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
Product Contract Identifier Last Trading Date Expiry Date Tender Start Date Tender End Date Delivery Start Date Delivery End Date DWTI DWTI-20180119 19-Jan-2018 19-Jan-2018 22-Jan-2018 22-Jan-2018 22-Jan-2018 22-Jan-2018 DWTI DWTI-20180216 16-Feb-2018 16-Feb-2018 19-Feb-2018 19-Feb-2018 19-Feb-2018 19-Feb-2018 DWTI DWTI-20180319 19-Mar-2018 19-Mar-2018 20-Mar-2018 20-Mar-2018 20-Mar-2018 20-Mar-2018 DWTI DWTI-20180419 19-Apr-2018 19-Apr-2018 20-Apr-2018 20-Apr-2018 20-Apr-2018 20-Apr-2018 DWTI DWTI-20180521 21-May-2018 21-May-2018 22-May-2018 22-May-2018 22-May-2018 22-May-2018 DWTI DWTI-20180619 19-Jun-2018 19-Jun-2018 20-Jun-2018 20-Jun-2018 20-Jun-2018 20-Jun-2018 DWTI DWTI-20180719 19-Jul-2018 19-Jul-2018 20-Jul-2018 20-Jul-2018 20-Jul-2018 20-Jul-2018 DWTI DWTI-20180820 20-Aug-2018 20-Aug-2018 21-Aug-2018 21-Aug-2018 21-Aug-2018 21-Aug-2018 DWTI DWTI-20180919 19-Sep-2018 19-Sep-2018 20-Sep-2018 20-Sep-2018 20-Sep-2018 20-Sep-2018 DWTI DWTI-20181019 19-Oct-2018 19-Oct-2018 22-Oct-2018 22-Oct-2018 22-Oct-2018 22-Oct-2018 DWTI DWTI-20181116 16-Nov-2018 16-Nov-2018 19-Nov-2018 19-Nov-2018 19-Nov-2018 19-Nov-2018 DWTI DWTI-20181218 18-Dec-2018 18-Dec-2018 19-Dec-2018 19-Dec-2018 19-Dec-2018 19-Dec-2018