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U.S. regulators plan to block the CME Group's application to launch a 24-hour oil futures contract.
律动Jul 9, 2026
On July 9, the U.S. Commodity Futures Trading Commission (CFTC) plans to block the Chicago Mercantile Exchange’s (CME) application to rapidly list around-the-clock (24x7) oil futures contracts, citing concerns that energy markets are not yet prepared to handle a flood of such round-the-clock derivatives contracts. In June, CME stated it plans to offer 24x7 trading for a new futures contract tied to West Texas Intermediate (WTI) crude oil, with each contract representing 10 barrels, arguing that investors want to manage their positions “whenever news breaks.”
On Wednesday, CME submitted a self-certification application for this new product—meaning the CFTC has only one day to intervene before the contract can be listed and traded. According to sources familiar with the matter, the CFTC plans to block CME’s self-certification.CFTC Chairman Michael Selig has met in recent weeks with executives from energy companies including Shell, Vitol, BP, and ExxonMobil. Another application by CME for the same product—which is subject to a 45-day review period—remains under regulatory review.[BlockBeats]
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