The WTIOIL contract on AX tracks the front-month WTI crude oil future on CME. Following industry standard (the same approach used by a few other WTI perps), exposure is gradually rolled each month into the next contract over 5 business days, beginning at the close of the 5th business day of the month and first affecting settlement on the 6th business day. The XCU contract on AX tracks the front-month copper future on CME. Similarly, when a contract month is approaching expiration, exposure is gradually rolled each month into the next contract over 5 business days, beginning at the close of the 5th business day of the month and first affecting settlement on the 6th business day. Because of the listing calendar, this process occurs in February, April, June, August, and November. The XAL contract on AX tracks the LME 3-month contract, and thus does not have an analogous futures roll process.

Example: June 2026 WTIOIL Roll Schedule

Roll Schedule

Date	Front Contract	Back Contract	Front Weight	Back Weight
2026-06-04	CLN6	CLQ6	1.0	0.0
2026-06-05	CLN6	CLQ6	1.0	0.0
2026-06-08	CLN6	CLQ6	0.8	0.2
2026-06-09	CLN6	CLQ6	0.6	0.4
2026-06-10	CLN6	CLQ6	0.4	0.6
2026-06-11	CLN6	CLQ6	0.2	0.8
2026-06-12	CLN6	CLQ6	0.0	1.0
2026-06-15	CLQ6	CLU6	1.0	0.0
2026-06-16	CLQ6	CLU6	1.0	0.0

Funding Rate Payments Settlement

​Example: June 2026 WTIOIL Roll Schedule

​Roll Schedule

Example: June 2026 WTIOIL Roll Schedule

Roll Schedule