CFTC Considers Blocking CME Group's 24/7 Oil Contract Proposal
The US Commodity Futures Trading Commission (CFTC) is deliberating whether to approve or block CME Group Inc.'s proposal to launch a round-the-clock oil contract. This ongoing consideration has reportedly elevated tensions between CME Group, a prominent market operator, and its regulatory body. The outcome of the CFTC's review will determine the future of the proposed 24/7 trading offering.
The US Commodity Futures Trading Commission (CFTC) is currently evaluating a bid from CME Group Inc. to introduce a 24/7 oil contract. The regulatory body is considering whether to block this proposal, a development that has reportedly heightened tensions between the market stalwart and its regulator.
CME Group's initiative aims to establish continuous trading for an oil contract. The CFTC's review of this bid underscores the ongoing oversight and regulatory scrutiny faced by major market operators.
According to Bloomberg Markets, the CFTC's decision on this matter will be a significant point of interaction between CME Group and its federal regulator.
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