The Commodity Futures Trading Commission (CFTC) requests public input on expanding U.S. derivatives trading to a 24/7 schedule and introducing perpetual futures.
This move reflects a broader shift toward modernizing market structures in response to evolving trading behaviors and global trends.
Push toward round-the-clock trading gains momentum
Acting Chairman Caroline Pham emphasized adapting to market innovations to maintain resilient and competitive markets. She referenced the growing interest in extended trading hours, including 24/5, 24/6, and 24/7 models. The CFTC’s inquiry follows similar steps by the Securities and Exchange Commission (SEC), which recently approved 24 Exchanges to offer nearly full-day trading, operating 23 hours per day during weekdays.
Nasdaq has also shown interest in expanding its trading window, and brokerage platforms like Robinhood already allow 24-hour trading throughout the workweek for retail clients. These developments suggest an increasing demand for more flexible access to financial markets.
CFTC considers perpetual futures amid crypto growth
The CFTC also seeks public opinion on allowing perpetual futures contracts in U.S. markets. These instruments, widely used in global digital asset trading, do not expire and are continuously settled throughout the day. While their structure differs from standard derivatives contracts, they have gained popularity among crypto traders for offering constant exposure.
In the United States, perpetual futures remain mostly inaccessible, although regulatory attitudes toward digital assets have shifted under the Trump administration. The CFTC acknowledged that the unique features of perpetual contracts raise new considerations related to risk management and trade clearing. Coinbase recently announced plans to introduce perpetual-style crypto futures and support 24/7 trading through its derivatives exchange.
Korea exchange advances night trading and new products
Various major markets worldwide continue to extend their market hours after the United States. The Korea Exchange plans to introduce night trading operations, which will begin during June. With the new system implementation, users will now have access to trading during twelve hours, extending from 6 PM to 6 AM. KOSPI 200 futures and options together with key products will relocate from the Europe-based Eurex platform to establish their home on Korea’s own domestic exchange. The Korea Exchange has set plans to introduce new trading products encompassing U.S. dollar futures and government bond futures. This strategy works toward better global market competitiveness while establishing flexible methods for risk management across daytime and nighttime financial periods worldwide.