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Energy

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Energy

Mini WTI Crude Oil Futures

WTI (West Texas Intermediary) is one of the premier oil benchmarks in the world. The use of WTI as a pricing mechanism extends far beyond its local and refined export markets. With production accounting for over 10% of global demand, and pricing accounting for over 25% of global supply, the DGCX mini WTI futures contract provides accessibility to the global energy market to a wider range of participants.

 

Contract

Parameters

Contract Symbol

DWTIM

Underlying

DGCX Mini West Texas Intermediate Light Sweet Crude Oil Futures

Contract Size

100 barrels (4,200 gallons)

Notional Contract Value

USD 100 X DGCX West Texas Intermediate Light Sweet Crude Oil Futures

Trading Currency

USD

Settlement Currency

USD

Price Quote

US Dollars and Cents per barrel

Tick Size

USD 0.01 per barrel (US$ 1 per tick)

Tick Value

USD1

Settlement Basis

Cash Only Settlement Contract

Final Cash Settlement Price

The front month settlement price for WTI Crude Oil futures as made public by NYMEX for the Last Day of Trading of the DGCX front month contract

Last Day of Trading

Last Day of Trading shall be the fourth US business day prior to the 25th calendar day of the month that precedes the Delivery Month. If the 25th calendar day is not a US business day; Last Day of Trading shall be the fourth US business day prior to the US business day that precedes the 25th calendar day. If the fourth US business day is not a DGCX Business Day, then the preceding DGCX Business Day shall be the Last Day of Trading

Trading Days

Monday through to Friday

Trading Hours

DGCX Trading Hours

Trading Months

Twelve consecutive months plus ten contract months consisting of June and December months will be listed for an additional five calendar years

New Contract Listing

Business day immediately following the last trading day

Max Order Size

5,000 contracts for banks and institutions promoted by banks. All other entities 2,000 contracts

EFP / EFS / Block Trades

As per DGCX By-Laws. Minimum block size permitted is 100 contracts.

Time Limit for EFP / EFS / Block Trade Registration

Up to 5 minutes after cessation of trading on any trading day

Initial Margin based on SPAN

USD 400 per lot (subject to change)

Extra Margin

At times of high volatility, an extra margin, as deemed fit by the Exchange, may be charged.

Calendar Spread Margin

100% benefit is offered on calendar spread positions

Daily Price Movement limit

No Limits - Note 1*

Note 1*: There will be no limits on intra-day price movements, however to restrict data-entry errors the system will not allow entry of orders having prices higher or lower than US$ 3 as compared to the Previous Close Price. Exchange shall relax the intra-day price range for the prices of the contract approaching the US$ 3 limit