The CME Euro FX controls 125,000 Euros and the E-Mini Euro FX controls 62,500 Euros Tick size (minimum fluctuation) is $12.50 for the Euro FX: http://www.cme.com/clearing/clr/spec/contract_specifications_cl.html?product=EC and $6.25 for the E-Mini euro FX: http://www.cme.com/clearing/clr/spec/contract_specifications_cl.html?product=E7 Is it 12.50 and 6.25 US Dollars or Euros? 0.0001 of 125,000/62,500 Euros would be 12.50 and 6.25 Euros, why the CME uses the $ symbol?
Logically, it could only be 12.50 Euros. It's incredible the CME made such a big mistake on this basic info.
Below would be 12.50 Euro's per tick. "The CME Euro FX controls 125,000 Euros and the E-Mini Euro FX controls 62,500 Euros"
forex-forex Must be a mistake, because each tick would be 12.50 Euro's. ################## Take case euro/dollar =1:1 one lot is 125000 euro =125000$ one tick is 12.5 $ after that think some ... about base and quote currency your respectfully
Yes, something here is incredible. Don't know what the poor Merc would do without sharp-eyed guys like you watching over them constantly.
Try this trade, on paper and/or on a calculator: buy to open 1 Euro FX @1.5340 (position value = 125,000 x 1.5340 = $191,875.00); sell to close 1 Euro FX @1.5341 (position value = ... = $191,887.50). What's the gross P/L, ignoring commissions? And there's your futures tick value. Hope this helps. To ensure that you've mastered the material, now repeat this simple exercise for the GBP/JPY future (1 contract = £125,000).
I figure it's a simple typo that got by the proofreader and the $ will be changed to € once they pick up the mistake.
Your calculations are completely wrong, but the concept is right: 125,000 Euros x 1.5340 $/Euro equals $191,750 125,000 Euros x 1.5341 $/Euro equals $191,762.50 So, yes, 1 pip in a 125,000 Euros contract equals USD $12.50