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 $1
- Tax Free – No transaction Tax and Zero Capital Gains tax
- Market hours encompassing the largest global liquidity pools
- Basis 100 Barrels contract, traded on a secure regulated marketplace
Contract Parameters Contract Type Future Contract Name DGCX Mini West Texas Intermediate (WTI) Oil Futures Contract Symbol DWTIM Underlying DGCX West Texas Intermediate Light Sweet Crude Oil Contract Size 100 Barrels (4,200 Gallons) Notional Contract Value 100 x Price Trading Currency USD Settlement Currency USD Price Quote US Dollars and Cents per Barrel Tick Size US$ 0.01 Tick Value US$ 1 Settlement Basis Cash Settled Final Cash Settlement Price (FCSP) FCSP is based on the publicly available reference price displayed market data vendors on Last Trading Day Last Trading Day (LTD) Four Business Days prior to the 25th Calendar Day of the month preceding the expiry month (e.g. the March contract will expire on the fourth Business Day prior to the 25th of February) Trading Days Exchange Business Days* Trading Hours 07:00 - 23:55 Hours Dubai time Trading Months Monthly contracts for twelve months forward New Contract Listing Business Day immediately following the Last Trading Day Max Order Size 2,000 Lots Wholesale Trades Block Trade minimum size threshold: 500 lots. EFP/EFS also available. Trades must be submitted 15 minutes after execution No Cancellation Range See link: www.dgcx.ae/price-limits
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