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CME Group's Bid to Launch 24/7 Crude Oil Futures Contract Blocked by CFTC

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CME Group's (CME) attempt to list a self-certified, round-the-clock crude oil futures contract has been blocked by the US Commodity Futures Trading Commission, the regulator said Thursday.

The listing would have allowed the Chicago Mercantile Exchange to initiate 24/7 trading on crude oil futures as soon as Friday.

The commission said that CME's move to self-certify the listing despite an ongoing public comment period regarding the risks related to facilitating after-hours commodity trading was "wholly inappropriate."

CFTC said it will bar CME from listing such contracts before it has determined they comply with regulations.

CME Group did not immediately reply to anrequest for comment.

CME shares were 2.3% lower in Thursday trading.

Price: $237.50, Change: $-5.57, Percent Change: -2.29%

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