The CFTC is considering to block CME from launching 24/7 oil futures trading

BlockBeats News, June 15th, according to Bloomberg, the U.S. Commodity Futures Trading Commission (CFTC) is considering whether to block the Chicago Mercantile Exchange Group (CME Group Inc.) from launching its application for a 24/7 oil contract, escalating tensions between the market giant and its regulatory agency. The CFTC's main concerns include high volatility during non-trading hours (such as geopolitical events), challenges in market surveillance, risk management, etc.

The Chicago Mercantile Exchange Group announced on Thursday that it will introduce round-the-clock trading for some crude oil and gold futures contracts. A senior executive at an institution, who requested anonymity to discuss the confidential deliberations, said this news has taken the U.S. derivatives regulator by surprise.