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The Commodity Futures Trading Commission plans to block CME Group's attempt to fast-track approval of oil futures contracts designed to trade around the clock, according to reports.
The anticipated move comes after CME Group, the world's biggest derivatives exchange, filed a lawsuit against the CFTC over the agency's approval of crypto products.
CFTC plans to deny the fast-track request CME Group sought an expedited approval route to list round-the-clock oil futures.
Standard oil contracts trade during defined market hours; a continuous version would extend that access.
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