CME Group reportedly withdraws filing for 24/7 10-barrel crude oil futures contract
CME•CME Group reportedly withdrew its filing for a 10-barrel crude oil futures contract, citing industry concerns about risks from round-the-clock energy trading.
1. Futures contract withdrawn
CME Group said it was withdrawing its filing to launch a 10-barrel crude oil futures contract. CEO Terry Duffy said industry participants were concerned that introducing 24/7 energy trading without further due diligence could have unintended consequences and add risk to the marketplace. CME said it hoped the CFTC would address what it called an uneven regulatory playing field and ensure derivatives products complied with Commodity Exchange Act standards.
