The Commodity Futures Trading Commission opened a formal comment period on two emerging market structures: 24/7 trading windows for standard energy futures and the use of perpetual contracts that settle continuously. The move follows lobbying by major energy firms worried that offshore exchanges and unchecked leverage could amplify systemic risk. Regulators aim to gauge how these products might reshape liquidity and oversight.

Industry participants argue that round‑the‑clock trading would align U.S. markets with overseas platforms that already operate nonstop, potentially attracting foreign capital and smoothing price gaps caused by daylight‑saving closures. Conversely, consumer groups caution that perpetual contracts, which never expire, may encourage speculative positions far beyond the physical delivery horizon, complicating margin enforcement and raising compliance costs for clearing houses.

By soliciting public feedback, CFTC signals intent to craft rules that balance innovation with risk mitigation. Any eventual framework could affect trading volumes on exchanges such as NYMEX and CME, alter the cost structure for hedge funds, and reshape how oil and gas producers manage price exposure. Stakeholders now have a narrow window to shape the final regulatory language.