Effective start of trading date on Monday, December 5, 2016, the price multiplier for all Russell Index futures and option contracts will change to $50 per index point, from the current $100 multiplier. This means that at the new $50 multiplier, the notional value of a futures contract that has a price of 1183.00 would be $59,150 (vs. a notional value of twice that amount at the $100 multiplier). Please note, the daily statement you receive at the close of business on December 5, 2016 will replace your one (1) Russell Index contract with two (2) Russell Index contracts for position(s) you have on Friday, December 2, 2016 at the current multiplier of $100. Furthermore, that same statement will reflect those same Russell Index position(s) you may have had on Friday, December 2, 2016 at the new multiplier of $50, as separate line items. For example: -A long position on Friday of 10 contracts will become a long position of 20 contracts on trade date Monday morning. -With the new lower tick and contract value, the open trade equity value of the 10 lot on Friday will be identical to the open trade equity value of the 20 lot on Monday morning (using the same settlement price). Recap of Changes: -The price multiplier in Russell Futures and Options Contracts will change from $100/point index to $50; -Change will affect all ICE US Russell Index Futures and Options; -All Good-To-Cancel (GTC) orders open as of close of business on December 2, 2016 will be cancelled; -Exchange and Clearing fees will be cut in half, effective trade date December 5, 2016; -Initial and Maintenance Margin levels will be adjusted; -Position limit levels will be doubled effective December 5, 2016; -Reportable levels will remain unchanged at 200 contracts; and -Minimum tick value will be $5.00. Attached is a FAQ that has been published by the Intercontinental Exchange, Inc (ICE).
It says exchange and clearing fees will be cut in half. I wasn't away that CME had control over the clearing groups pricing
Internally, they charge clearing and execution. If you transact electronically, the execution fee is for globex. Yes, they get both. On some schedules they have combined them to make it easier to understand.
Good info - That will make the EMD the U.S. Indice contract with the largest price range, I wish they kept the sizes of the indices portioned to match the volatility of the underlying indexes they track.
Beginning inexperienced trader who is going to be the prize at a carnival any better? It be like me thinking I am prepared to walk a tightrope between John Hancock and Sears building in Chicago.