CFTC Considers Blocking CME’s 24/7 Crude Oil Contract Launch Plan

TechFlow reports that on June 15, according to Bloomberg, the U.S. Commodity Futures Trading Commission (CFTC) is considering blocking the Chicago Mercantile Exchange (CME Group)’s plan to launch around-the-clock crude oil and gold futures contracts. CME previously announced its intention to launch 24-hour, seven-day-a-week crude oil and gold futures contracts; however, this announcement caught the CFTC by surprise, escalating tensions between the two parties.