Asian Markets - Brokerage P&Ls, Anyone?

General discussions about futures.
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strix
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Asian Markets - Brokerage P&Ls, Anyone?

Post by strix » Wed Mar 21, 2012 11:45 pm

As per Sluggo's advice, I've been verifying a bunch of foreign contract specs (BPV) by firing off 1-lots myself ... or finding someone else who already has.

The websites for Asian markets have a reputation for being unreliable, so I'll probably just have to pony up the bid/ask spread, but I thought I'd check here first.

So, do any of you have snippets of brokerage statements that you'd be willing to share for TOCOM, TSE, TFX, SGX, or KOFEX products? :D

If not, I understand completely. This is hard won/purchased knowledge.

rhc
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Post by rhc » Thu Mar 22, 2012 6:37 am

Customers of Interactive Brokers enter buy & sell orders via the online platform known as the ‘Traders Workstation’
You type in your order then if you think all is ok you click on “Transmitâ€

rhc
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Post by rhc » Thu Mar 22, 2012 6:55 am

Further to the above:
I remember once making a mistake with an Orange Juice order.
My daily data for the close quoted Orange juice at (say) 165.50
I placed an order to buy at 165.50 thinking that the BPV was $150 for the IB platform. If that was correct it should have resulted in a contract value of $24,825
When I checked the contract value via the “Check Marginâ€

Robwynge
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Post by Robwynge » Thu Mar 22, 2012 12:43 pm

rhc wrote:Where it gets confusing is that my daily data quotes 165.50 but IB quotes 1.655.
So it’s important to check the contract value to make sure you are placing the correct order & to ascertain the correct BPV's
I have this issue with RJO as well. It's web trading platform uses no decimals whatsoever. Something that trades a 6.50 might be quoted as 65000. Options on futures are the same, a call bid at .90 might be quoted as 9000. You need to be very careful when looking at units. It may just be a matter of time before I make the same mistake as rhc...

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