The US Commodity Futures Trading Commission considers blocking CME Group Inc. from launching 7x24 hour oil contracts

According to Bloomberg, the US Commodity Futures Trading Commission (CFTC) is considering whether to block CME Group Inc.'s application to launch all-weather oil contracts. The concerns of CFTC include high volatility during non trading hours, difficulty in market monitoring, and risk management. CME Group Inc. announced on Thursday that it will launch 7x24 hour trading in some crude oil and gold futures contracts, which surprised US derivatives regulators.