WTI Light Sweet Crude Oil Futures Contract Specification

Trading

Symbol

DWTI

Underlying Asset

DGCX West Texas Intermediate Light Sweet Crude Oil Futures

Contract Size

1,000 barrels (42,000 gallons)

 

 

 

Price Quote

US Dollars and Cents per barrel

Tick Size

US$ 0.01 per barrel (US$ 10 per tick)

Daily Price Movement Limit

No Limit - 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

 

Price 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

Delivery Months

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

Trading Day

Monday through to Friday

Trading Hours

07:00 - 23:30 Hours Dubai time (GMT+4)

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

Cash Settlement Day

The Business Day folloing the last day of trading

New Contract Listing

Business day immediately following the last trading day

EFP / EFS / Block Trades

As per DGCX By-Laws. Minimum Blcok size permitted is 200 contracts.

Time Limit for EFP / EFS / 
Block Trade
 Registration

Up to 15 minutes after cessation of trading on any trading day

 

Max Open Position Limit

No Limits

Max Order Size

500 Contracts

 

 

Margins

Initial Margin

US$ 3,500 per contract (subject to change)

Calendar Spread Margin

100% benefit is offered on calendar spread positions.

Extra Margin

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