2 Year Note Prices 8 decimal places

Discussion in 'Financial Futures' started by bone, May 17, 2018.

  1. bone

    bone ET Sponsor

    Just got this note from CME:

    • January 13, 2019 – 2-Year Treasury Note futures prices will extend to 8 decimal places. All customer systems must be ready to process 8 decimal place prices and the corresponding fractional display.
    Earth shattering.
     
  2. apo99

    apo99

    Wow that's sucks, I would have thought they were gona go the other way.
     
  3. bone

    bone ET Sponsor

    Right ? CME Globex has "enhanced" their systems to support up to 9 decimals. Geez.
     
  4. What the problem is?
     
  5. bone

    bone ET Sponsor

    Well, hopefully it won’t make implied pricing even less advantageous for liquidity providers - but I’m skeptical.
     
  6. Sorry was being facetious. I’m not familiar with notes so can’t say much. Just thought it’s insane to quote something in that small of increments.
     
  7. maxinger

    maxinger

    I hate those finanical instruments with sooo many digits.
    instruments like heating oil, hang seng index, euro, SGX china A50 ... should have the number of digits reduced.
    anyway nowadays I just click BUY / SELL AT MARKET PRICE.
    Don't want to spoil my eyesight looking at those numerous digits.


    best is crude oil futures ... - only 4 digits.
    5 digits - copper futures
    6 digits - euro futures, T notes, s&p 500 e mini
    7 digits - SGX ftse/xinhua china A50 index !!!


    There are some trading platforms that can cut down the number of digits to something more managable for some of the instruments.
    Hope to find a much better trading platforms which give can do that for all instruments.
     
    Last edited: Jun 2, 2018
  8. treeman

    treeman

    Look at it this way...

    Why is the YM easier to trade then the ES? For a lot of reasons, but the big one IMO is that for every 1 point the ES moves, the YM typically moves 10. There are 4 ticks in that 1 move for the ES and 10 ticks for the YM. Who's grabbing those extra 6 ticks? It's not the ES traders (the ES is great for other reasons).

    More ticks means less waste/smaller spreads. Having said that, I'm not a fan of this change.