Chicago Mercantile Exchange (CME) has paused the launch of a 10-barrel crude oil futures contract designed for around-the-clock trading and has withdrawn the related filing, according to Techub News. The move followed opposition from industry participants. Market participants had raised concerns that thin weekend liquidity could distort West Texas Intermediate (WTI) crude pricing. They also said continuous trading could add pressure tied to weekend staffing, commercial hedging, and margin calls outside normal business hours. CME said the product had been intended to offer a U.S.-regulated alternative to 24-hour crude trading products already available through domestic prediction markets and offshore platforms. The item cited Wu Blockchain as the source.
Chicago Mercantile Exchange (CME) has paused the rollout of a 10-barrel crude oil futures contract for round-the-clock trading and withdrawn the related filing after opposition from industry participants, according to Techub News.
Market participants said limited weekend liquidity could distort pricing for West Texas Intermediate (WTI) crude. They also pointed to added pressure from weekend staffing needs, commercial hedging, and margin calls outside regular business hours if trading were to continue without interruption.
CME said the contract had originally been designed to provide a U.S.-regulated alternative to 24-hour crude trading products already offered by domestic prediction markets and offshore platforms.
The report cited Wu Blockchain.
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