On April 22, the Market Supervision, Clearing and Risk, and Market Participants Division of the US Commodity Futures Trading Commission (CFTC) jointly issued a “Notice for Soliciting Opinions” aimed at comprehensively evaluating the potential application scenarios, advantages, and risks of implementing a 24/7 (24/7) trading model in the derivatives market under its supervision. Caroline D. Fan, acting chairman of the CFTC, said: ‘The CFTC must respond to market structural changes with a forward-looking perspective, ensuring market vitality and resilience while safeguarding the rights of all participants.’. The current market is showing a trend of expanding towards 24/7, 24/6, or 24/5 trading hours, and we look forward to receiving opinions or suggestions from all sectors regarding this innovation. The key points of this opinion solicitation include: the differentiated impact of the extension of the CFTC regulated derivatives market to 24/7 trading on trading clearing and risk management systems, the challenges that the 24/7 trading model may pose to market integrity, customer protection, and retail trading risk matching clearing systems in a continuous operating environment.
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