Russian Ruble

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trader20
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Russian Ruble

Post by trader20 » Mon Nov 14, 2011 12:17 pm

Anyone noticed that the CME Russian Ruble is starting to becoming tradable? I see 167 contracts of the Dec have traded today. Sometimes I see a market only a few ticks wide (apparent market maker), other times a wide two sided market, but at least there *is* a two sided market, unlike CME's SA Rand.

Can anyone who has used EFPs explain the process?

Chris67
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Post by Chris67 » Fri Nov 18, 2011 11:55 am

I trade CME Russuan Rouble - i find iut every very tradable - sometimes more so that AUD or NZD - Seems for such low reported volume there is mostly a tight spread with plenty on either side
well correlated to the Euro mind !!

tovetski
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Post by tovetski » Sat Nov 19, 2011 11:20 am

Hi trader20,

This document seems to provide a rather thorough explanation of the workings of EFPs.

EFP Document

I'm curious to know how many TB members use EFP for illiquid CME/FINEX cross-pairs. Also, I wonder if all the EFP activity is actually reflected in the reported volume numbers. I figure they are not as they are OTC transactions negotiated between clients and their brokers. They are reported to the exchange after the fact.

Any comments from experienced traders using EFP would truly be appreciated on this one.

Thanks in advance.

Pierre

sluggo
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Post by sluggo » Sun Nov 20, 2011 6:33 pm

I think if you do a Search for EFP* here on the Trader's Roundtable, you may find the message dated Jul 07, 2010 to be illuminating. If you have access to the messages in the Trading Blox Support area of the Roundtable, your search will also show a message dated Sun Feb 17, 2008 that might also be useful.

EFP* matches any string which begins with EFP. Such as EFP, EFPs, EFP's, and so forth.

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