maximum number of emini contracts in one order

Discussion in 'Index Futures' started by CoolTrader, Sep 6, 2002.

  1. What is the maximum number of emini contracts you can trade in one order? 50 or a few hunderd? I have different numbers from different sources. Thanks in advance.
  2. I just got a notice from the broker the limit was raised from 35 to 50. I think originally globex had a 35 limit, but I'm not sure now if this 50 limit is imposed by the broker or globex. I try not to involve myself with things which don't concern me.
  3. DaveN


    I think that 250 is the current limit on Globex.

    (Not that I trade that many....:D )
  4. DaveN


    Yup, I just found this in the CME Rulebook:


    The following provisions apply to the trading of stock index futures contracts on GLOBEX. To the extent that this rule is inconsistent with any other rule, this rule shall control.
    557.B. Execution of Orders [125]
    1. Orders of any quantity may be accepted for stock index futures for entry on the GLOBEX System. However, orders exceeding 250 contracts must be entered on the GLOBEX System as multiple entries each of which must not exceed 250 contracts. This restriction shall not apply to Long-Short Technology TRAKRS Index futures where orders of any quantity may be entered, within normal GLOBEX System limitations.

  5. If anyone ever had to complain about the 250 limit and was consistently profitable, I could only wish I had that problem in the far future myself.

    A 250 contract order would already probably produce .50 to .75 slippage both going in and coming back out, so this probably wouldn't work with scalping (I amuse myself at times).

  6. Are there any 1000 lot traders here on ET?

    Just curious about the slippage aphie mentioned.
    I think you could trade a 1000 lot with a 5min chart in the ES?

    Mmh, just 0.5 points a day with a 1000 lot...:D
  7. I am wondering why some firms have a limit of 50, which would keep them away from high volume traders; though I haven't reached that limit yet.
  8. (.50 * 50 * 1000) = $25,000 - ($4,800) = $20,200

    Yeah, that would be nice.


  9. Hubert


    some firms are resposiable for the risk so they just decide what they willing to risk ......... it all depends on if they are and (IB) or a (IIB) and the clearing firm FCM that they use .
  10. Aphie,

    I meant 0.5 points after commission, because that is the only number that counts.
    But since you brought the commission factor up in your calculation....I think a trader who is throwing around 1000 lots would like to buy a seat on the CME for currently $285,000 (IOM membership for index trading). If you ignore the globex fee which is capped at $50 per day, a member would only pay 15 cents per RT. :cool:
    So one RT with a 1000 lot would be $150, compared to $4,800 at IB....quite a saving:D

    Please correct me if I am wrong, but I think this would make a lot of sense.
    #10     Sep 7, 2002