CME chief cites Hyperliquid in push for round-the-clock oil trading
Regulation & Gov ·
CME CEO Terry Duffy told a CFTC meeting that decentralized platforms are already reshaping how traditional markets operate, prompting CME to pursue continuous oil trading.
Speaking at the CFTC gathering on August 20, Duffy said CME intends to introduce a 24/7 U.S. oil trading market, pointing to decentralized finance venues as a driving force behind the shift, according to a post detailing the remarks. Hyperliquid was named as one such platform already exerting influence on established financial infrastructure.
Duffy's argument centers on accessibility rather than formal legality. He acknowledged that U.S. participants are not permitted to trade on these decentralized markets under current rules, but noted that individuals can still reach them through VPNs, meaning restrictions have not stopped the underlying market effects from reaching traditional finance, a point elaborated in a wublockchain.xyz report on the meeting.
The comments reflect a broader expectation from Duffy that continuous, always-on trading will eventually become standard practice across financial markets generally, not just in crypto-adjacent venues. His framing suggests CME's oil initiative is less a standalone product decision and more a response to competitive pressure created by platforms operating outside conventional market hours.
The account of the remarks has circulated through at least two distinct sources, both attributing the statement to Duffy's appearance at the CFTC meeting on August 20. No timeline for CME's 24/7 oil market launch, regulatory approval status, or further detail on which decentralized platforms besides Hyperliquid were referenced has been disclosed.
What remains unclear is how CME plans to structure continuous trading operationally, whether the CFTC responded substantively to the proposal during the meeting, and whether other traditional exchanges will follow with similar announcements. Duffy's broader prediction that always-on markets will become the norm also lacks a specified timeframe or scope beyond the oil market example.