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Wu said that the U.S. Commodity Futures Trading Commission (CFTC) announced it will suspend CME's self-certification process for launching 24/7 crude oil futures contracts. CFTC Chairman Michael Selig stated that regulators are still evaluating whether implementing round-the-clock trading across different asset classes complies with the Commodity Exchange Act and core regulatory principles, and that it is "completely inappropriate" for CME to advance such products during the public comment period. The CFTC will continue to review the product through the formal approval process, and CME must not launch the relevant contracts until the review is completed. Previously, CME planned to launch mini crude oil futures contracts that trade 24 hours a day, 7 days a week this August, in response to the trend of round-the-clock trading.