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CME 6E & 6B spreads
Started:February 16th, 2011 (04:33 AM) by Chewy71 Views / Replies:6,259 / 13
Last Reply:March 18th, 2013 (06:08 AM) Attachments:0

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CME 6E & 6B spreads

Old February 24th, 2011, 09:50 AM   #11 (permalink)
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OK, here is my latest understanding. The charts for Futures show us the last traded price unlike spot which usually shows the bid price constantly. There's always a bid and ask price on futures, usually 1 tick for 6E (I checked Dorman and they have 1 tick as well, see a couple of posts above).

So my conclusion at the moment is that the chart is showing where buyers & sellers are being matched giving the impression there is no spread.

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Old March 18th, 2013, 02:37 AM   #12 (permalink)
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Which Broker has the 6E,6B contracts?. kindly let me know

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Old March 18th, 2013, 03:03 AM   #13 (permalink)
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Which Broker has the 6E,6B contracts?. kindly let me know

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Old March 18th, 2013, 06:08 AM   #14 (permalink)
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I cannot see how trading off a chart would make any difference to the bid/ask? Generally the Bid price is displayed on the chart and the ask line is hidden.

For example if i was to enter a market order long on Euro at say 1.3500 as displayed on my chart it would put me in at 1.3501 due to my spread being 1 tick. Now to come out the trade breakeven i would need to close at 1.3502 allowing 1 tick to cover commission. So in this example we have 1 tick of spread and approx 1 tick of commission to cover for BE trade.

As a spot forex trader on EU a variable spread of 0.4 to 1.2 pips plus 1 pip commission so my round trip to BE would be between 1.4 - 2.2 pips

So is a zero spread or "locked market" normal for futures? Can you get in and out the market for less than spot? In addition one thing i didn't take into account was data feed fees and charting costs. Spot FX is generally free in this regard. i.e. why trade futures over spot?

Since the trading of a futures contract like 6E / 6B is on an exchange as opposed to the spot FX market, the standard chart plots the 'traded' price instead of the ask line or the bid line, which are not points on the chart.

A zero spread happens momentarily but I guess given the liquidity during non-news events the arb folks jump in and ask/bid goes back to a spread situation.

Why trade futures over spot?

Because then you are trading on a 'real' exchange and not for e.g. against your broker/dealer or are not at the mercy of artifically widening spreads etc. The difference (positive) is enormous.

Last edited by iqgod; March 18th, 2013 at 06:13 AM.
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