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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail client accounts lose money when trading in CFDs. You should consider whether you can afford to take the high risk of losing your money.

Onyx Markets Naphtha Naphtha NWE Naphtha Europe – Commodity CFD

Naphtha NWE Naphtha Europe – Commodity CFD

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Name & Trade Code

Contract Name Naphtha NWE
MT5 Code Naphtha_NWE
Contract Classification Commodity CFD
Geographical Region Europe

Contract Specification

Sector Energy
Product Group Naphtha
Tenor Period Up to 24 consecutive forward Tenor Periods available
Maximum Forward Tenor Up to 24 consecutive forward Tenor Periods available
Contract Size 100
Contract Unit mt
Trading Price Quote $/mt
Price Digits 2
Currency USD
Tick Value 1
Tick Size 0.01
Minimum Volume 1
Volume Steps [Lots] 0.01
Settlement Arithmetic mean of Settlement Prices throughout expiry month
Margins View document

Expiry Trading Overview

Contract Expiry Date The last trading day of the expiring Tenor Period (i.e. 31 March 2025 for Mar 25 Tenor Period)
Last Trading Day (for new open positions) Five working days prior to the Contract Expiry Date for the Tenor Period (i.e. 24 March 2025 for Mar 25 Tenor Period)
Last Trading Day (for closing position in that Tenor Period) The Contract Expiry Date of the relevant Tenor Period

Tenor Period Settlement Valuation Process

Open Volume The net open volume for the expiring Tenor Period
Daily Settlement Value Market-on-Close – The daily settlement assessment time, e.g. 4:30 pm for European contracts
Daily Settlement Volume Each day during Tenor Period, the remaining Open Volume reduces by the equivalent of 1/ (number of pricing days in the Tenor Period, including today if prior to Market-on-Close) and be settled at Daily Settlement Value
Final Settlement Price Arithmetic mean of Settlement Prices throughout expiry month
MOC Haircut None Applies

The Naphtha NWE contract is a commodity CFD (Contract for Difference) in the Naphtha group that represents the outright price of European Naphtha CIF NWE Cargoes.

Contract Purpose

This outright contract allows market participants to:

  • Gain direct exposure to the price of European Naphtha CIF NWE Cargoes
  • Hedge against price fluctuations in the European naphtha market
  • Speculate on the future price direction of naphtha in Northwest Europe

Market Significance

  • Benchmark Status: Serves as a key reference for naphtha pricing in Northwest Europe
  • Petrochemical Industry Impact: Reflects the cost of a crucial feedstock for the petrochemical industry in Europe
  • Regional Indicator: Provides insights into supply and demand dynamics for naphtha in the European market

Trading Benefits

  • Price Discovery: Offers a transparent mechanism for determining the price of European Naphtha CIF NWE Cargoes
  • Risk Management: Allows hedging against price volatility in the European naphtha market
  • Market Access: Provides exposure to one of Europe’s key naphtha benchmarks

This contract is particularly valuable for petrochemical companies, refineries, trading houses, and financial institutions active in the European naphtha market. It offers a tool for managing price risks and implementing trading strategies related to naphtha in Northwest Europe.