Micro WTI Crude Oil futures

Micro-sized crude oil, major possibilities │Globex code MCL
Available for trading July 12, 2021*

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Explore the power and precision of trading a smaller oil contract

On July 12, 2021*, Micro WTI Crude Oil futures will give traders of all sizes a smaller, more precise instrument for managing crude oil price exposure. At 1/10 the size of the benchmark WTI futures contract, Micro WTI Crude Oil futures offers the same robust transparency and price discovery of larger WTI futures with smaller margin requirements.

*Pending regulatory review

Key benefits and features

 

Precisely scale oil exposure

Add more granularity to your energy trading and risk-management strategies by using Micro WTI Crude Oil futures to fine-tune your crude oil market exposure up or down in 100-barrel increments (the size of one contract).

Precisely scale oil exposure 

 

Manage positions with more versatility

Micro WTI fits in seamlessly with its E-mini WTI and standard WTI futures counterparts, letting you choose the contract size that best suits your goals and exchange positions between contracts as market conditions change or high-demand season nears.

 

Add access and capital efficiency

Tap into the same features as the world’s most liquid oil contract, WTI futures, in a smaller-sized contract with smaller margin requirements. That includes nearly 24-hour markets, transparency used by the energy industry worldwide to determine prices, and more.

New to futures?

Learn more about what futures are, how they trade and how you can get started trading.
 

Preliminary contract specifications

 

NEW
MICRO WTI CRUDE OIL FUTURES

E-MINI WTI CRUDE OIL FUTURES

WTI CRUDE OIL FUTURES

AVAILABILITY TO TRADE

July 12, 2021*

Available now

Available now

CONTRACT SIZE

100 barrels

500 barrels

1,000 barrels

RATIO TO STANDARD CONTRACT

1/10

1/2

1 (standard)

MINIMUM TICK/ PRICE FLUCTUATION

$0.01 per barrel

$0.025 per barrel

$0.01 per barrel

DOLLAR VALUE OF ONE TICK

$1 per contract

$12.50 per contract

$10 per contract

PRODUCT CODE

MCL

QM

CL

SETTLEMENT

Financial

Financial

Physical

EXPIRATION SCHEDULE

1 day prior to the expiration of WTI Crude Oil (CL) futures

Standard

TRADING HOURS

CME Globex:  Sun-Fri: 5 p.m. to 4 p.m.
Mon-Fri: 60-minute daily trading halt beginning at 4 p.m. CT

LISTING EXCHANGE

NYMEX

*Pending regulatory review

Learn about Micro WTI Crude Oil futures

Watch an educational video to understand the basics of Micro WTI Crude Oil futures, the fundamentals behind the contract, and more.

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    Education

    Introduction to Crude Oil

    Explore key concepts of the crude oil energy markets and learn some basic principles of how traders around the globe use these contracts for risk management.

    View courses

    FEATURED COURSE

    Introduction to Energy futures

    Energy markets fuel many of the world’s leading economies. Futures on commodities like crude oil help industries and everyday investors manage risk and harness potential.  Explore the key concepts and structure of today’s energy markets and how to use energy futures contracts.

    Launch course