CME Group Halts Plans for 24/7 10-Barrel Crude Oil Futures
CME Group has suspended its planned launch of a new 10-barrel crude oil futures contract designed for around-the-clock trading.
CME Group announced Friday it is suspending plans to launch a new 10-barrel crude oil futures contract that had been designed to trade 24 hours a day, seven days a week, according to a statement released by the Chicago-based derivatives exchange.
The company framed the decision around its core mission of providing regulated, cost-effective markets for risk management, though the brief statement stopped short of detailing the specific business or regulatory factors that led to the suspension. No revised timeline for a potential future launch was offered.
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The proposed contract would have represented a significantly smaller unit size than CME's standard 1,000-barrel West Texas Intermediate crude oil futures, a format that has attracted interest in recent years as exchanges globally explore ways to broaden access to commodity derivatives markets for a wider range of participants.
The move signals at least a temporary retreat from efforts to extend round-the-clock liquidity in oil futures, a product segment that has drawn increasing attention as energy markets react to geopolitical and macroeconomic developments at all hours. Rival venues and regulators have been watching such innovations closely amid ongoing debates about market stability and oversight in after-hours sessions.
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