Description
BSE announces contract specifications and launch calendar for WTI Crude Oil Futures contracts from January 2026 to December 2026.
Summary
BSE has released the contract specifications and launch calendar for WTI Crude Oil Futures contracts. The contracts will be available from January 2026 to December 2026, with specific launch and expiry dates for each month. Trading will occur Monday through Friday with extended hours based on US daylight saving time.
Key Points
- Symbol: WTICRUDE with trading unit of 100 barrels
- Trading hours: Monday to Friday 9:00 AM to 11:30/11:55 PM (based on US daylight saving)
- Quotation base: Rs. per barrel with minimum tick size of Re. 1
- Maximum order size: 10,000 barrels
- Initial margin: Minimum 10% or SPAN-based, whichever is higher
- Daily price limits: 4% initial slab, relaxable to 6% and then 9% with cooling periods
- Cash settlement based on ICE WTI Crude Oil front month contract
Regulatory Changes
No regulatory changes - this is a new product launch with established specifications.
Compliance Requirements
- Position limits for individual clients: 4,80,000 barrels or 5% of market-wide open position
- Position limits for members collectively: 48,00,000 barrels or 20% of market-wide open position
- Quality specifications: Light Sweet Crude Oil with sulfur 0.42% or less, API Gravity 37-42 degrees
- Settlement using ICE WTI Crude Oil (T) front month contract price converted to INR using RBI reference rate
Important Dates
Contract Launch Schedule:
- January 2026: Launch August 20, 2025, Expiry January 16, 2026
- February 2026: Launch September 22, 2025, Expiry February 19, 2026
- March 2026: Launch October 22, 2025, Expiry March 19, 2026
- April 2026: Launch November 20, 2025, Expiry April 20, 2026
- May 2026: Launch December 19, 2025, Expiry May 18, 2026
- June 2026: Launch January 19, 2026, Expiry June 18, 2026
- July 2026: Launch February 20, 2026, Expiry July 20, 2026
- August 2026: Launch March 20, 2026, Expiry August 19, 2026
- September 2026: Launch April 21, 2026, Expiry September 21, 2026
- October 2026: Launch May 19, 2026, Expiry October 19, 2026
- November 2026: Launch June 19, 2026, Expiry November 19, 2026
- December 2026: Launch July 21, 2026, Expiry December 18, 2026
Impact Assessment
This launch provides Indian traders access to WTI crude oil futures with INR-denominated pricing, reducing currency risk. The extended trading hours align with international oil markets, enhancing price discovery and hedging opportunities for oil-related businesses and traders in India.
Impact Justification
Standard product launch with clear specifications for commodity futures trading