CME Group to Launch Micro WTI Futures in July

US derivatives giant CME Group Inc. (NASDAQ: CME) recently announced that it has planned to launch Micro WTI futures on July 12, aiming to expand its suite of micro-sized futures contracts. Until now, the new contracts are still awaiting regulatory review.

According to the official press release, Micro WTI futures will be one-tenth the size of the company’s global benchmark WTI Crude Oil futures contract and will be cash-settled on the daily settlement price of NYMEX WTI futures. These contracts will be listed on and subject to the rules of NYMEX. 

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With the new contracts, market participants – from institutions to sophisticated, active, individual traders – will be able to fine-tune exposure to crude oil markets and enhance their trading strategies in an efficient, cost-effective way.

Peter Keavey, Global Head of Energy Products at CME Group, commented, “As U.S. crude continues to gain global significance, we are seeing increasing demand for tools that help a broader range of clients access these markets. WTI futures have always been a top product for active traders around the world, and the smaller size of Micro WTI futures will offer more flexibility and greater precision to market users – all while enabling them to benefit from the transparency and liquidity of the world’s most robust crude oil contract.”

Micro WTI futures will be the latest addition to CME's suite of micro-sized futures contracts as the group has launched Micro Bitcoin futures in May​, and the futures' volume surpassed 100,000 contracts​ in the new contract's first six days of trading.