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Got an e-mail from ICE saying TF is going down to $5.00 a tick.
"Effective Monday, December 5, the price multiplier for all Russell futures contracts traded on ICE Futures U.S. is being reduced by 50%, from $100 X Index to $50 X Index*. This means that the nominal value of each futures contract is also reduced by 50%.
Among the effects of the multiplier change:
•
All ICE Russell futures and options positions that are open at the close of trading on December 2 will double (the Exchange does this automatically)
•
The tick size for the futures contracts DOES NOT change (.10), but the value of the tick DOES change, decreasing from $10 to $5
To accommodate this change, the Exchange and Clearing fees for Russell contracts will also be reduced by 50% as of December 5.
For more information about the price multiplier change in the ICE Russell contracts, please see the October 21 Exchange Notice and the Exchange FAQ on the Russell Index Price Multiplier Change."
I guess they are too fricking stupid to realize the reason few people trade this is because of the absurd data fee. Kind of lame to think that more people will be interested to trade it because it's a smaller dollar amount. Looking forward to returning to the CME and hopeful return to $10 a tick.
What? This is terrible. TF is my money maker. First the insane data fee, and now double the commission fee to make the same profit amount? Just awful. Yes, I hope it returns to CME and goes back to $10. If there's a way to help make that happen, I'm all in.