CFTC stalls CME Group’s 24/7 crude oil futures launch

CFTC Chairman Michael S. Selig issued a sharp rebuke regarding the move, labeling the exchange’s decision to bypass collaborative review as inappropriate. The agency is currently analyzing whether round-the-clock operations align with core regulatory principles, noting that different asset classes require distinct oversight rather than a uniform approach. This intervention highlights a growing friction between the regulator and the exchange, following CME’s earlier legal challenge against the CFTC over the approval of crypto perpetual futures for Kalshi.

Despite this regulatory roadblock, CME maintains its timeline for other initiatives. The exchange intends to roll out its Treasury Link platform in the fourth quarter of 2026, pending final approval. This project aims to bridge U.S. Treasury futures with the cash market, allowing for integrated execution. For now, however, the crude oil contract remains frozen while the commission continues its assessment of the broader risks associated with uninterrupted derivatives trading.