CME Group plans to introduce round-the-clock oil trading in the U.S. to counter growing impact from decentralized finance platforms.
CME Group CEO Terry Duffy announced plans to launch a 24/7 oil trading market in the U.S., citing the rising influence of decentralized finance (DeFi) platforms. Duffy stated that these platforms, though not legally accessible to U.S. participants without workarounds like VPNs, are already shaping traditional financial markets.
The proposal follows observations that DeFi markets operate continuously, contrasting with traditional exchanges’ limited hours. Duffy suggested that 24/7 trading could eventually become standard across all financial markets to maintain competitiveness.
No immediate market reaction was reported following the announcement, which was made during a CFTC meeting on August 20.