CME Group Withdraws Filing for 24/7 Micro Crude Contract

04:33 PM EDT, 10/02/2026 (MT Newswires) -- CME Group (CME) said Friday it is withdrawing its filing to launch a 10-Barrel Crude Oil futures contract, saying key market participants are concerned that introducing 24/7 trading in energy without further due diligence could create unintended consequences and add risk to the marketplace. "Based on extensive conversations with industry participants, we have determined that key constituents are concerned," Chairman and CEO Terry Duffy said in a statement Friday. CME had planned the contract as a regulated, transparent alternative to round-the-clock oil products offered by other venues, including onshore prediction markets and offshore perpetuals, which Duffy said are illegal for US participants but can be accessed through virtual private networks. Duffy said he hopes the Commodity Futures Trading Commission will "address the inequity" and ensure all derivatives products meet the standards required under the Commodity Exchange Act.