TLDR: CME Group and NYMEX proposed a new 10-Barrel WTI Crude Oil futures contract with the code TCL. The proposed contract is one-tenth the size of Micro WTI, financially settled, and designed for weekend trading with a $0.01-per-barrel minimum move worth $0.10 per contract. However, TCL was not approved as of August 26, 2026. Although CME continues to show an August 30 target date pending regulatory review, the CFTC extended its review through October 26. Traders should treat TCL as proposed, not live, until CME and the CFTC confirm otherwise.
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What Is the 10-Barrel WTI Futures Contract?
10-Barrel WTI Crude Oil futures, proposed code TCL, would offer the smallest contract in CME Group's WTI futures family. Each contract would represent 10 barrels of crude oil exposure and settle financially to the corresponding benchmark Light Sweet Crude Oil futures settlement price.
That makes the proposed product:
- One one-hundredth the size of standard WTI Crude Oil futures, CL.
- One-tenth the size of Micro WTI Crude Oil futures, MCL.
- Financially settled rather than physically delivered.
- Designed for continuous weekend and holiday trading, subject to maintenance windows.
TCL vs MCL vs CL Contract Size and Tick Value
| Contract | Code | Contract size | Minimum price move | Value of one tick | Status on August 26, 2026 |
|---|---|---|---|---|---|
| WTI Crude Oil | CL | 1,000 barrels | $0.01 per barrel | $10 | Listed |
| Micro WTI Crude Oil | MCL | 100 barrels | $0.01 per barrel | $1 | Listed |
| 10-Barrel WTI Crude Oil | TCL | 10 barrels | $0.01 per barrel | $0.10 | Proposed; CFTC review pending |
The TCL values come from NYMEX's July 8 regulatory submission. They describe the proposed contract and may change before an approved launch.
What a $1 Move in WTI Means
If WTI moves $1 per barrel, the approximate change in one contract's value would be:
- CL: $1 × 1,000 barrels = $1,000.
- MCL: $1 × 100 barrels = $100.
- TCL: $1 × 10 barrels = $10.
The smaller exposure would allow finer position sizing. It would not reduce crude oil's price volatility or guarantee a fill near a stop.
Is TCL Launching on August 30?
The accurate answer is that August 30 remains CME's stated target, but regulatory approval is unresolved.
CME announced the proposed contract in June and continues to display “Starting August 30” with a pending-regulatory-review footnote. NYMEX formally submitted the product to the Commodity Futures Trading Commission on July 8.
On August 21, the CFTC extended the review for 45 additional days, through October 26, 2026. The agency said it needed more time to examine novel or complex issues created by around-the-clock trading in an energy futures contract when the underlying physical crude oil market is not continuously assessed.
That extension means traders should not assume TCL will be available on August 30. Before publishing a symbol map, funding an account, or enabling a strategy, verify all three of the following:
- The CFTC or CME has confirmed the contract may launch.
- CME has published an effective production date and final specifications.
- The user's TradingView-connected broker has enabled the exact contract.
Why the CFTC Extended Its Review
The proposal is unusual because TCL is designed to trade through weekends and holidays while the physical crude oil cash market and the benchmark CL contract do not operate in the same continuous way.
In its extension letter, the CFTC highlighted questions about reference-price reliability, manipulation resistance, and an exchange's ability to surveil trading during periods when the underlying physical market is not being assessed.
This is not a finding that the contract is unsafe or that approval will be denied. It is a formal decision to continue the review. Any article that presents the August 30 date as guaranteed is omitting the most important current fact.
Proposed TCL Trading Hours
NYMEX proposed continuous CME Globex trading with the following maintenance windows, all in Central Time:
- Monday through Friday: 4:00 p.m. to 4:02 p.m. CT.
- Saturday: 2:00 a.m. to 4:00 a.m. CT.
The proposal also states that weekend and holiday activity would receive the trade date of the following business day. Clearing, settlement, and regulatory reporting would be processed on that following business day.
These are proposed hours, not a promise that a trader's broker, data feed, TradingView integration, or order type will be available for the entire exchange session.
Why 24/7 WTI Matters to Systematic Traders
Crude oil can react to geopolitical events, OPEC+ decisions, supply disruptions, weather, inventory expectations, and macroeconomic news outside the traditional business week. Under the existing schedule, weekend information may be reflected in a gap when standard WTI trading resumes.
A weekend-traded contract could create a new price-discovery window. It could also create conditions that differ from normal weekday trading:
- Thinner order books and wider spreads.
- Different slippage around breaking news.
- A smaller pool of connected brokers and active participants.
- Trade-date behavior that differs from the calendar date.
- New strategy and risk controls needed for maintenance periods.
“More hours” should not be confused with “the same market conditions at every hour.” A strategy validated during the U.S. session needs separate forward testing before it is trusted on a weekend.
What Would TCL Change for Position Sizing?
Suppose a strategy uses a stop $0.80 per barrel from entry. Ignoring fees and slippage, the approximate risk for one contract would be:
- CL: $0.80 × 1,000 barrels = $800.
- MCL: $0.80 × 100 barrels = $80.
- TCL: $0.80 × 10 barrels = $8.
For traders whose desired risk falls between zero and one MCL contract, TCL could provide a more precise unit. The tradeoff may be lower early liquidity, different fee economics, and limited broker availability.
TCL on TradingView: Do Not Guess the Tradable Symbol
NYMEX's proposed CME Globex code is TCL. That does not mean a current TradingView chart, a continuous symbol, or a broker-routed contract is available today.
When and if the contract launches, distinguish between:
- The exchange product code.
- A TradingView continuous chart used for analysis.
- An individual contract month used for an actual order.
- The symbol format expected by the connected broker.
Never map a proposed product into a live automated workflow based only on a ticker mentioned in a press release.
A Pre-Launch Automation Checklist
- Confirm approval. Check the CFTC filing and CME notice for a final effective date.
- Confirm the final specification. Recheck tick size, contract months, expiration, trading hours, and settlement.
- Confirm TradingView data. Make sure the chart is the NYMEX contract, not a CFD or another oil product.
- Confirm broker routing. Place and cancel a paper order for the exact contract month.
- Test session logic. Validate maintenance windows, daily-loss resets, and weekend trade dates.
- Measure fills. Track spread and slippage separately for weekday and weekend sessions.
Automating WTI Strategies with Ultra Mega Trader
Ultra Mega Trader Automator works inside the browser with TradingView and the broker connection the user opens through TradingView. It does not require custom webhooks, broker API keys, or custom middleware.
For existing CL or MCL strategies, UMT can help traders forward test strategy activity and automate supported orders, subject to the TradingView broker connection and account permissions. For TCL, no day-one support claim should be made until TradingView and the connected broker can place an order for the exact listed contract.
Keep TradingView and UMT open while automating, use a stable connection, and begin with paper trading. Actual latency and fills depend on the device, network, broker, exchange, order type, and market conditions.
Want a no-code way to test your TradingView strategy workflow? Start a free seven-day UMT trial by contacting support@ultramegatrader.com. Use the getting-started guide and validate the setup in paper trading first.
10-Barrel WTI FAQ
What is the ticker for 10-Barrel WTI futures?
NYMEX's proposed CME Globex code is TCL. The product remained under CFTC review as of August 26, 2026, so traders should not assume a live broker-routed contract is available.
What is the proposed TCL tick value?
The proposed minimum price move is $0.01 per barrel. With 10 barrels per contract, one tick would be worth $0.10 per contract.
Is TCL physically delivered?
No. The proposed TCL contract is financially settled to the corresponding benchmark Light Sweet Crude Oil futures final settlement price.
Will TCL trade 24/7?
NYMEX designed it for continuous weekend and holiday trading, except for maintenance windows. Regulatory review is pending, and the final approved structure may differ.
Why does CME say August 30 if the CFTC review runs through October 26?
August 30 is CME's stated target date with a pending-review qualification. The CFTC subsequently extended its review through October 26. Until an approval and final effective notice are published, the target should not be treated as a confirmed launch.
Can UMT automate TCL?
Only after the contract is approved and listed, and only if TradingView can route the exact contract through the user's connected broker and account. Test the final symbol and order behavior in paper trading before enabling live automation.
Sources
- CME Group: 10-Barrel WTI Product Page
- CFTC: NYMEX Submission 26-339 and Proposed TCL Specifications
- CFTC: Extension of the TCL Review Through October 26, 2026
- CME Group: Announcement of Smaller WTI and 24/7 Trading
- CME Group: CL and MCL Contract Comparison
Educational content only. Futures are leveraged instruments and involve substantial risk of loss. TCL specifications and timing remain subject to regulatory review and may change. Examples exclude commissions, fees, slippage, and taxes. Nothing in this article is investment advice or a recommendation to buy or sell any instrument. Past or hypothetical results do not guarantee future performance.
