CFTC Halts CME Crude Oil Futures 24/7 Trading Contracts Planned for July 11 Launch

According to CFTC announcement reported by PANews on July 10, the U.S. Commodity Futures Trading Commission (CFTC) halted the Chicago Mercantile Exchange (CME) crude oil futures 24/7 trading contracts originally scheduled to launch as early as July 11. The CFTC stated it is exercising its authority to suspend the contracts pending regulatory review, citing that the public comment period on such contract expansions remains open. CME submitted self-certification for the contracts on July 8.

CFTC Chair Michael S. Selig stated the commission is reviewing whether 24/7 trading aligns with statutory core principles. The CFTC will conduct thorough review of the product filing under applicable regulations before allowing CME to list such contracts.