MFA submitted a comment letter to the Commodity Futures Trading Commission (CFTC) regarding their proposal to allow 24/7 trading. The letter cautioned the CFTC and other regulators against premature action, warning that if they move to 24/7 trading before trading infrastructure is fully prepared, there could be unintended consequences affecting the liquidity and efficiency of U.S. financial markets.
MFA argued that extending trading hours could create challenges relating to:
- System resilience
- Operational continuity without downtime
- Continuous market surveillance
- Clearing and margin practices outside banking hours
- Regulatory constraints
- Collateral management
