CME Group is shrinking some of its most important commodity contracts while keeping the markets open almost all the time. The exchange is rolling out a new mini WTI crude oil future and turning its 1-ounce gold contract into a true 24/7 product, pending regulatory review.
CME Group announced it will launch a new 10-barrel WTI Crude Oil futures contract on August 30, subject to approval. The company said the contract will be one-tenth the size of its current Micro WTI futures, making it just 1/100th the size of the standard benchmark WTI contract.
In its press release, CME explained that the smaller contract “allows for more precise hedging and expanded market access,” especially for traders who cannot or do not want to post margin for larger lots. CME will list the new cash-settled contract on NYMEX and trade it on CME Globex on a 24/7 schedule, including weekends, except for short maintenance windows. Analysts say that the setup should help both retail traders and smaller commercial players manage oil risk around the clock.
1-Ounce Gold Futures Shift To 24/7
CME is also changing how its smallest gold contract trades. The group said its existing 1-ounce Gold futures will move to full 24/7 trading starting July 26, pending regulatory approval.
Right now, gold futures already trade nearly 24 hours a day on CME Globex. The new model will cover weekends too. This change will create always-on access for continuous price discovery, as the exchange put it.
The cash-settled, 1-ounce contract listed on COMEX offers a much smaller size than CME’s standard 100-ounce gold futures. CME said the updated hours will let traders respond immediately to geopolitical shocks, central bank headlines, and macro data that often drop outside U.S. business hours.
CME already runs 24/7 markets for some crypto and event-based products. It is now extending that model to key commodity benchmarks.
In the announcement, the company said its new oil and gold offerings provide traders with regulated instruments. These instruments are appropriately sized and available 24/7. They allow traders to manage their risk exposure as news develops.
Smaller, cash-settled 10-barrel WTI and 1-ounce gold contracts may attract traders accustomed to nonstop, bite-sized crypto markets.
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