WTI Crude Futures

ICE Futures Europe

WTI Crude Futures

Description

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 sweet crude marker, but also brings together the world's most significant crude benchmarks on a single exchange: Brent, (Platts) Dubai, and WTI, as well as the emerging benchmarks Murban and Midland WTI AGC. This offers a reduction in collateral requirements through the offsetting of margins.

Market Specifications

Trading Screen Product Name: WTI Crude Futures
Trading Screen Hub Name: WTI
Contract Symbol: T
Trading Hours: Open time for Monday morning/Sunday evening is:
23:00 London (local time)
18:00 New York
17:00 Chicago.
Contract Size: 1,000 barrels
Unit 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 Fluctuation: 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 Series: Up to 108 consecutive months
Position Limit: The applicable position, expiry and/or accountability levels, are set forth in Table 1 of ICE Futures Europe’s Position, Expiry and Delivery Limits and Accountability Levels Guidance.
Last Trading Day: Trading shall cease at the end of the designated settlement period 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 4th 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.
NCR, RL and IPL Levels: "NCR: 0.50;
RL: 0.75
IPL: 1.00, 3 second recalculation and 5 second hold periods.

To access NCR documentation click here
Markers: TAS (Trade at Settlement)
Business Days: ICE Business Days
Linked Future: Yes
MIC Code: IFEU
Clearing Venues: ICEU

Trading Hours

City	Trading	Pre-Open
New York	8:00 PM - 6:00 PM* 20:00 - 18:00	7:45 PM 19:45
London	1:00 AM - 11:00 PM* 01:00 - 23:00	12:45 AM 00:45
Singapore	8:00 AM - 6:00 AM* 08:00 - 06:00	7:45 AM 07:45

*Next Day

Codes

Clearing Admin Name: ICE WTI
Physical: T
Logical: WBS

GMI (FC): CS
ION A.C.N.: R755
Symbol Code: WBS

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