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

MetaEraJul 9, 2026
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]

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

MetaEraJul 9, 2026
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]

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