Scope Prime has launched around-the-clock CFD trading for Brent and WTI crude oil, becoming one of the first prime-of-prime brokers to offer continuous OTC liquidity in energy markets. The rollout follows its successful 24/7 precious metals products introduced earlier this year and comes while CME Group’s proposed continuous oil futures contract remains stalled under regulatory review by the CFTC.
The institutional service targets brokers and funds managing energy exposure outside traditional exchange hours, when critical price-moving events frequently occur. CEO Daniel Lawrance noted oil was chosen due to acute market needs, as OPEC+ decisions, sanctions announcements, and infrastructure disruptions often happen during weekend closures when hedging is impossible. This creates margin risk and potential negative balance exposure for brokers holding client positions through price gaps.
The timing capitalizes on growing industry momentum toward continuous commodity trading, with several OTC and crypto venues already expanding weekend access to oil products while CME awaits regulatory clearance for its competing futures contract.
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FXnCO Insight
** Brokers with weekend energy exposure now have an alternative hedging solution while CME’s regulated offering remains sidelined, potentially shifting institutional liquidity toward OTC channels.
Source: Finance Magnates