Description
BSE announces contract launch calendar for WTI Crude Oil Futures with detailed specifications and trading schedule from January 2026 to December 2026.
Summary
BSE has released the contract launch calendar for WTI Crude Oil Futures contracts covering January 2026 to December 2026. The circular provides comprehensive contract specifications including trading parameters, margin requirements, quality specifications, and settlement mechanisms for WTI crude oil futures trading.
Key Points
- Contract symbol: WTICRUDE with trading unit of 100 barrels
- Trading sessions: Monday to Friday, 9:00 AM to 11:30/11:55 PM (based on US daylight saving time)
- Quotation in Rs. per barrel with minimum tick size of Re. 1
- Maximum order size: 10,000 barrels
- Daily price limits: 4% initial slab, relaxable to 6% and then 9% with cooling-off periods
- Initial margin: Minimum 10% or SPAN-based, whichever is higher
- Extreme loss margin: Minimum 1%
- Position limits: 4,80,000 barrels or 5% of market-wide open position for individual clients
- Cash settlement based on ICE WTI Crude Oil front month contract settlement price
Regulatory Changes
- Implementation of structured contract launch calendar with specific launch and expiry dates
- Quality specifications defined: Sulfur 0.42% by weight or less, API Gravity between 37-42 degrees
- Settlement mechanism linked to ICE WTI Crude Oil (T) front month contract with RBI USD-INR reference rate conversion
Compliance Requirements
- Members must adhere to position limits: 48,00,000 barrels or 20% of market-wide open position for all clients combined
- Additional/special margins may be imposed during periods of volatility
- All contracts subject to BSE’s risk management framework and margin requirements
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 structured contract calendar provides commodity traders with clear visibility for planning WTI crude oil futures positions. The comprehensive specifications and risk management framework ensure orderly trading while the cash settlement mechanism tied to international benchmarks provides price discovery aligned with global markets. The extended trading hours accommodate international market movements, enhancing market efficiency for crude oil price hedging and speculation activities.
Impact Justification
New futures contract calendar affects commodity traders and provides structured trading opportunities