SMCJB 

I think it will be hugely successful

Are you going to trade it?

xplorer 

Are you going to trade it?

I'll trade anything I can make money on but I suspect that
a) fees will be high, hence opportunity will need to be higher
b) based upon QM, there will be a lot of market makers. so opportunities will be low
so I suspect my activity will be less than I would like in an ideal world.

Fees...

Full Size (CL)
Member 70c
Non-Member $1.50

eMini (QM)
Member 55c (ie $1.10 on an equivalent basis, or 1.57x times)
Non-Member $1.20 (ie $2.40 on an equivalent basis, or 1.60x times)
Cash Settlement - No charge

NEW-Micro (MCL)
Member 20c (ie $2 on an equivalent basis, or 2.86x times)
Non-Member 50c (ie $5 on an equivalent basis, or 3.33x times)
Cash Settlement - same as trade fee!

Makes it difficult to trade spreads. Round turn as a member for a spread on CL is $6 or 0.6 ticks but for the micro it's $2 or 2 ticks!

Spread trading in the Micro Bitcoin is already impossible. Round Turn commissions for a spread are over $100/coin versus a bid ask of less than $20/coin (MN is currently 63/80)

As a spread trader, the shift of liquidity to the Micro's is concerning.

SMCJB - FuturesTrader71 ,

Can you please help clarify the upcoming micro crude contract ( MCL ) for me please:

The contract will be 0.01 / $1 per tick = 10 ticks in a point. So a 1 point i.e. $1 move in Crude Oil ( MCL ) will = $10 - A move from $109 to $110 in Crude Oil will = $10 for the MCL ?

Thank you for your help and for clarifying for me - can't wait to trade this Contract and the position sizing that it will allow for !!

@vpd1952 I believe you are right that the contract will be 0.01 / $1 per tick but there are 100 ticks (pennies) in a point (dollar). So a 1 point i.e. $1 move in Crude Oil ( MCL ) will = $100 not $10. - A move from $109 to $110 in Crude Oil will = $100 for the MCL !

edit/PS @vpd1952. If you want to mention somebody so they get a notification that you mentioned them you need to add "@" in front of their name.

AMP have updated their calculator to show all in costs.
$1.34 R/T

As @creamyyy says the fee structure is now announced.

Exchange fees per side. Does not include NFA Fees (2c) or FCM Clearing Fees (variable).

CL - Crude Full Size (1000 bbl) [Existing]
Member Day Trade 55c
Member Overnight 70c
Non-Member $1.50

QM - Crude E-mini (500 bbl) [Existing]
Member Day Trade N/A
Member Overnight 55c (ie $1.10 equivalent or +100% of full size)
Non-Member $1.20 (ie $2.40 equivalent or +60% of full size)
Member Cash Settlement 0c
Non-Member Cash Settlement 0c

MCL - Micro Crude Full Size (100 bbl) **NEW**
Member Day Trade N/A
Member Overnight 20c (ie $2 equivalent or +185% of full size)
Non-Member $0.50 (ie $5 equivalent or +233% of full size)
Member Cash Settlement 20c (ie $2 equivalent full size)
Non-Member Cash Settlement 50c (ie $5 equivalent full size)

Here are the contract specs:

https://www.cmegroup.com/trading/energy/micro-wti-crude-oil-futures.html

Well it's live. Not the roaring success that Micro Bitcoin was from day one but we will see.