CFTC Seeks Comment on 24/7 Energy Futures and Perpetual Contracts

The Commodity Futures Trading Commission has issued a request for comment on two energy derivatives market developments: extending standard futures contracts to 24/7 trading, and listing perpetual contracts that reference physically delivered or storable energy commodities such as crude oil.

The agency said the first set of questions concerns standard futures contracts, including energy futures, that would move to a 24/7 schedule without changing fixed expiration or material delivery and settlement economics. The second set concerns perpetual contracts linked to physical or storable energy commodities.

The CFTC said it intends to use the comments to better understand the implications for market design, manipulation risk, and market disruption safeguards. Written comments are due within 30 days of the request’s publication in the Federal Register.

Why it matters

Energy futures already matter to retail and professional traders because crude oil, natural gas, and related spreads can move sharply outside traditional US market hours. A shift toward 24/7 trading could change liquidity patterns, margin monitoring, broker risk controls, and how traders manage weekend event risk.

Perpetual-style products tied to physical commodities would also raise different questions from crypto perpetuals, because delivery, storage, and spot-market integrity can directly affect settlement and manipulation controls.

What to watch next

Traders should watch the comment file for exchange, clearinghouse, and market-maker responses. The most important signals will be around liquidity obligations, settlement design, surveillance, and whether brokers can support round-the-clock risk management without creating new client-protection gaps.