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 $1
- Tax Free – No transaction Tax and Zero Capital Gains tax
- Market hours encompassing the largest global liquidity pools
- Basis 100 Barrels contract, traded on a secure regulated marketplace
Contract Specifications
Contract | Parameters |
Contract Type | Future |
Contract Name | DGCX Mini West Texas Intermediate (WTI) Oil Futures |
Contract Symbol | DWTIM |
Underlying | DGCX West Texas Intermediate Light Sweet Crude Oil |
Contract Size | 100 Barrels (4,200 Gallons) |
Notional Contract Value | 100 x Price |
Trading Currency | USD |
Settlement Currency | USD |
Price Quote | US Dollars and Cents per Barrel |
Tick Size | US$ 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 three 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 |
*See Exchange By-Laws Part N
Contract Calendar
Expiry Month | Expiry Code | Last Trading Day |
---|---|---|
Dec'24 | DWTIM-20241119 | 19-Nov-24 |
Jan'25 | DWTIM-20241218 | 18-Dec-24 |
Feb'25 | DWTIM-20250117 | 17-Jan-25 |