The U.S. Commodity Futures Trading Commission plans to block CME Group’s self-certification to list a 24x7 WTI-linked futures contract, citing concern that energy markets are not prepared for a surge of around-the-clock derivatives. CME filed the self-cert Wednesday for a 10-barrel WTI contract; under self-certification the CFTC had one business day to object and sources say the regulator intends to intervene. CME said investors want the ability to manage positions at any time. CFTC chair Michae

The U.S. Commodity Futures Trading Commission plans to block CME Group’s self-certification to list a 24x7 WTI-linked futures contract, citing concern that energy markets are not prepared for a surge of around-the-clock derivatives. CME filed the self-cert Wednesday for a 10-barrel WTI contract; under self-certification the CFTC had one business day to object and sources say the regulator intends to intervene. CME said investors want the ability to manage positions at any time. CFTC chair Michael Selig has recently met with executives from Shell, Vitol, BP and ExxonMobil. A separate CME filing for the same product subject to a 45-day review remains under regulator consideration.