Any one know much about the 2 new micro oil contracts listed on NYMEX? Supposed to go live today but I don't see them on my IB platform yet. http://www.cmegroup.com/trading/ene...rude-oil-futures_contract_specifications.html http://www.cmegroup.com/trading/ene...inancial-futures_contract_specifications.html DATE: July 29, 2011 SUBJECT: Listing of Micro Crude Oil and Micro Brent Crude Oil Futures on NYMEX Trading Floor and CME ClearPort Effective Sunday, August 7, 2011, for trade date Monday August 8, 2011, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will list two micro crude oil contracts for trading on the NYMEX trading floor and for submission for clearing through CME ClearPort. These futures contracts will be financially settled. The contracts are listed with NYMEX, and subject to the rules and regulations of NYMEX and Chicago Mercantile Exchange Inc.
Seems IB still hasn't added theses contracts. I've started a request for them: http://www.interactivebrokers.com/en/general/poll/poll.php?sid=7496 Any IB clients who are keen for these contracts can vote there. Would make playing the Brent - WTI spread a little easier.
unless i'm reading this wrong AFAIK, it's 1000. (see OP links to cme). the micro is 1 barrel (IMO that is too small). your commissions will be ridiculous trading these things. my prediction: the volume will never be there and the product will slowly fade away.
Initial-------------------------Maint. 6 USD------------------------5 USD Great, now we are going to get kids playing these with their lunch money.