CME Group Suspends Plan for 24/7 Crude Oil Futures Contract

The Chicago Mercantile Exchange Group has decided to suspend its plan to launch a 24/7 crude oil futures contract due to industry opposition. Market participants are concerned that insufficient liquidity over the weekend could distort WTI crude pricing, and continuous trading would increase pressure on weekend staffing, commercial hedging, and additional margin requirements during non-business hours. CEO Terry Duffy stated that after extensive communication, it was found that core market participants generally have concerns, believing that introducing around-the-clock energy trading without conducting sufficient due diligence could lead to unforeseen consequences and pose additional risks to the market.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.