CFTC 24/7 Trading & Perpetual Energy Contracts

Current understanding

The CFTC has opened a request for comment on the regulatory implications of extending standard energy futures contracts to continuous 24/7 trading and on listing perpetual contracts referencing physically delivered or storable energy commodities such as crude oil. Both market structures — long common in crypto derivatives — have not previously been formally addressed by the Commission for traditional commodities. Status: request for comment (pre-rule); no framework has been adopted.

Evidence log

• 2026-07-28 — Request for Comment on the Extension of Standard Futures Contracts to 24/7 Trading and on Perpetual Contracts Referencing Physically Delivered or Storable Energy Commodities: CFTC extended the RFC comment period by 30 days and added questions on CME NYMEX’s self-certified 24/7 oil contract that the Commission had stayed. (novelty: 2) (novelty: 2)
• 2026-06-24 — Joint Request for Comment on Further Definition of “Swap” and “Security-Based Swap” and on Alternative Compliance: cross-connection with swap-security-based-swap-definitions: Both address how innovative derivatives products (perpetuals, hybrid instruments) fit within existing CFTC/SEC regulatory categories. (novelty: 2)

Open questions

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