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Updated · Bloomberg · Jul 9CFTC Blocks CME's 24/7 Oil Futures Launch Before Aug. 30 Start
3 articles · Updated · Bloomberg · Jul 9Summary
- Thursday's CFTC decision stopped CME Group from fast-tracking a new oil futures contract that could have begun trading as soon as Friday.
- The blocked product was CME's smaller-sized, round-the-clock oil futures offering, which the exchange announced in June with an Aug. 30 launch date.
- The move prevents CME from immediately expanding oil trading to a 24/7 schedule, leaving the planned launch subject to regulatory approval.
Insights
After fast-tracking 24/7 crypto futures, why is the CFTC now halting the same for oil markets? Are outdated payment systems the true barrier preventing traditional financial markets from ever operating 24/7?