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5. Futures Economic Reports for Tuesday March 1, 2016
Hello Traders,
For 2016 I would like to wish all of you discipline and patience in your trading!
Greetings!
So as many of you know the ICE exchange has decided to charge all users (professionals and non professional) $110 per month to receive real-time data. This is compared to the CME which charges $86 for professionals (brokers, hedge funds etc.) but a “normal amount of $5 to retail users ( i.e. large percent of the trading public). If you ask me not a bright move on the part of the ICE exchange and they may see volume drop quite a bit on certain markets.
In between, I have more than a few clients who are trading the mini Russell 2000 and like it, but are not so sure about paying $110 per month for the privilege to trade this one….While ICE also hosts coffee, sugar, dollar index and a few other markets, the mini Russell is so far the one that caught most interest.
I did some homework and while the CME does offer the mini Russell 1000, the volume on this one, so far is pathetic….(I think it traded 83 contracts on Friday). HOWEVER….the CME for the same $5 per month most users pay to trade the ES and NQ along with currencies, also has the mid cap 400. Symbol is EMD on the Transactand Shogun platforms as well as E-futures International.
Not bad volume, same tick size as mini Russell 2000 and from the quick research seems to move in similar ways. Worth exploring, perhaps using in demo mode or simply following price movement as the ICE change will go in effect April 1st.