Not sure what the commission will be but the round turn commission would have to be low enough to profit off a tick. I'm guessing the exchange fees will be lowered for e-micros to attract order flow.

DmanX 

Not sure what the commission will be but the round turn commission would have to be low enough to profit off a tick. I'm guessing the exchange fees will be lowered for e-micros to attract order flow.

Most likely.

emini83 

Just a question. What margin should be for an emicro es when the emini is at about $400-500 pre contract? And what tick size should it be? $6.25 per tick or less? Thanx

DmanX 

It's 1/10 the size of the S&P e-mini so divide by 10. Ninjatrader Brokerage reports that they are offering $50 daytrade margin for s&P 500 micros which is 1/10 the DT margin for emini ES. Tick size will be $2.50 for e-micro The thing is, what will the all-in commission be?

emini83 

The tick size will be $2,50 and the commision will be maybe $4,00.

You guys should maybe read some of the last pages on thread and not just ask questions that have been answered multiple times - although margin hadn't specifically been answered recently. Also the tick on the S&P500 Micro is $1.25 and the other 3 Micro's is $0.50 and not $2.50.

Yeah, my bad on the tick size. Indeed it's $1.25, not $2.50

Curious to find out what the commission and exchange fees will be. Sent a message to several brokerages and no one seems to know yet. Most replied that it will probably be low enough to profit off a tick. We'll see.

DmanX 

Yeah, my bad on the tick size. Indeed it's $1.25, not $2.50 Curious to find out what the commission and exchange fees will be. Sent a message to several brokerages and no one seems to know yet. Most replied that it will probably be low enough to profit off a tick. We'll see.

Infinity Futures is doing a webinar April 25th at 10AM about E-micro indexes.

DmanX 

Yeah, my bad on the tick size. Indeed it's $1.25, not $2.50 Curious to find out what the commission and exchange fees will be. Sent a message to several brokerages and no one seems to know yet. Most replied that it will probably be low enough to profit off a tick. We'll see.

As I already said. If you look a couple of pages back you will get your answers. Exchange fees have been discussed in detail. Commission will be broker dependent, and there's little reason to think a brokers commission for these contracts will be different than any other contract. ie its going to be very very fee intensive to trade these contracts. But as I said, go back a few pages and you will see all the analysis on this

Here's a direct link to the CME page for the micos

https://activetrader.cmegroup.com/microemini/

SMCJB 

As I already said...

*rolleyes*

Quoting 

If you look a couple of pages back you will get your answers. Exchange fees have been discussed in detail.

Not really. From the brokers I contacted, a few believe the exchange fees will be different for these, notwithstanding the NFA fee, which is a penny.

Quoting 

Commission will be broker dependent, and there's little reason to think a brokers commission for these contracts will be different than any other contract.

Actually, there is reason to believe it. Otherwise, these contracts are DOA.

Quoting 

But as I said, go back a few pages and you will see all the analysis on this

Yeah mate, looked a few pages back and there's just speculation, analysis on the speculation. Speculation based on the current state of affairs. Nothing concrete, nor official.

In any event, in a few weeks, we will see some actual official figures from the exchange and brokers. A few brokers have officially stated that the daytrade margins will be ~ $50.

DmanX

*rolleyes*

ROFLMAO

@DmanX your wrong on every single account - so wrong that your even wrong on what the NFA fee is! (They changed 15 months ago!) It's not speculation. Exchange fees are announced (20c for non-members +2c NFA fee ... https://www.cmegroup.com/company/clearing-fees.html), Margins are announced (10% of ES. Doh! ... https://www.cmegroup.com/education/frequently-asked-questions-micro-e-mini-equity-index-futures.html - but obviously these are overnight rates and brokers have discretion to charge lower day trade rates). The only thing not announced is what individual brokers will charge in addition to exchange fees to clear them - as this is obviously broker dependent and not CME mandated - which as discussed heavily in the previous pages will be the most important thing in determining your cost - but can be expected to be the same as any other contract. As such I believe the consensus opinion in this thread is that this will be an excellent way to learn without getting destroyed but that due to commissions these are not viable as a stand alone trading instrument.

People may be underestimating the liquidity for these new micro products. If you look at the micros for the fx futures, they have a volume of generally 1/10 the larger mini. But even those minis do not have great volume. If micro index futures get 1/10 the volume of the index eminis, we are talking about daily volumes of about 100,000 contracts, which is not bad. However, it may go much higher then that for another reason. E-micro index futures will be a compelling alternative to index etfs for people who swing trade, primarily because of the ability to place an overnight stop. They will better reflect the 24 hour a day non-stop global economy. Thus, the emicros could siphon a significant amount of volume away from the index ETFs. If the index micros get enough volume, some brokers may start to be able to discount emicro trades at least to some degree to bring in the daytraders. But it may not happen initially.