CME Group to Launch Options on Micro WTI Crude Oil Futures as Futures Volume Nears 20 Million Contracts Traded

Rhea-AI Summary

CME Group announced the upcoming launch of options on Micro WTI Crude Oil futures, set for June 6, 2022, subject to regulatory review. This product expansion follows the trading of nearly 20 million Micro WTI Crude Oil futures contracts since their launch, with 40% of the volume coming from international markets. Industry leaders from Charles Schwab and TradeStation expressed support, noting that these options will enhance accessibility for traders and facilitate better risk management in crude oil exposure.

Positive

• Expansion of product offerings with options on Micro WTI Crude Oil futures will enhance market flexibility.
• Micro WTI Crude Oil futures have reached close to 20 million contracts traded, indicating strong demand.
• 40% of the volume comes from outside the U.S., showing significant international interest in the product.

Negative

• None.

CHICAGO, May 3, 2022 /PRNewswire/ -- CME Group, the world's leading derivatives marketplace, today announced it will expand its micro-sized energy offerings with the launch of options on Micro WTI Crude Oil futures on June 6, 2022, pending regulatory review.

"Micro WTI Crude Oil futures are one of the fastest growing energy products today, with close to 20 million contracts having traded since launch and nearly 40% of volume coming from outside of the U.S.," said Peter Keavey, Global Head of Energy and Environmental Products at CME Group. "We continue to see robust new client interest and are pleased to introduce options to provide even more flexibility for investors to navigate crude oil volatility with precision."  

"The launch of Micro WTI Crude options continues to lower the barrier to entry to one of the most in-demand futures products for self-directed active traders," said J.B. Mackenzie, Managing Director at Charles Schwab Futures and Forex, LLC. "We're pleased to be able to offer these new options contracts to our clients at Charles Schwab and TD Ameritrade."

"We're excited to offer our options clients the latest products from CME Group with the addition of Micro WTI Crude Oil options. We pride ourselves on offering investors the latest in products and education," said John Bartleman, President and CEO of TradeStation Group, Inc. "As investors face ongoing volatility, Micro WTI Crude Oil options give them an accessible entry point to the energy markets."

"We are pleased to support the launch of options on Micro WTI Crude Oil futures," said Steve Sanders, EVP of Marketing and Product Development at Interactive Brokers. "CME Group's existing Micro WTI Crude Oil futures products remain popular among investors and the addition of options will certainly give our active trader clients additional flexibility and enhanced precision to manage their crude oil exposure." 

Traders of all sizes are increasingly utilizing the efficiency and flexibility of CME Group's options complex to manage risk, with over 4 million options contracts traded across existing micro-sized products to date.

Options on Micro WTI Crude Oil futures will be listed by and subject to the rules of NYMEX. For more information and for product specs, please visit here.

About CME Group
As the world's leading derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals.  The company offers futures and options on futures trading through the CME Globex® platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform.  In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing. 

CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and, E-mini are trademarks of Chicago Mercantile Exchange Inc.  CBOT and Chicago Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc.  NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc.  COMEX is a trademark of Commodity Exchange, Inc. BrokerTec and EBS are trademarks of BrokerTec Europe LTD and EBS Group LTD, respectively. Dow Jones, Dow Jones Industrial Average, S&P 500 and S&P are service and/or trademarks of Dow Jones Trademark Holdings LLC, Standard & Poor's Financial Services LLC and S&P/Dow Jones Indices LLC, as the case may be, and have been licensed for use by Chicago Mercantile Exchange Inc.  All other trademarks are the property of their respective owners.  

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SOURCE CME Group

FAQ

What are the details of CME's Micro WTI Crude Oil options launch?

CME Group will launch options on Micro WTI Crude Oil futures on June 6, 2022, pending regulatory approval.

How many Micro WTI Crude Oil futures contracts have been traded?

Since launch, nearly 20 million contracts of Micro WTI Crude Oil futures have been traded.

What percentage of Micro WTI Crude Oil futures volume is international?

Approximately 40% of the volume in Micro WTI Crude Oil futures comes from outside the U.S.

Which companies support CME's Micro WTI Crude Oil options?

Companies like Charles Schwab and TradeStation have expressed support for the new options on Micro WTI Crude Oil futures.