Product (ETP) issuers and index fund managers in markets throughout the world, with more than US$180 Billion in assets under management.
About Paragon
Paragon turns measurable ideas into tradable exposures on Hyperliquid. Today, it offers perpetual futures across equities, rates, pre-IPO companies and crypto, providing 24/7 access to front-of-mind trades. The company develops proprietary indices, licenses established benchmarks and operates in-house oracle infrastructure to produce the price feeds behind its markets. It works with leading global market makers to support liquidity from launch.
Website: paragon.trade
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