Market News: US regulators will block CME Group's application to accelerate the listing of a 24-hour oil contract, citing concerns that the energy market is not yet ready for a large influx of round-the-clock derivatives.

[PANews]

On July 9, according to market news, the CFTC blocked the CME’s plan to offer 24/7 oil futures trading.

[BlockBeats]

CFTC blocks CME's plan to offer 24/7 oil futures trading

July 9th, according to market sources, the CFTC has blocked CME's plan to offer 24/7 oil futures trading.

[BlockBeats]

CFTC Blocks CME's Plan to Offer 24/7 Oil Futures Trading

ME News reports that on July 9 (UTC+8), according to Jinteng Data, the U.S. Commodity Futures Trading Commission (CFTC) plans to block the Chicago Mercantile Exchange (CME) from quickly listing its 24x7 oil contract application, due to concerns that the energy market is not yet ready to handle a large influx of 24x7 derivatives contracts.

In June, CME stated its intention to offer 24x7 trading for a futures contract tied to WTI crude oil, denominated in 10-barrel units, citing investor desire 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, otherwise the contract will be available for trading.

According to people familiar with the matter, the CFTC plans to block CME's self-certification. CFTC Chairman Michael Selig has met with executives from energy companies such as Shell, Vitol, BP, and ExxonMobil in recent weeks.

Another application submitted by CME for the same product, which requires a 45-day review period, is still under regulatory review.

[Foresight News]

U.S. regulators plan to block CME's round-the-clock oil contracts from launching quickly

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 contracts, citing concerns that energy markets are not yet prepared to handle a surge of such 24x7 derivative contracts.

In June, CME stated its intention to offer 24x7 trading for a new futures contract tied to 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 for trading. 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 CME application for the same product—which requires a 45-day review period—remains under regulatory review.

[ChainCatcher]

US regulators propose to block CME's application to launch 24-hour oil contracts

According to JIN10 Data, the U.S. Commodity Futures Trading Commission (CFTC) plans to block CME Group's (CME) application to quickly list 24/7 oil contracts, citing concerns that the energy market is not yet ready for a large influx of round-the-clock derivatives contracts.

CME stated in June that it planned to offer 24/7 trading for a 10-barrel futures contract tied to WTI crude oil, citing investor desire to manage their positions "whenever news breaks." On Wednesday, CME submitted a self-certification application for the new product, meaning the CFTC has only one day to intervene, or the contract will be available for trading.

According to people familiar with the matter, the CFTC plans to block CME's self-certification. CFTC Chairman Michael Selig has met with executives from energy companies such as Shell, Vitol, BP, and ExxonMobil in recent weeks. Another application submitted by CME for the same product, which requires a 45-day review period, is still under regulatory review.

[Foresight News]

US regulators propose to block CME's 24/7 oil contract from rapid listing

U.S. regulators will block the CME Group&#39;s application to expedite the listing of 24-hour oil contracts, citing concerns that the energy market is not yet prepared for a large influx of all-day derivatives. [Odaily Planet Daily]

U.S. regulators will block the CME Group’s accelerated application to list 24-hour oil futures contracts.

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]

U.S. regulators plan to block the CME Group's application to launch a 24-hour oil futures contract.

US regulators will block CME Group's application to launch a 24-hour oil futures contract, citing concerns that the energy market is not ready to cope with an influx of around-the-clock derivatives.

[BlockBeats]

U.S. Regulatory Agency to Block CME's 24-Hour Oil Futures Contract Launch

U.S. regulators will block the CME Group's application to accelerate the listing of its 24-hour oil futures contract.

On July 9, according to the Financial Times (UK), U.S. regulators will block the CME Group’s application to accelerate the listing of its 24-hour oil futures contract, citing concerns that the energy market is not yet prepared to handle a large influx of around-the-clock derivatives. (Jin10)

[TechFlow]

US regulators propose to block CME's application to launch a 24-hour oil contract

市场消息：美国监管机构将阻止芝商所加速上市24小时石油合约的申请，原因是担忧能源市场尚未准备好应对大量全天候衍生品的涌入。

[PANews]

美国监管机构将阻止芝商所加速上市24小时石油合约的申请

市場訊息：美國監管機構將阻止芝商所加速上市24小時石油合約的申請，原因是擔憂能源市場尚未準備好應對大量全天候衍生品的湧入。

[PANews]