⚡ JUST IN !!!
CFTC CONSIDERS BLOCKING CME FROM LAUNCHING 24/7 CRUDE OIL CONTRACTS 🛢️🚫
Regulatory Concerns ⚠️: According to Bloomberg, the CFTC is considering whether to block CME Group's application to launch 24/7 crude oil contracts, as officials worry it could exacerbate extreme volatility during periods of geopolitical tension.
Unexpected Announcement ❗: CME's announcement last Thursday regarding its plan to introduce 24/7 gold and crude oil futures caught the CFTC by surprise. The new contract, one-tenth the size of existing micro WTI futures, is slated for an August 30 launch pending regulatory review.
Rising Tensions 🌐: A week earlier, CME's CEO had voiced "serious concerns" over the CFTC clearing a path for crypto perpetual contracts. The CFTC stated it would evaluate perpetual contract applications on a case-by-case basis, noting that certain assets may not be suitable for such products.
