The U.S. Commodity Futures Trading Commission (CFTC) is evaluating a proposal from CME Group Inc. to introduce round-the-clock trading for certain crude and gold futures contracts. This move has reportedly caught the derivatives regulator by surprise, with a senior agency official indicating that the CFTC is considering blocking the initiative.
Concerns have been raised that 24-hour trading for crude oil, in particular, might exacerbate already extreme volatility, especially during periods of geopolitical instability. This suggests an underlying tension between market innovation and regulatory oversight regarding potential impacts on market stability.
Previously in April 2025, the CFTC, under Acting Chairman Caroline Pham, sought public comment on allowing 24/7 trading in derivatives markets more broadly, emphasizing a forward-looking approach to market structure while ensuring market vibrancy, resilience, and participant protection. This earlier request for comment highlighted the evolving trend towards continuous trading hours (24/7, 24/6, or 24/5).
More recently, in May 2026, CFTC staff issued an advisory regarding 24/7 trading, clearing, and settlement. While encouraging responsible innovation, the advisory reminded entities of their regulatory obligations. It also distinguished between asset classes, noting that crypto assets might be well-suited for 24/7 trading due to their digital nature, whereas agricultural products might be less suitable due to their specific customer bases and regional characteristics.
