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The Small Exchange (www.smallexchange.com)


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The Small Exchange (www.smallexchange.com)

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  #11 (permalink)
Legendary Market Wizard
Chicago
 
Experience: Beginner
Trading: MYM, MES, YM, ES
 
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SMCJB View Post
That's very retail focused.

Indeed. I initially signed up to be a member the day before I traded my first live trade, around Jan 4 2019. I was really excited about this at the time because I was about to switch from sim-trading to actually trading the ES with real money and I thought these smaller contracts sounded amazing. This was obviously before the E-Micros emerged around May 2019.

They still haven't contacted me to collect the $100.00 to be an official member and I think I was pretty early on the list. A lot of the site is a work-in-progress too. I don't see anything on their calendar about going live and the fees aren't provided yet:


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  #12 (permalink)
Napa, California
 
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That's good news, I also signed up for the small exchange

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  #13 (permalink)
Houston TX
 
 
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OCC approves Small Exchange go live on 5/18/2020:
https://www.theocc.com/webapps/infomemos?number=46917

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  #14 (permalink)
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platon View Post
According to Tom Sosnoff start date is May 18. He also mentioned that Interactive Brokers , TD Ameritrade will participate.

That's great news for retail traders.

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  #15 (permalink)
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It seems like fee schedule has not been released. Are people signing up for membership simply because it is so cheap?

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  #16 (permalink)
Flagstaff AZ/USA
 
Experience: Beginner
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I don't know if their offer below I first saw last year is still on or not, excerpt:

"Pay once. Save every time you trade the Smalls. A one-time payment of $100 gets you:

A Lifetime Subscription. No annual or renewal fees.
50% off exchange fees. Give up less to place trades.
Reduced market data fees. See our quotes for less.

https://www.thesmallexchange.com/

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  #17 (permalink)
Legendary Market Wizard
Chicago
 
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casey44 View Post
I don't know if their offer below I first saw last year is still on or not, excerpt:

"Pay once. Save every time you trade the Smalls. A one-time payment of $100 gets you:

A Lifetime Subscription. No annual or renewal fees.
50% off exchange fees. Give up less to place trades.
Reduced market data fees. See our quotes for less.

https://www.thesmallexchange.com/

For quite a while tastyworks were also giving the memberships for free if you opened a new account. Not sure if that still stands.

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  #18 (permalink)
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Experience: Beginner
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NotKenGriffin View Post
It seems like fee schedule has not been released. Are people signing up for membership simply because it is so cheap?

In my case, I signed up back in early January of last year because the small contracts (which hadn't been defined yet, only that they would be ~1/10 the size of the standard corresponding contracts) sounded like a great way to learn about different instruments in different asset-classes. The CME had not created the E-Micros yet so this was a novel idea to me at the time as a new trader.

To be fair, I'm feeling mixed about it now. I don't know if a composite or "global" oil or precious metals contract will have the same "feel" as CL or GC (ie. like what MES is to ES) or if I even have the same learning needs I had early last year. I think they sound interesting nonetheless and if I get the reduced-fees deal I will probably try it out.

It was never about the cheapness of the commissions/fees for me though, it was about the opportunity to learn at less overall risk. I would say some of my perspective on this has changed with time and some more trading experience. I know very little about trading interest-rate futures so maybe the S10Y would be good for that, who knows, maybe I should bite the bullet and trade /ZB or /ZN. But I always thought of these contracts more as tools for learning/experience/scaling-up and never really cared about the commissions, etc.

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  #19 (permalink)
Singapore Singapore
 
Experience: Intermediate
Platform: NinjaTrader
Trading: ES
 
Posts: 9 since May 2020
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Small exchange has been officially launched on Jun 1:

https://smallexchange.com/

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  #20 (permalink)
Indianapolis/IN
 
Experience: Intermediate
Platform: SC, NT, ToS, my own
Broker: Stage5, InteractiveBrokers
Trading: ES
 
Posts: 67 since Jan 2013
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Edgeclear.com has a webinar about this on Tuesday June 9. FYI

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