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

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.

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SOURCE CME Group