NYMEX CRUDE OIL FUTURES CFD (USCRUDE) CONTRACT SPECIFICATION:
| Symbol | New York Crude Oil
USCRUDE |
| Underlying Security | NYMEX Front-Month Light Sweet Crude Oil Futures |
| Standard Contract Size | 1000 barrels per lot |
| Target Spread | 0.06 |
| Decimal Place | 2 |
| Minimum Fluctuation | 0.01 |
| Minimum Fluctuation (Value) | US$10 per lot |
| Minimum Trade | 1 lot |
| Minimum Trade Increment | 1 lot |
| Maximum Trade | 10 lots |
| Margin Required | 2% |
| Commission | NIL |
| Overnight Finance Charge | NIL |
| Trading Hours | NY Local Time:
Every day 18:00-17:00 Sunday-Friday (Last Trading Day end at 16:00) GMT Time: Every day 22:00-21:00 Sunday-Friday (NY Summer)(Last Trading Day end at 20:00) Every day 23:00-22:00 Sunday-Friday (NY Winter) (Last Trading Day end at 21:00) |
| Contract Expiry | 2 trading days before futures contract expiry on NYMEX |
| Settlement | Non-deliverable, cash settled at the end of Last Trading Day |
| Nearest Level from Current Price that Orders can be Placed | 0.01 |
| Order Duration | All orders are Day Orders only including Stop Loss and Take Profit |
Remark: Some contract specifications are dependent on market conditions and may be changed at any time without prior notice.
Switch Over at Expiry:
Futures contract expires at exchange set expiry time. Currently we do not support the automatic rolling of positions from one month to the next. Any positions still open at the close of trading on the expiry day will be closed by KVB at the mid market closing price and cash settled.
In order to avoid last trading day’s volatility, KVB would switch over the price quote from front month to the next month two trading days prior to the exchange expiry dates below. Clients can resume trading the same CFD symbol after this quote switching over.
The Crude Oil contract expiry date:
| Contract Month | NYMEX | KVB |
| 2010 | ||
| May | 20/04/10 | 16/04/10 |
| June | 20/05/10 | 18/05/10 |
| July | 22/06/10 | 18/06/10 |
| August | 20/07/10 | 16/07/10 |
| September | 20/08/10 | 18/08/10 |
| October | 21/09/10 | 17/09/10 |
| November | 20/10/10 | 18/10/10 |
| December | 19/11/10 | 17/11/10 |
| 2011 | ||
| January | 20/12/10 | 16/12/10 |
| February | 20/01/11 | 18/01/11 |
| March | 22/02/11 | 18/02/11 |
| April | 22/03/11 | 18/03/11 |
| May | 19/04/11 | 15/04/11 |
| June | 20/05/11 | 18/05/11 |
Disclaimer:
The risk of loss in leveraged foreign exchange, CFDs and other derivatives trading can be substantial. Investors should therefore carefully consider whether such trading is suitable in light of their own financial position and investment objectives and if necessary seek appropriate professional advice. Investors are advised to read「Products Disclosure Statements」carefully before making any investment decision.「Products Disclosure Statements」 and 「Investment Advisors Disclosure Statements」 are available on request and free of charge from KVB Kunlun.
The information contained in this document does not constitute financial or investment advice. All information, prices and opinions are subject to change without prior notice.The product information may not apply to all KVB Kunlun companies; please contact our representatives in your country or region, if you have any enquiries.