CFTC to block CME's plan for 24/7 crude oil futures trading

CME

09/07/2026 16:45

    July 9 (Reuters) - The U.S. Commodity Futures Trading Commission (CFTC) said on Thursday it would exercise its authority to stay the listing of a contract that would have allowed CME Group CME.O to initiate 24/7 trading on crude oil futures as soon as Friday.
The move comes after CME sought to self-certify the contract on July 8, despite an ongoing public comment period on the extension of standard futures contracts to round-the-clock trading, including crude oil.
CME Group, the world's leading derivatives marketplace, had announced in June that it would offer 24/7 trading in some crude and gold futures contracts, pending regulatory review.
CFTC Chairman Michael Selig said the commission was still examining whether 24/7 trading of futures contracts on various asset classes was consistent with its statutory Core Principles.
"We do not take a one-size-fits-all approach to 24/7 trading," Selig added in a statement.
The commission said its regulations offer exchanges two methods to list contracts — self certification and seeking a review and approval. "CME made simultaneous, but separate filings under both provisions."
CFTC said it would conduct a thorough review of the product filings and bar CME from listing such contracts before determining they comply with the Commodity Exchange Act and Commission regulations.

 (Reporting by Pooja Menon in Bengaluru; Editing by Joyjeet Das)
 ((Pooja.Menon@thomsonreuters.com;))