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 $10
- Tax Free – No transaction Tax and Zero Capital Gains tax
- Market hours encompassing the largest global liquidity pools
- Basis 1,000 Barrels contract, traded on a secure regulated marketplace
Contract Specifications
Contract | Parameters |
Contract Type | Future |
Contract Name | DGCX West Texas Intermediate (WTI) Oil Futures |
Contract Symbol | DWTI |
Underlying | DGCX West Texas Intermediate Light Sweet Crude Oil |
Contract Size | 1,000 Barrels (42,000 Gallons) |
Notional Contract Value | 1,000 x Price |
Trading Currency | USD |
Settlement Currency | USD |
Price Quote | US Dollars and Cents per Barrel |
Tick Size | US$ 0.01 |
Tick Value | US$ 10 |
Settlement Basis | Cash Settled |
Final Cash Settlement Price (FCSP) | FCSP is based publicly available reference price as displayed on the 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 | 200 Lots |
Wholesale Trades | Block Trade minimum size threshold: 50 lots. EFP/EFS also available. Trades must be submitted 15 minutes after execution |
No Cancellation Range | See link: www.dgcx.ae/price-limits |
Contract Calendar
Expiry Month | Expiry Code | Last Trading Day |
---|---|---|
Dec'24 | DWTI-20241119 | 19-Nov-24 |
Jan'25 | DWTI-20241218 | 18-Dec-24 |
Feb'25 | DWTI-20250117 | 17-Jan-25 |