The ICE West Texas Intermediate (WTI) Light Sweet Crude Oil Futures Contract offers participants the opportunity to trade one of the world's most liquid oil commodities in an electronic marketplace. The contract not only brings the benefits of electronic trading a US light sweetcrude maker, but also brings together the world's three most significant oil benchmarks on a single exchange: Brent, Middle East Sour Crude and WTI. This offers a reduction in collateral requirements through the offsetting of margins.
|Trading Hours||Open time for Monday morning/Sunday evening is:
23:00 London (local time)
18:00 New York
|Contract Size||1,000 barrels|
|Units of Trading||Any multiple of 1,000 barrels|
|Currency||US Dollars and cents|
|Trading Price||One cent ($0.01) per barrel|
|Settlement Price||One cent ($0.01) per barrel|
|Minimum Price Flux||One cent ($0.01) per barrel|
|Clearing||ICE Clear Europe guarantees financial performance of all ICE Futures Europe contracts registered with it by its clearing Members. All ICE Futures Europe Member companies are either members of ICE Clear Europe, or have a clearing agreement with a Member who is a member of ICE Clear Europe.|
|Contract Listings||Up to 86 consecutive months|
|Position Limits||The Exchange may impose position accountability levels or limits on positions in this contract at its discretion as provided in Rules P8 and P3 respectively.
Current position accountability levels: In any one month: 10,000 net futures, all months: 20,000 net futures.
Current position limits: 3,000 contracts in the last three trading days in the spot month inclusive of futures-equivalent position in WTI Options.
Exemptions from position limits may be granted at Exchange discretion for bona fide hedge positions.
|Last Trading Day||Trading shall cease at the close of business on the 4th US business day prior to the 25th calendar day of the month preceding the contract month. If the 25th calendar day of the month is not a US business day the Final Trade Day shall be the Trading Day which is the fourth US business day prior to the last US business day preceding the 25th calendar day of the month preceding the contract month.|
|Settlement||The West Texas Intermediate Light Sweet Crude Oil futures contract is cash settled against the prevailing market price for US light sweet crude. It is a price in USD per barrel equal to the penultimate settlement price for WTI crude futures as made public by NYMEX for the month of production per 2005 ISDA Commodity Definitions.|
|Business Days||ICE Business Days|
NOTE: DST in the US will be different than BST time. See Circular 12138 for temporary trading hours changes.
Clearing Admin NameICE WTI