CME Group Suspends Plans to Launch 24/7 10-Barrel Crude Oil Contract

Industry participants raised concerns about additional market risk from introducing around-the-clock energy trading without further due diligence.

Rhea-AI Summary

CME Group (CME) is suspending plans to launch a new 10-Barrel Crude Oil futures contract designed for around-the-clock trading.

The company said discussions with industry participants identified concerns that introducing 24/7 energy trading without further due diligence could create unintended consequences and additional market risk. CME Group is withdrawing its filing to launch the product at this time. The planned contract was intended to operate within U.S. jurisdiction and CFTC oversight.

Positive

• None.

Negative

• Minor point10-Barrel Crude Oil futures launch suspended; CME Group is withdrawing its filing at this time.
• Minor point. Forward-looking: it has not happened yet and may not happen.24/7 energy trading could add market risk without further due diligence, CME Group said industry participants warned.

Key Figures

Contract size: 10 barrels Trading schedule: 24/7

Contract size

10 barrels

Planned crude oil futures contract; launch filing withdrawn

Trading schedule

24/7

Planned crude oil contract; launch filing withdrawn

Key Terms

cftc, virtual private networks

2 terms

cftc regulatory

"within the U.S. jurisdiction and CFTC oversight"

The CFTC is the U.S. government agency that oversees trading in futures, options and swaps — financial contracts that let people bet on or hedge future prices of commodities, interest rates and other assets. Think of it as a market referee and safety inspector: it sets rules, monitors trading for fraud or manipulation, and enforces penalties, which matters to investors because its actions influence market fairness, transparency, and systemic risk.

virtual private networks technical

"via virtual private networks"

A virtual private network (VPN) is a service or technology that creates an encrypted 'tunnel' between a user’s device and a remote server or corporate network so that internet traffic is sent securely and can appear to originate from the VPN server’s location. VPNs work by authenticating the user or device, encrypting data in transit, and routing traffic through the provider’s servers; they protect data on public networks and can mask a device’s IP address, but they do not by themselves secure the device against malware or guarantee complete anonymity or compliance with regulatory requirements.

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CHICAGO, Oct. 2, 2026 /PRNewswire/ -- Today, CME Group provided the following statement about its plans to suspend launch of a new 10-Barrel Crude Oil futures contract:

"Providing efficient, regulated markets that allow our clients to cost-effectively manage business risk is always our top priority at CME Group," said CME Group Chairman and Chief Executive Terry Duffy. "We created and planned to launch a 10-Barrel oil contract to provide a transparent, regulated alternative to the 24/7 oil contracts that other venues have introduced in the marketplace. Whether as onshore prediction markets or offshore perpetuals, which are illegal for U.S. participants but may be accessed despite their illegality via virtual private networks, these energy products already trade around the clock, primarily for retail participants.

"We had hoped to provide a safer, more transparent alternative, within the U.S. jurisdiction and CFTC oversight. However, based on extensive conversations with industry participants, we have determined that key constituents are concerned that introducing 24/7 trading in energy without further due diligence could create unintended consequences, possibly introducing additional risk in the marketplace.

"Therefore, we are withdrawing our filing to launch this product at this time. We hope the CFTC will address the inequity, reestablish the level playing field that has made U.S. financial markets the envy of the world, and ensure all derivatives products meet the standards the law requires, in compliance with the core principles of the Commodity Exchange Act."

As the world's leading derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, cryptocurrencies, energy, agricultural products and metals.  The company offers futures and options on futures trading through the CMEGlobex platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform.  In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing. 

CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and E-mini are trademarks of Chicago Mercantile Exchange Inc.  CBOT and Chicago Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc.  NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc.  COMEX is a trademark of Commodity Exchange, Inc. BrokerTec is a trademark of BrokerTec Americas LLC and EBS is a trademark of EBS Group LTD. The S&P 500 Index is a product of S&P Dow Jones Indices LLC ("S&P DJI"). "S&P®", "S&P 500®", "SPY®", "SPX®", US 500 and The 500 are trademarks of Standard & Poor's Financial Services LLC; Dow Jones®, DJIA® and Dow Jones Industrial Average are service and/or trademarks of Dow Jones Trademark Holdings LLC. These trademarks have been licensed for use by Chicago Mercantile Exchange Inc. Futures contracts based on the S&P 500 Index are not sponsored, endorsed, marketed, or promoted by S&P DJI, and S&P DJI makes no representation regarding the advisability of investing in  such products. All other trademarks are the property of their respective owners.

CME-G

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SOURCE CME Group

FAQ

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Why is CME Group suspending its 24/7 10-Barrel Crude Oil futures launch?

CME Group said industry discussions revealed concerns that introducing 24/7 energy trading without further due diligence could create unintended consequences and additional market risk. It is withdrawing its filing to launch the product at this time.