NexusFi: Find Your Edge


Home Menu

 





The next CME Micro, MICRO CRUDE, coming July 12th


Discussion in Commodities

Updated
      Top Posters
    1. looks_one SMCJB with 9 posts (34 thanks)
    2. looks_two FuturesTrader71 with 3 posts (14 thanks)
    3. looks_3 xplorer with 1 posts (0 thanks)
    4. looks_4 dannyinhouston with 1 posts (2 thanks)
      Best Posters
    1. looks_one FuturesTrader71 with 4.7 thanks per post
    2. looks_two SMCJB with 3.8 thanks per post
    3. looks_3 tr8er with 3 thanks per post
    4. looks_4 OftenBonus10 with 2 thanks per post
    1. trending_up 6,641 views
    2. thumb_up 57 thanks given
    3. group 11 followers
    1. forum 18 posts
    2. attach_file 0 attachments




 
Search this Thread

The next CME Micro, MICRO CRUDE, coming July 12th

  #11 (permalink)
 
xplorer's Avatar
 xplorer 
London UK
Site Moderator
 
Experience: Beginner
Platform: CQG
Broker: S5
Trading: Futures
Posts: 5,973 since Sep 2015
Thanks Given: 15,494
Thanks Received: 15,388


SMCJB View Post
I think it will be hugely successful

Are you going to trade it?

Reply With Quote

Can you help answer these questions
from other members on NexusFi?
MC PL editor upgrade
MultiCharts
Pivot Indicator like the old SwingTemp by Big Mike
NinjaTrader
Better Renko Gaps
The Elite Circle
REcommedations for programming help
Sierra Chart
ZombieSqueeze
Platforms and Indicators
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Spoo-nalysis ES e-mini futures S&P 500
48 thanks
Just another trading journal: PA, Wyckoff & Trends
35 thanks
Bigger Wins or Fewer Losses?
24 thanks
Tao te Trade: way of the WLD
24 thanks
GFIs1 1 DAX trade per day journal
22 thanks
  #12 (permalink)
 
SMCJB's Avatar
 SMCJB 
Houston TX
Legendary Market Wizard
 
Experience: Advanced
Platform: TT and Stellar
Broker: Advantage Futures
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,049 since Dec 2013
Thanks Given: 4,386
Thanks Received: 10,207


xplorer View Post
Are you going to trade it?

I'll trade anything I can make money on but I suspect that
a) fees will be high, hence opportunity will need to be higher
b) based upon QM, there will be a lot of market makers. so opportunities will be low
so I suspect my activity will be less than I would like in an ideal world.

Started this thread Reply With Quote
Thanked by:
  #13 (permalink)
 
SMCJB's Avatar
 SMCJB 
Houston TX
Legendary Market Wizard
 
Experience: Advanced
Platform: TT and Stellar
Broker: Advantage Futures
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,049 since Dec 2013
Thanks Given: 4,386
Thanks Received: 10,207


Fees...

Full Size (CL)
Member 70c
Non-Member $1.50

eMini (QM)
Member 55c (ie $1.10 on an equivalent basis, or 1.57x times)
Non-Member $1.20 (ie $2.40 on an equivalent basis, or 1.60x times)
Cash Settlement - No charge

NEW-Micro (MCL)
Member 20c (ie $2 on an equivalent basis, or 2.86x times)
Non-Member 50c (ie $5 on an equivalent basis, or 3.33x times)
Cash Settlement - same as trade fee!

Makes it difficult to trade spreads. Round turn as a member for a spread on CL is $6 or 0.6 ticks but for the micro it's $2 or 2 ticks!

Spread trading in the Micro Bitcoin is already impossible. Round Turn commissions for a spread are over $100/coin versus a bid ask of less than $20/coin (MN is currently 63/80)

As a spread trader, the shift of liquidity to the Micro's is concerning.

Started this thread Reply With Quote
  #14 (permalink)
vpd1952
memphis
 
Posts: 77 since Mar 2020
Thanks Given: 211
Thanks Received: 23

SMCJB - FuturesTrader71 ,

Can you please help clarify the upcoming micro crude contract ( MCL ) for me please:

The contract will be 0.01 / $1 per tick = 10 ticks in a point. So a 1 point i.e. $1 move in Crude Oil ( MCL ) will = $10 - A move from $109 to $110 in Crude Oil will = $10 for the MCL ?

Thank you for your help and for clarifying for me - can't wait to trade this Contract and the position sizing that it will allow for !!

Reply With Quote
  #15 (permalink)
 
SMCJB's Avatar
 SMCJB 
Houston TX
Legendary Market Wizard
 
Experience: Advanced
Platform: TT and Stellar
Broker: Advantage Futures
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,049 since Dec 2013
Thanks Given: 4,386
Thanks Received: 10,207

@vpd1952 I believe you are right that the contract will be 0.01 / $1 per tick but there are 100 ticks (pennies) in a point (dollar). So a 1 point i.e. $1 move in Crude Oil ( MCL ) will = $100 not $10. - A move from $109 to $110 in Crude Oil will = $100 for the MCL !

edit/PS @vpd1952. If you want to mention somebody so they get a notification that you mentioned them you need to add "@" in front of their name.

Started this thread Reply With Quote
Thanked by:
  #16 (permalink)
 creamyyy 
Brisbane, Australia
 
Experience: Intermediate
Platform: Sierra Chart
Posts: 60 since Aug 2020
Thanks Given: 56
Thanks Received: 109

AMP have updated their calculator to show all in costs.
$1.34 R/T

Visit my NexusFi Trade Journal Reply With Quote
Thanked by:
  #17 (permalink)
 
SMCJB's Avatar
 SMCJB 
Houston TX
Legendary Market Wizard
 
Experience: Advanced
Platform: TT and Stellar
Broker: Advantage Futures
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,049 since Dec 2013
Thanks Given: 4,386
Thanks Received: 10,207

As @creamyyy says the fee structure is now announced.

Exchange fees per side. Does not include NFA Fees (2c) or FCM Clearing Fees (variable).

CL - Crude Full Size (1000 bbl) [Existing]
Member Day Trade 55c
Member Overnight 70c
Non-Member $1.50

QM - Crude E-mini (500 bbl) [Existing]
Member Day Trade N/A
Member Overnight 55c (ie $1.10 equivalent or +100% of full size)
Non-Member $1.20 (ie $2.40 equivalent or +60% of full size)
Member Cash Settlement 0c
Non-Member Cash Settlement 0c

MCL - Micro Crude Full Size (100 bbl) **NEW**
Member Day Trade N/A
Member Overnight 20c (ie $2 equivalent or +185% of full size)
Non-Member $0.50 (ie $5 equivalent or +233% of full size)
Member Cash Settlement 20c (ie $2 equivalent full size)
Non-Member Cash Settlement 50c (ie $5 equivalent full size)

Started this thread Reply With Quote
  #18 (permalink)
 
dannyinhouston's Avatar
 dannyinhouston 
Houston Texas
 
Experience: Intermediate
Platform: NinjaTrader
Trading: CL, YM, NQ, ES
Posts: 329 since Mar 2016
Thanks Given: 287
Thanks Received: 1,044

Here are the contract specs:

https://www.cmegroup.com/trading/energy/micro-wti-crude-oil-futures.html

Reply With Quote
Thanked by:
  #19 (permalink)
 
SMCJB's Avatar
 SMCJB 
Houston TX
Legendary Market Wizard
 
Experience: Advanced
Platform: TT and Stellar
Broker: Advantage Futures
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,049 since Dec 2013
Thanks Given: 4,386
Thanks Received: 10,207

Well it's live. Not the roaring success that Micro Bitcoin was from day one but we will see.

Started this thread Reply With Quote




Last Updated on July 11, 2021


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts