E-mini Russell 2000 Futures

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TrendsCatcher
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E-mini Russell 2000 Futures

Post by TrendsCatcher » Thu Sep 04, 2008 12:58 pm

Does anyone know the reason that CME is delisting the E-mini Russell 2000 futures contract? The contract has been well received by the trading community, and liquidity is excellent, I am curious why they would like to close a good product, and if there is any replacement for this contract, besides the full Russell 2000 contract on ICE/NYBOT?

sluggo
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Post by sluggo » Thu Sep 04, 2008 1:14 pm

ICE approached the Frank Russell company, opened their checkbook, and asked "How much would it cost us to buy an EXCLUSIVE license to list futures contracts on your Russell 1000 (largecap), Russell 2000 (smallcap, i.e. "ER2"), and Russell 3000 (universe) stock indexes?"

Russell named a price. ICE wrote the check. End of story.

If you don't like it, write a letter to your congressman. Write a letter to ICE. Write a letter to the CME. Write a letter to the Frank Russell Company. Explain why this is a bad idea and why they should nullify the deal immediately. It only costs 42 cents to mail a letter, why not give it a try?

TrendsCatcher
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Post by TrendsCatcher » Thu Sep 04, 2008 4:10 pm

Thanks for the information. Seems the war among exchanges are gaining momentum.

"It only costs 42 cents to mail a letter, why not give it a try",

It does cost 42 cents to send a mail nowadays? I sent a few mails out using 1 37-cent stamp, and then 2 2-cent stamps, working out to be 41 cents, now I worry if those mails will reach their destinations.

No matter what, I won't send a mail becuase as a trade, although the risk is rather low (41 cents or 42 cents), the probablity of it working out is virtually zero, so I would be trading a system with negative expectancy had I decided to send a mail :D

Instead of complaining, I choose another alternative: I will just be focusing on the E-mini SP500 futures. As a trader, I will try to focus on what I can control 8)

nodoodahs
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Post by nodoodahs » Thu Sep 04, 2008 4:33 pm

sluggo wrote:ICE approached the Frank Russell company, opened their checkbook, and asked "How much would it cost us to buy an EXCLUSIVE license to list futures contracts on your Russell 1000 (largecap), Russell 2000 (smallcap, i.e. "ER2"), and Russell 3000 (universe) stock indexes?"

Russell named a price. ICE wrote the check. End of story.

If you don't like it, write a letter to your congressman. Write a letter to ICE. Write a letter to the CME. Write a letter to the Frank Russell Company. Explain why this is a bad idea and why they should nullify the deal immediately. It only costs 42 cents to mail a letter, why not give it a try?
You left out another alternative -- write a BIGGER check. :lol:

TrendsCatcher
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Post by TrendsCatcher » Fri Sep 05, 2008 1:41 pm

There is yet another alternative: take over ICE.

A question: is ICE now a US company or a British company? ICE seems to be quite evasive in directly answering this question.

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Post by TrendsCatcher » Wed Sep 10, 2008 4:36 pm

So, seems that NYBOT now has two Russell 2000 based futures contracts:

The full-size contract has a multiple of 500 and the mini-sized one with a mutliple of 100, just like the to-be-delisted ER2.

Let's hope that volume picks up in the new mini-contracts.

hopewell168
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Post by hopewell168 » Sun Dec 12, 2010 11:35 am

Hi,

Does anyone know if CSI includes data on new emini Russell 2000 listed in ICE now? It has having a huge volume.

I searched CSI market spec sheet and it seems only have old ER2 under CME. ??

sluggo
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Post by sluggo » Sun Dec 12, 2010 12:33 pm

Yes, CSI offers data on the new Russell 2000 emini futures contract. One way to find it uses the Google internet search engine; another way uses the Market Specs function within CSI Unfair Advantage, which calls up a Factsheet.

The contract itself is described on ICE's website: https://www.theice.com/productguide/Pro ... ?specId=86
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hopewell168
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Post by hopewell168 » Sun Dec 12, 2010 3:09 pm

Sluggo,


I realized later that I can see it if I search under "North American Futures" but not under "domestic stock index futures". also CSI lists it under NYFE, not ICE. Not sure why. Symbol is TF2.

Just about posting a revision and you beat me. You are the best as always!

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