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Does anyone here trade Brent Crude?
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Does anyone here trade Brent Crude?

  #21 (permalink)
Elite Member
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TOTAL FUTURES VOLUME

@SMCJB, don't know where you find those numbers, it' interesting to have the average historical volume, citing the souce it's useful.
Anyway I think that those numbers are composite, maybe are about the total listed futures contracts and not only about the current trading month.
As soon I have time I will post some schreenshots to show this, and to show that the daily volume on the trading platforms are right and the one of interest for trading the current month futures.

Take your Pips, go out and Live.
Luke.

Last edited by LukeGeniol; November 30th, 2015 at 09:07 AM. Reason: changed a word.
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  #22 (permalink)
Market Wizard
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LukeGeniol View Post
@SMCJB, don't know where you find those numbers, it' interesting to have the average historical volume, citing the souce it's useful.
Anyway I think that those numbers are composite, maybe are about the total listed futures contracts and not only about the current trading month.
As soon I have time I will post some schreenshots to show this, and to show that the daily volume on the trading platforms are right and the one of interest for trading the current month futures.

ICE Market Data Reports
CME Volume & Open Interest Reports

It's difficult comparing prompt month volume on a day-by-day basis as they have different expiries and hence are in different phases of the roll.

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  #23 (permalink)
Trading Apprentice
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SMCJB View Post
Average Daily Volumes in Oct'15
794,708 NYMEX Light Crude (WTI)
677,834 ICE Brent Crude
279,998 ICE Gasoil
157,865 NYMEX Heating Oil
143,545 NYMEX RBOB (Gasoline)
140,922 ICE WTI
95,184 NYMEX Brent

So why is there so much more slippage on BRENT with those numbers?

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  #24 (permalink)
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does brent has an open outcry hours like CL since there is no physical delivery involved?

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  #25 (permalink)
Market Wizard
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No. The IPE (basically Brent & Gasoil) now ICE Europe (a lot bigger) was one of the first exchanges to go all electronic in April 2005.

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  #26 (permalink)
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Composite Volume


swingfade View Post
So why is there so much more slippage on BRENT with those numbers?

These numbers are the composite volume for all contracts of every months listed for every instrument (all CL contracts, all Brent contracts, etc.), not only for the outright one ( the current contract with more volume.)
You can find the outright volume using free service like Kinetick end of day data on NT, or on a web data service like Barchart, or direcly on the exchange site.
Anyway the Brent slippage and "price jump" is more compared to CL, it depends also on the traded lots.
Try it and you will see that the sest bid and best ask are lower than CL.

Take your Pips, go out and Live.
Luke.

Last edited by LukeGeniol; December 21st, 2015 at 07:50 AM.
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  #27 (permalink)
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Yes, BRN is only electronical. some other interesting things are that on BRN you can see all the orders in the order book (level 2), not only 10 levels like on CL, and fees and commisions are much lower than CL.

Take your Pips, go out and Live.
Luke.
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  #28 (permalink)
Trading Apprentice
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LukeGeniol View Post
These numbers are the composite volume for all contracts of every months listed for every instrument (all CL contracts, all Brent contracts, etc.), not only for the outright one ( the current contract with more volume.)
You can find the outright volume using free service like Kinetick end of day data on NT, or on a web data service like Barchart, or direcly on the exchange site.
Anyway the Brent slippage and "price jump" is more compared to CL, it depends also on the traded lots.
Try it and you will see that the sest bid and best ask are lower than CL.

Thanks for that.. regarding lots what do you think each can take.. ballpark?

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  #29 (permalink)
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swingfade View Post
Thanks for that.. regarding lots what do you think each can take.. ballpark?

About 3-5 lots, you can also with some platforms use the iceberg orders.

Take your Pips, go out and Live.
Luke.
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