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.
Paired with the DGCX’s existing USD currency suite, the Mini WTI futures contract will draw a stronger appeal to existing contracts on other global exchanges which are of a larger size. The DGCX Mini WTI contract size will help facilitate price discovery by new market participants, offering protection and hedging opportunities to all.
- Trade your views, tax free on the international Crude oil market
- Arbitrage opportunity with global commodity exchanges as well as existing DGCX WTI futures contract.
- Low cost structure with 100% trading margin credit against the major DGCX WTI futures contract and on spread contracts too.
- Greater access to international energy markets with clear, understandable regulations
- Unique trading opportunity in the region to participate in global oil markets
- Smaller contract size, ideal for optimal risk control
- USD denominated, Cash settled with a tick size of USD $1
- Tax Free – No transaction Tax and Zero Capital Gains tax
- Market hours encompassing the largest global liquidity pools
- Basis 100 Barrels contract, traded on a secure regulated marketplace
Contract Parameters Contract Symbol DWTIM Underlying DGCX Mini West Texas Intermediate Light Sweet Crude Oil Futures Contract Size 100 barrels (4,200 gallons) Notional Contract Value USD 100 X DGCX West Texas Intermediate Light Sweet Crude Oil Futures Trading Currency USD Settlement Currency USD Price Quote US Dollars and Cents per barrel Tick Size USD 0.01 per barrel (US$ 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
Expiry Month Expiry Code Last Trading Day Nov'18 DWTIM-20181019 19 Oct 2018 Dec'18 DWTIM-20181116 16 Nov 2018 Jan'19 DWTIM-20181218 18 Dec 2018 Feb'19 DWTIM-20190118 18 Jan 2019 Mar'19 DWTIM-20190219 19 Feb 2019 Apr'19 DWTIM-20190319 19 Mar 2019 May'19 DWTIM-20190418 18 Apr 2019 Jun'19 DWTIM-20190520 20 May 2019 Jul'19 DWTIM-20190619 19 Jun 2019 Aug'19 DWTIM-20190719 19 Jul 2019 Sep'19 DWTIM-20190819 19 Aug 2019 Oct'19 DWTIM-20190919 19 Sep 2019