The derivatives arm of the global algorithmic trading firm, Wintermute Asia, announced the launch of crude oil CFD trading. The over-the-counter (OTC) offering allows institutional counterparties to trade West Texas Intermediate (WTI) oil benchmarks 24/7, including weekends and public holidays when traditional commodity venues are closed.
Why Wintermute Launched Crude Oil CFDs
Wintermute came at the right time to fill a gap: The launch of the crude oil CFD follows a weekend of heightened geopolitical tensions (U.S.-Iran war) that sent oil prices soaring while traditional markets were closed. When venues reopened on March 23, WTI jumped sharply then reversed as much as 13.5% intraday, leaving traders unable to hedge the initial spike or respond to the drop until much of the move had played out.
Wintermute CEO, Evgeny Gaevoy, stated that “many investors were unable to act until traditional venues reopened,” creating immediate demand for continuous access.
Novel Construction
Wintermute’s crude oil CFD trading uses a contract for difference model (different from the perpetual futures offered by platforms like Hyperliquid), allowing traders to speculate on oil pprice movements without actually owning the asset. The OTC nature of the product allows traders to customize the contract, using Wintermute as the counterparty, its risk management and liquidity to facilitate their performance. The model’s offering accepts both fiat and crypto collateral, with no trading fees.
