FTSE 100 moving from ICE to CME?

Discussion in 'Index Futures' started by TD877, Mar 19, 2017.

  1. TD877

    TD877

    It has been well reported that CME gained "exclusive" rights to FTSE and Russell index contracts starting July 1st. I assume that would mean FTSE 100 contracts, however CME only lists mini FTSE 100s now, and ICE lists full contracts going well into 2018 on their webpage. So is ICE keeping the full size FTSE 100?

    https://www.theice.com/products/38716764/FTSE-100-Index-Future/expiry
     
  2. southall

    southall

    I think it is only exclusive in the US, i.e. they are the only US exchange that can offer them.
    I think ICE EU might still offer them and will probably still be the main liquidity unless CME can steal most of the volume, which is unlikely.

    I never saw any news stories saying ICE was going to lose the FTSE 100, but there are plenty where they are going to lose the Russell 2000, which i think the CME has gained exclusive worldwide rights to the R2K.

    I could be wrong though, the press releases were not very clear.
     
    Last edited: Mar 19, 2017
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  3. I would love to see the RUT move to the CME, which I've heard rumblings. $120/month for RUT futures data on ICE is soul crushing. Ok... maybe i over stated that. It's annoying.
     
  4. southall

    southall

    Yeah hopefully they will reduce that data fee.
    But we have to be careful what you wish for, we dont yet know the clearing fee CME are going to charge. If they charge the same as YM,ES,NQ it will be double what it currently is on ICE, they split its notional value recently and halved the clearing fee.
    We will know soon enough, only 3 months till it moves over.
     
  5. i960

    i960

    To all the people saying they'd love to see TF move to CME because you don't want to pay the "exorbitant" 120$: You'll be paying that and more in losses once the Russell gets arb'd to death on CME as cross-index margining will be much more direct on the same exchange.

    Anything you like about the Russell's behavior now is going to get trashed by HFT jackals once it hits CME.

    ICE may be a high cost for data player but they're a necessary player - because they help keep CME in check.
     
  6. the russell2k coming back to the CME sure is good news ! :D
     
  7. southall

    southall

    NQ must be arbed to death on the CME as well then. But is perfectly tradable on the CME.

    Russell has traded on the CME before, was way better than what it traded on the ICE.

    ER2 (or whatever they call it) has to follow the underlying 2000 stocks at the end of the day. HFT cant change that fact.
     
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  8. i960

    i960

    It *is* arbed to death.

    The market environment/players when ER2 was alive was different than it is now. If you're expecting it to just resume where it left off, fat chance.

    Also, people are bitching about 110$/month in data fees? Yeah, it's expensive, but it isn't 500$/month, and if you can't recover that in 20 days of trading, then you're undercapitalized.
     
    Gynesis likes this.