CME · Earnings call · 2026Q3T · Full report

24/7 Energy Trading Regulatory Risk

CME GROUP INC. · 2026-10-21 · Importance 25 · Surprise 42

CME withdrew its application for a 24/7 small 10-barrel oil contract after the CFTC stay and industry pushback. Management said commercial participants did not want to staff an additional desk, and CME will hold off listing the contract until those participants are more comfortable. Terry Duffy also questioned how the agency ensures U.S. participants comply with U.S. law when some are trading overseas on VPNs; he said broader 24/7 trading of primary products depends on the U.S. banking system developing the infrastructure to support it.

Key facts

• CME Group withdrew its 10-Barrel WTI 24/7 filing after the CFTC stay and industry pushback, and said it would hold off listing the contract until commercial participants were more comfortable.
• CME Group said commercial participants did not want to staff another desk for 24/7 oil trading and acknowledged the cost of moving products to 24/7.
• CME Group's 24/7 small 10-barrel oil contract was intended to let the marketplace hedge over weekends.