Hi all, Probably answering my own question, is there anyone here who trades the 180 or 380 fuel oil contracts on ICE, and can confirm the tick size is only $1? Contract Size 1,000 metric tonnes Unit of Trading Any multiple of 1,000 metric tonnes Currency US Dollars and cents Trading Price Quotation One cent ($0.01) per metric tonne Settlement Price Quotation One tenth of one cent ($0.001) per metric tonne Minimum Price Fluctuation One tenth of one cent ($0.001) per metric tonne The minimum price fluctuation is 0.001 per metric tonne, the contract is 1000 tonnes so a tick in minimum size is worth $1???? Any thoughts/help please?
Capua, I have not personally traded this particular exchange spread (symbol STS on ICE). But the volume and open interest are very nominal - May18 has an OI of 1,170 with a Daily Volume of 80; Jun18 has an OI of 801 with a Daily Volume of 15. Unless you are a commercial (and they are very active in the swaps market to a much greater extent than the futures) IMHO it wouldn't make any sense to get involved with this particular contract. https://www.theice.com/marketdata/reports/144