CME targets May launch for 24/7 crypto derivatives trading
As both the SEC and CFTC explore 24/7 trading hours for US capital markets, several traditional financial exchanges file to expand hours in anticipation of such a move.
CME Group, the world’s largest derivatives exchange, said Thursday that crypto options and futures contracts will begin trading 24 hours a day, seven days a week on May 29, pending regulatory approval.
“CME Group Cryptocurrency futures and options will trade continuously on CME Globex with at least a two-hour weekly maintenance period over the weekend,” according to the parent of The Chicago Mercantile Exchange’s announcement.
All trading activity on market holidays and weekends will be cleared, settled and posted the following business day, with regulatory reporting also filed on the following day, CME Group said.