Light Sweet & Brent Crude at ICE

Discussion in 'Energy Futures' started by cml2949, Aug 1, 2009.

  1. cml2949

    cml2949

    Hi,

    I'm looking for a brokerage that will allow me to trade the Crude oil & Light Sweet Oil at the ICE..

    Specifically, a Brokerage that will allow me to trade the Spread between the 2.

    I know IB offers these products, but I have to leg into each product one at a time and can not do the spread from the Spread Trader.

    Any advice on a retail firm that will let me trade the spread market?

    Thanks in advance..
     
  2. First I would recommend becoming familiar with the actual product you want to trade which can be found at the following link. https://www.theice.com/productguide/ProductDetails.shtml?specId=1242

    In order to trade this product you will likely need to open an account at a firm that specializes in futures, such as Advantage Futures, MF Global, or MBF Clearing Corp. If you do not want to pay for CQG or TT, WEBICE is a fairly cheap way to execute the spread yourself.
     
    Periscope likes this.
  3. cml2949

    cml2949

    Thanks , I will look into WEBICE .. I've never heard of it..

    Well, having such great software like TT or CQG doesn't give me the edge that I will be using. I wouldn't even use a 10% of what those softwares can do. Only the use of a spread trader will be useful.

    I will basically go to the market in order to put the spread on. I would like to find a futures brokerage that will allow me to trade the outright spread.

    Those softwares are indeed great suggestions..
     
  4. cml2949

    cml2949

    I've also looked into Trade Station or even Etrade..

    However, I'm almost positive I would have to leg into the spread individually with those 2 Brokerages..
     
  5. cml2949

    cml2949

    TerminatorXit,

    Thanks for the info .

    They actually have a quite a bit of spreads offered at the ICE.

    The products I'm interested in spreading is the Light Sweet Brent Crude Oil versus the Brent Crude Oil..

    I have contacted them and am waiting for a response..
     
  6. Hi,

    It's not the ICE you need to be contacting. You need to speak with an executing / clearing member firm, like Marex or Barclays for example.

    They will then set you up with either Direct Market Access and you will be able to trade under the member firm's umbrella with your own trader mnemonic and use webICE platform. Or you could use a phone broker. Depends what sort of size you trade I guess.

    PM me with the sort of size you're intending on trading and I can offer better advice.

    Cheers
    Papa.
     
  7. cml2949

    cml2949

    TerminatorXit,

    I contacted OEC and they do offer the ICE Brent Crude Oil and the ICE Light Sweet Crude Oil..

    However, they don't have a spread market for the two.

    Also, you can only place one order at a time.

    I think that would make it difficult to get the spread price I want.

    Even if I can go to the market placing 2 orders at a time would be more likely that I would still be within a few ticks of my spread price..
     
  8. I'd be surprised that OEC doesn't have the wti/brent spread.

    You can get it through RCG. I trade it through Dorman, who actually has to shop it out to RCG (Rosenthal). On Dorman I use the T4 platform, but no charts (only charts for ag and interest rate spreads), but you can make a link to excel and chart in there.
     
  9. cml2949

    cml2949

    Day4night,

    Yes, I checked with OEC and they don't have inter exchange spreads. At least that is what the rep told me. Maybe I should try a different one.

    Using Dorman you are able to trade the spread between ICE Brent & ICE Light Sweet Crude?

    Have you used the T4 Mobile for Dorman Direct?
     
    #10     Aug 3, 2009