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ICE Futures EuropeApr 4, 2015

WTI Crude Futures

Contract Specifications

Description

The ICE West Texas Intermediate (WTI) Light Sweet Crude Oil FuturesContract offers participants the opportunity to trade one of the world's mostliquid oil commodities in an electronic marketplace. The contract not onlybrings the benefits of electronic trading a US light sweetcrude maker, butalso brings together the world's three most significant oil benchmarks on asingle exchange: Brent, Middle East Sour Crude and WTI. This offers areduction in collateral requirements through the offsetting of margins.

Contract Symbol T

Trading Hours

Open time for Monday morning/Sunday evening is:23:00 London (local time)18:00 New York17:00 Chicago.

Contract Size 1,000 barrels

Units of Trading Any multiple of 1,000 barrels

Currency US Dollars and cents

Trading Price One cent ($0.01) per barrel

Settlement Price One cent ($0.01) per barrel

Minimum Price Flux One cent ($0.01) per barrel

2ICE Help Desk: Atlanta + 1 770 738 2101, London + 44 (0)20 7488 5100 or ICEHelpdesk@theice.com

Contract Specifications

Clearing

ICE Clear Europe guarantees financial performance of all ICE FuturesEurope contracts registered with it by its clearing Members. All ICE FuturesEurope Member companies are either members of ICE Clear Europe, orhave a clearing agreement with a Member who is a member of ICE ClearEurope.

Contract Listing Up to 108 consecutive months

Position Limits

The Exchange may impose position accountability levels or limits onpositions in this contract at its discretion as provided in Rules P8 and P3respectively.

In any one month: 10,000 netCurrent position accountability levels:futures, all months: 20,000 net futures.

3,000 contracts in the last three trading days in theCurrent position limits:spot month inclusive of futures-equivalent position in WTI Options.

Exemptions from position limits may be granted at Exchange discretion forbona fide hedge positions.

Last Trading Day

Trading shall cease at the close of business on the 4th US business dayprior to the 25th calendar day of the month preceding the contract month. Ifthe 25th calendar day of the month is not a US business day the Final TradeDay shall be the Trading Day which is the fourth US business day prior to thelast US business day preceding the 25th calendar day of the monthpreceding the contract month.

Settlement

The West Texas Intermediate Light Sweet Crude Oil futures contract is cashsettled against the prevailing market price for US light sweet crude. It is aprice in USD per barrel equal to the penultimate settlement price for WTIcrude futures as made public by NYMEX for the month of production per2005 ISDA Commodity Definitions.

Business Days ICE Business Days

Linked Future Yes