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 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 WTI futures contract will draw a stronger appeal to existing contracts on other global exchanges which are of a larger size. The DGCX WTI contract 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 Mini WTI Futures contract.
- Low cost structure with 100% trading margin credit against the major DGCX Mini WTI Futures contract, as well as the main WTI contract spreads.
- Greater access to international energy markets with clear, understandable regulations
- Unique trading opportunity in the region to participate in global oil markets
- Larger contract size in line with other global exchanges
- USD denominated, Cash settled with a tick size of USD $10
- Tax Free – No transaction Tax and Zero Capital Gains tax
- Market hours encompassing the largest global liquidity pools
- Basis 1,000 Barrels contract, traded on a secure regulated marketplace
Contract Parameters Contract Symbol DWTI Underlying DGCX West Texas Intermediate Light Sweet Crude Oil Futures Contract Size 1,000 barrels (42,000 gallons) Notional Contract Value USD 1,000 X DGCX West Texas Intermediate Light Sweet Crude Oil Futures Trading Currency USD Settlement Currency USD Price Quote US Dollars and Cents per barrel Tick Size USD 0.01 per barrel (US$ 10 per tick) Tick Value USD 10 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 500 contracts EFP / EFS / Block Trades As per DGCX By-Laws. Minimum Block size permitted is 200 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 4,000 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 DWTI-20181019 19 Oct 2018 Dec'18 DWTI-20181116 16 Nov 2018 Jan'19 DWTI-20181218 18 Dec 2018 Feb'19 DWTI-20190118 18 Jan 2019 Mar'19 DWTI-20190219 19 Feb 2019 Apr'19 DWTI-20190319 19 Mar 2019 May'19 DWTI-20190418 18 Apr 2019 Jun'19 DWTI-20190520 20 May 2019 Jul'19 DWTI-20190619 19 Jun 2019 Aug'19 DWTI-20190719 19 Jul 2019 Sep'19 DWTI-20190819 19 Aug 2019 Oct'19 DWTI-20190919 19 Sep 2019 Nov'19 DWTI-20191021 21 Oct 2019 Dec'19 DWTI-20191119 19 Nov 2019 Jan'20 DWTI-20191218 18 Dec 2019 Feb'20 DWTI-20200117 17 Jan 2020 Mar'20 DWTI-20200219 19 Feb 2020 Apr'20 DWTI-20200319 19 Mar 2020 Jun'20 DWTI-20200518 18 May 2020 Dec'20 DWTI-20201119 19 Nov 2020 Jun'21 DWTI-20210519 19 May 2021 Dec'21 DWTI-20211118 18 Nov 2021 Jun'22 DWTI-20220519 19 May 2022 Dec'22 DWTI-20221118 18 Nov 2022 Jun'23 DWTI-20230519 19 May 2023 Dec'23 DWTI-20231117 17 Nov 2023 Jun'24 DWTI-20240520 20 May 2024 Dec'24 DWTI-20241119 19 Nov 2024