The Commodity Futures Trading Commission has halted CME Group’s attempt to launch 24/7 trading for crude oil futures, saying the proposal requires further regulatory review before it can go live.
The exchange had filed to self-certify the new contract on July 8, a mechanism that would normally allow it to begin trading without prior approval from the regulator.
The CFTC intervened because it is currently examining whether continuous futures trading is suitable across various markets, including energy contracts.
The agency opened a public comment period in June to evaluate the legal, operational, and market implications of extending traditional futures trading to a 24/7 schedule and said CME should not proceed until that process is complete.
Although the commission has suspended the self-certification, it will continue reviewing CME’s parallel application submitted through the agency’s formal approval process.
