Fx micro futures at CME

tar · Feb 18, 2009

CME will offer new contracts for FX futures at the end of the 1 Q / 2009 , every contract equals to a 1/10 th of the standard Fx futures contracts ...

http://www.cmegroup.com/trading/fx/files/FX-211_Forex_Emicros_Sell_Sheet.pdf

DC STOXX · Feb 18, 2009

what a joke....$0.60 a tick haha. The exchange fee's are going to have to be seriously low to make this have any volume.

neil · Feb 18, 2009

Hope this helps

DC STOXX said:
what a joke....$0.60 a tick haha. The exchange fee's are going to have to be seriously low to make this have any volume.

All Forex E-micro contracts will be cash-settled and EUR/USD, GBP/USD and AUD/USD contracts will be fully fungible with CME Group's full-sized FX contracts, and margins and exchange fees will be scaled down in proportion with the full-sized versions at roughly one-tenth of the full cost. USD/JPY, USD/CHF and USD/CAD all have a high percentage of margin offset with the larger CME Group FX contracts.

CME Group to Launch Forex E-Micro Contracts - Feb 18, 2009

VingTsunKuen · Feb 18, 2009

That is a great thing!
What i like so much about FX futures is that you know who is on other side of your trade-another trader.
Major thing about spot FX that i dislike is that you are most likely have broker on other side of your trades.And if you are consistent whit your winning that makes your broker a loser.I am sure that they hate to lose consistently:cheesy:

VTK

N Rothschild · Feb 18, 2009

should do this for all the contracts

DC STOXX · Feb 18, 2009

neil said:
All Forex E-micro contracts will be cash-settled and EUR/USD, GBP/USD and AUD/USD contracts will be fully fungible with CME Group's full-sized FX contracts, and margins and exchange fees will be scaled down in proportion with the full-sized versions at roughly one-tenth of the full cost. USD/JPY, USD/CHF and USD/CAD all have a high percentage of margin offset with the larger CME Group FX contracts.

CME Group to Launch Forex E-Micro Contracts - Feb 18, 2009

If the exchange fee's are cut in proportion to the contract size then i retract what i said about them being a joke. In fact if it works out like you say, There is not a reason to trade the big contract i guess?

Rhody Trader · Feb 19, 2009

VingTsunKuen said:
What i like so much about FX futures is that you know who is on other side of your trade-another trader.
Major thing about spot FX that i dislike is that you are most likely have broker on other side of your trades.And if you are consistent whit your winning that makes your broker a loser.I am sure that they hate to lose consistently:cheesy:

Actually, in futures there's a really good chance that the guy on the other side of your trade - at least initially - is a market maker. Of course he's going to try to offset his trade with you against an opposing position against someone else, so eventually you're matched up against someone else.

Wait! That's exactly what spot brokers (dealers) do!

wmbelg · Mar 24, 2009

Great product, but we can't trade it at InteractiveBrokers.

wmbelg · Mar 24, 2009

Spreads appear to be even smaller than the E7 contract. Great product, but still untradable.

frugi · Mar 24, 2009

According to IB, trading of the new Globex Micro FX Futures on six US currency pairs will be available at the end of March.

http://www.interactivebrokers.com/en/general/communiques/2009/03-06-09.php

Will be interested in the commissions. I suspect they won't compete with IDEALPro.

<=USD 1,000,000,000 0.2 basis point (i.e 0.00002) *Trade Value min: USD 2.50

e.g
USD 50,000 for EUR = USD 2.50 com
USD 1,000,000,000 for EUR = USD 20,000 com

tar · Mar 25, 2009

still no volume there check the e-micro Euro hourly chart

neil · Mar 25, 2009

Volume will take a little time to build. Bad news for bucket shops

tar · Mar 25, 2009

i dont think it will be liquid ...

neil · Mar 25, 2009

$10000 ??

tightstops said:
spreads dont look anywhere near as tight as the 6e tho or even the bucket shops. when i first heard of this i thought it was going to be with the 6e contract ie youd see 40.6 on the 6e dom. this would have made much more sense and would have had potential to add some volume but i cant see how just creating a new contract will be any use this has been done already with the emini. another point worth considering is you need about $10000 to open a futures account which avoids about 90% of the $1 a tick punters theyd be trying to attract

Where does it say that in relation to the mini currency futures ?

wmbelg · Mar 25, 2009

wmbelg said:
Spreads appear to be even smaller than the E7 contract. Great product, but still untradable.

It appearrs that we can trade these contracts now. The margin is available.

traderstek · May 8, 2009

E-micro

neil said:
Volume will take a little time to build. Bad news for bucket shops

I have traded these products. The volume is low but the liquidity is high. I know that sounds counter intuitive but there are lots of contracts at each price level. If you have a platform that has market depth you will see what I am talking about. My experience is mainly limited to the EUR, and GBP. The spreads were pretty tight, usually about 2 ticks. They seemed to track the big contracts almost tick for tick (although there might be an opportunity for arbitrage.)

foredog · May 31, 2009

Anybody else trade these? Any good?

rawrschach · May 31, 2009

No liquidity.

You'd be better off with an ECN.

foredog · May 31, 2009

Thanks, always good to keep an eye on where it can be cheapest to trade.

Fx micro futures at CME

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