4 replies to this topic

[zedor]

While I have traded the ES a great deal at IB I recently realized they also now allow trading of the big guys the SP futures . This is goods since


One ES mini has a commission of 2.40

One SP Future which is 5X the mini has a commission of 3.50

5 ES minis thus have a one way commission of 12.00 vs 3.50 for the big guy

The problem however has the following background;

During the night the GLOBEX entry for the SP futures shows active bid ask and last and can thus be traded.

During the same time (outside of regular market hours) the CME entry for the SP shows no bid and ask just the close from the previous day session.

Concurrently the ES GLOBEX shows a bid ask on the E mini (ES)

The issue is during the day.

During the regular trading day the GLOBEX SP (big ones) show no bid ask and cant be traded. The CME entry also shows no bid and ask just the last trade but can be traded.

Simultaneously the ES ( E mini) shows a bid ask and last during normal trading hours just as it did outside of normal trading hours.

So the questions are .

Can a big futures contract established on GLOBEX during the night for the SP (big ones) be offset by 5 ES (minis) during the day ?????

• Can one trade the CME SP with no bid ask shown during the day for the big ones?
• If yes to 2 above does such a trade offset a position established during the night on GLOBEX for the SP since it's a different TWS line ?

TIA

Edited by zedor, 04 August 2007 - 08:39 AM.

[...]

Why don't you just ask IB? I can tell you what some of the answers are. You can trade anything that shows on your TWS screen, whether or not you can see bids or offers, although most would not do so unless they have great confidence in a tightly-made market. The ability to see bids and offers is a function of whether or not you pay for the data from the exchange. Offset rules are determined by exchanges, not IB. Look 'em up.

[Russ]

I have traded the big contract on IB and had a trade get delayed for a long time which cost me a few hundred dollars. IB said that the big contract is not electronic and the trading floor people have problems sometimes. I would only trade the big contract on IB for long term position trade that I was very sure about. My experience may have been flukey but I am sticking with ES or ER2 both electronic with tight bid/ask and 24 hour trading if you want.

[zedor]

I have traded the big contract on IB and had a trade get delayed for a long time which cost me a few hundred dollars. IB said that the big contract is not electronic and the trading floor people have problems sometimes. I would only trade the big contract on IB for long term position trade that I was very sure about. My experience may have been flukey but I am sticking with ES or ER2 both electronic with tight bid/ask and 24 hour trading if you want.

Thank you Russ. What I was worried about. IB specifically states that for the CME the qoutes do not show bid ask since it is floor traded and not electronic.


FYI, what I have experienced, is that as long as the trades are outside normal market hours the Big Contracts trade as well as the ES on GLOBEX and have the advantage of lower commission and tighter spreads as on the ES the interval is 0.25 and the big ones 0.10.


This normally would not be an issue but when you see 10 -13 point swings in after market activity there are times a good trade can be made and why not bag some dollars.


This just for scalp trades and nothing to do with position trades that I have.

as far as ... the look up the aswer is as good as the persons name Posting rules prohibit me from fully expressing my thoughts on such a reply

Edited by zedor, 04 August 2007 - 10:56 AM.

[vitaminm]

http://www.tradingma...arterraving.cfm