WTI Light Sweet Crude Oil Futures

WTI

The world economy has been developing with oil as its lifeblood for over a hundred years. West Texas Intermediate (WTI), also known as Texas light sweet, is a grade of crude oil used as a benchmark in oil pricing. This grade is described as light because of its relatively low density, and sweet because of its low sulfur content. It is the underlying commodity of Dubai Gold and Commodities Exchange's oil futures contracts.

The price of WTI is often referenced in news reports on oil prices, alongside the price of Brent crude from the North Sea.

Product 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*:燭here 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燾onsecutive months plus爐en contract months consisting of June and December months will be listed for an additional five calendar years
Trading Day Monday through to燜riday
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 following 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 Block 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�

Margin


Margins
Initial Margin US$ 5,100 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.
Price bands: Daily Price ranges are fixed on the futures contracts in fuel oil (US$ 25). Previous day settlement prices of a contract are used as a base price for the day. However, if price breaches the daily price movement limit, trading in a particular contract is continued but, within the current daily range for next 15 minutes. Thereafter the new trading range becomes applicable. However, if the price movement limit is breached during the first or last 30 minutes of trading on any business day, the new range is applied immediately. The price band in case of currency futures and Gold Options is unlimited.