CFTC Stays CME 24/7 WTI Oil Futures for 45-Day Review, CME Shares Fall 2.1%

On July 9 the CFTC stayed CME Group’s self-certified 10-barrel WTI crude oil futures contract, blocking 24/7 trading plans slated to start as soon as Friday. CME had filed for expedited listing on July 8 while a public comment period on round-the-clock futures remained open. Regulators cited precedent and infrastructure concerns, moving the application into a formal 45-day review. CME shares fell about 2.1% intraday, extending friction between the exchange and CFTC that also includes a pending crypto-derivatives lawsuit.