CME Group Suspends Plans to Launch 24/7 10-Barrel Crude Oil Contract
CME Group announced it is suspending plans to launch its new 24/7 10-Barrel Crude Oil futures contract and withdrawing its filing with the CFTC. CEO Terry Duffy said the contract was intended as a transparent, CFTC-regulated alternative to offshore perpetuals and onshore prediction markets serving retail 24/7 energy trading, but key industry constituents raised concerns that 24/7 energy trading without further due diligence could introduce unintended market risks.
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