July 14, 2021 - CME Group today announced that volume in its new Micro WTI Crude Oil futures has surpassed 50,000 contracts since launch, making it the most successful commodities product launch in the company's history. To date, the contract has seen around the clock participation from market participants across more than 50 different countries and 27 retail channels.
"We are extremely pleased to see such strong early customer support for our new Micro WTI Crude Oil futures," said Peter Keavey, Global Head of Energy at CME Group. "The robust demand we are seeing for this new, smaller-sized contract underscores the significance of our benchmark WTI product and its role as the global price discovery leader. We look forward to continuing to help traders of all sizes effectively manage their oil market exposure."
Micro WTI futures are one-tenth the size of the benchmark WTI Crude Oil futures contract and offer traders the same robust transparency and price discovery of WTI futures. Micro WTI futures are cash-settled based on the daily settlement price of NYMEX WTI futures and are listed on and subject to the rules of NYMEX.
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