bond futures

Quote from Ebo:

Anybody trade E mini bonds?
Which contract is most active.
I know Z is the front month, which Root should I use?
The YHZ03 has NO volume! Am I missing something?.....or do I need to trade a "BIG"?
More...

Trade the "bigs" ZB and ZN for the bonds and notes. They are the electronic equivalents of the pit traded contracts.
 
as previously stated... there is no squawk box service for the bond pits. STILL I SEARCH!!!!... IF ANYONE wants to instant message me action from the pit or knows of any type of pit reporting service i am quite willing and able to pay for it, someone, somewhere gotta be doing something. thanks
 
to further explain... i am a little JOE SCHO trader so i only need this service for the opening 30 minutes each day.. plus reporting the occasional 10 am economic news. i only trade the opening so no neccesity for all that midday sqawking.
 
Hi,

ZB and ZN are listed as "night" sessions at a/c/e. During the day these are also available as "electronic". Are these truly algorithm-traded similar to ES and NQ or do the ZB and ZN follow the US and TY as traded in the pits in some "opaque" manner?

As I do not seem to find very meaningful information on this point, I wonder whether the ZB and ZN daytime transactions are to be trusted in online trading like the ES and NQ or does one have to be careful not to get screwed due to pit linkage?

Thank you for commenting.
 
I trade these exclusively - as to whether they are tied to the pits or not I have no real idea. Just that they are very close and usally within a tick or so.

I also used to concern myself with the comparison on the pit and electronic - but have just turned off the pit stuff and trade strictly the ace stuff. Don't have any problems with fills as there are usally more ZN traded per day than ES.

Make 'em pretty, Chris
 
Quote from nononsense:

Hi,

ZB and ZN are listed as "night" sessions at a/c/e. During the day these are also available as "electronic". Are these truly algorithm-traded similar to ES and NQ or do the ZB and ZN follow the US and TY as traded in the pits in some "opaque" manner?

As I do not seem to find very meaningful information on this point, I wonder whether the ZB and ZN daytime transactions are to be trusted in online trading like the ES and NQ or does one have to be careful not to get screwed due to pit linkage?

Thank you for commenting.
More...

Although ZB and ZN share identical contract specifications to the pit traded versions(US and TY) there is no order matching linkage between the ACE conracts and the pit contracts. Apples to apples so to speak. The CBOT merely decided to give traders a choice betwen which venue they wanted to use, and in the case of the 10 year, about 90% of non spread, i.e. lead contract month outrights, are now traded on the screen. In bonds about 70% of the volume is screen based.
 
Thank you guys for your comments.

In fact I could not find any nitty gritty info on ZN and ZB trading mechanisms at the CBOT website. They are supposed to have a chapter in their rulebook on this but the rulebook links appear to be dead.

Although CBOT is very skimpy on their T&S data - posted during 1 day only - they do not seem to publish any T&S for ZN an ZB.

nononsense
 
I guess this is a newbie question, why is the 30 year Bond cash trading at 103 and the futures contract for December delivery is at 109? That's a 6 percent of par value difference, why such a large differential?
 
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