TREE NEWS update: CME Group has shelved plans for a round-the-clock crude oil futures contract after commercial customers said they did not want to staff trading desks on weekends, CEO Terry Duffy said. The exchange scrapped the planned launch earlier this month after the CFTC blocked its application in July. Duffy warned that the absence of such markets is pushing participants toward illegal offshore trading venues.
CME Shelves 24/7 Crude Oil Futures as Customers Balk at Weekend Desks
AI take
The retreat shows that extending derivatives trading to weekends is as much an operational staffing question as a market-structure one, and commercial hedgers' reluctance to cover weekends is a real constraint on round-the-clock energy futures. The CFTC's earlier block and the customer pushback together leave a gap that Duffy says is being filled offshore, which matters for regulated price discovery in crude. Whether that offshore flow is meaningful, and whether the exchange revisits the format, is the open question.
Generated by AI for reference only.
Share on WeChat
Open WeChat → Scan → then tap "…" to send to a chat or Moments.
Tap "…" in the top-right corner to send to a chat or share to Moments.
Related News
1m ago
Dollar Rises 0.10% Against Yen to 158.31 in New York Late Trading
2m ago
Trump Says US Closer to Ending Russia-Ukraine Conflict
2m ago
CME CEO Duffy: Geopolitical Tensions Weigh Too Heavily on US Inflation
11m ago
Drone Strike Hits Saudi Aramco Oil Field, Killing Two
12m ago
Paris Police Ban Protests in Parts of City for 12 Hours on Oct 22
15m ago
US State Department Prepares Gulf Embassy Evacuations Over Yemen Houthi Threat