Micro WTI and Brent New products

Discussion in 'Trading' started by lachie74, Aug 8, 2011.

  1. 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.



    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.
  2. Does anyone know how many small contracts equal a big contract?

  3. 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.
  4. How useless. Why don't they make a 100 lot contract?
  5. ?.....the CME website says the contract unit is.......1 barrel!!! WTF? :eek: :eek:
  6. Initial-------------------------Maint.

    6 USD------------------------5 USD

    Great, now we are going to get kids playing these with their lunch money.