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Mini FDAX - FDXM from Eurex
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Mini FDAX - FDXM from Eurex

  #41 (permalink)
Market Wizard
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IB says to start on november 2nd (as mentioned in the sent mail).

It does not really matter what volume of the Mini is traded - as the pricing will be exactly the one of the
original Dax future divided by five. And with the same data stream.

Of course the pricing&commission of the Mini is higher (at IB) compared to the normal future.
Looks good that from november quite a lot of traders will trade the Mini to be able to buy in and scale
the lots easier...

Will be interesting what the Mini Volumes versus the normal one will show.
Let some 30 days pass - and then decide to eventually correct the rule sets with volume (down)..

GFIs1

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  #42 (permalink)
Market Wizard
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How the DaxMini looks on IB

Here the overview on the Dax Mini on IB.
It IS the same as the original Dax Future - but with multiplier 5 times instead of 25 times:

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GFIs1

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  #43 (permalink)
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GFIs1 View Post
Here the overview on the Dax Mini on IB.
It IS the same as the original Dax Future - but with multiplier 5 times instead of 25 times:


GFIs1

The new FDXM contract cannot be quoted in half points, therefore I do not understand how IB can show half points.
Minimum tick is 1 point.

Today the volume was over 3.500 contracts.
Spread was 2-3 points and always close to the FDAX.

I guess this is not too bad for the second day of trading, considering that some retail brokers do not offer it yet or offer less functions.

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  #44 (permalink)
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Tuschi View Post
The new FDXM contract cannot be quoted in half points, therefore I do not understand how IB can show half points.
Minimum tick is 1 point.

As I understood IB behaviour today - they "will" quote like the normal future. Why should they not?
They are free to do so - as they seem to not manipulate the stream...
Really not arguing here - just have a look how on Monday coming things will develop.

GFIs1

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  #45 (permalink)
The Narrow Road
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Smaller risk higher commission

Futures Edge on FIO
It will be interesting to see how the contract trades.

I believe that this will make the DAX a lot more sensible for a lot more people ....

A few points to join in with the conversation:

Regarding the relationship between commission and risk:
the market will decide .. I believe it will be a success.

Regarding the quote:

I believe that when fully rolled out that broker feeds will only quote full points. Currently some brokers may be approximating this but the contract specs say that the minimum tick is 1 point. It seems clear enough in the brief look at the documentation that I have seen.

I would not be prepared to draw blood with anyone on this, least of all with @GFIs1 ... I would be happy to bet some of @ratfink 's beer-sticks or @xelaar 's cat ...

I welcome the new contract.

p

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  #46 (permalink)
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Todays volume was 5.000 contracts so far, spread often only 2 points.

Attached is a 5 tick chart.

Attached Thumbnails
Mini FDAX - FDXM from Eurex-fdxm-5-tick.jpg  
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  #47 (permalink)
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biggest issue is the liquidity...
it will take time

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  #48 (permalink)
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Here's an update of the current 1m spread of FDXM vs FDAX:

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The designated market makers seem to start; as to be expected both sides of market depth
now show multiples of the minimum quotation quantities (i.e. x10) most of the time "near" to
the last quote.

In short: It's better than last week, but certainly not very liquid.

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  #49 (permalink)
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Tuschi View Post
Todays volume was 5.000 contracts so far, spread often only 2 points.

Attached is a 5 tick chart.

Not too bad for 5 ticks, for sure. 2 points is quite often seen on FDAX too. The problem here it's either 1 or 2, in FDAX it can be 0.5, 1.0, 1.5 ... and in CFD's 0.7 1.1 1.6 etc

With regards to allow plays with lower risk, one could always trade FESX, cheap and cheerful, but get fill on limit there is a pure nightmare, a market for hardcore fishermen with patience made of steel.

Trade to live. Not live to trade.
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  #50 (permalink)
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Today I looked at a 20 tick chart. Looks like price action is getting visible.

Spread is still mostly 2 point, but volume continues to rise, today over 6.200 contracts.
The big FDAX contract had 10 times the volume today. But it has been trading for ages and the FDXM not even for a week, so room for improvement

I read that IB is now offering FDXM too. I am with Ninjatraderbrokerage, I can now load the chart data of todays trading.

Attached Thumbnails
Mini FDAX - FDXM from Eurex-fdxm-20-tick.jpg  
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