CFTC Solicits Public Feedback on 24/7 Futures Trading and Energy Perpetual Contracts

The Commodity Futures Trading Commission (CFTC) has published a request for public comment exploring two emerging developments in the energy derivatives markets: the expansion of standard futures contracts to continuous 24/7 trading and the prospective listing of perpetual contracts referencing physically delivered or storable energy commodities, such as crude oil. The Commission's inquiry is divided into two primary areas. The first section examines the transition of standard futures contracts, including energy futures, to a 24/7 trading schedule without altering their fixed expiration dates, while assessing potential material economic impacts on delivery or settlement terms. The second focus area evaluates the introduction of perpetual contracts tied to physically delivered or storable energy products. CFTC Chairman Michael S. Selig noted that creating a data-driven record is critical as registered trading venues expand market hours and develop new contract structures. Selig stated that the request reflects the regulator's commitment to accommodating responsible market innovation while maintaining core protections against disruption and market manipulation. The regulator plans to use the feedback gathered through this process to guide its oversight and understanding of these market mechanisms. Public comments must be submitted in writing within 30 days of the request's official publication in the Federal Register.