The CFTC asked the public to weigh in on running standard futures around the clock and on listing perpetual contracts tied to physically delivered energy commodities such as crude oil. The request opens the door to importing the crypto-native perpetual design into the oil and gas derivatives markets.
The Commodity Futures Trading Commission issued the request for comment Monday afternoon, organizing it around two questions. The first asks how standard futures, including energy futures, would function on a 24/7 schedule with no change to their fixed expiration, delivery, or settlement terms. The second asks what happens when perpetual contracts reference physically delivered or storable energy commodities. Comments are due within 30 days of the notice's publication in the Federal Register, per the CFTC release.
The filing is a request for comment, a procedural step that gathers input ahead of any rulemaking rather than a proposed rule with regulatory text attached. The agency says it "intends to use the information and comments received to inform its understanding of these developments."
Chairman Michael Selig framed the move as supporting new market designs without loosening guardrails. "As registered entities extend trading hours and introduce new contract designs, a clear, data-driven record will help the Commission better understand these developments' implications and impact in the market," Selig said in the release. He added that the request "reflects the Commission's commitment to supporting responsible innovation, while preserving the protections against manipulation and market disruption that participants and the public rely on."
