CME CSI Housing futures & options

[TGM]

On CNBC the CME rep stated that the initial margin was going to be about 2k on the contracts.

 

[luh3417]

They start trading these today, May 22nd. So we'll soon see if they fall on their face as many are fond of predicting.

http://www.cme.com/trading/prd/overview_HNG18558.html
http://www.cme.com/trading/prd/env/housingover16250.html

IB is not offering these yet: "At this time, upper management is considering whether to add this product to our system or not. Please keep posted to the web site for any changes in our product line.

I don't see any symbol for trading these yet. Says though "$250 times the S&P/Case-Shiller Metro Area Home Price Indices" so they'll be about $45 - $70,000 for each future.

Not sure what happens if there's a mismatch of people long/short the future. I guess with the options the price can compensate.

 

[luh3417]

The contract listings are here:
http://www.cme.com/clearing/clr/list/contract_listings.html?type=hng

At this writing, only Miami and L.A. have options, but all 10 city areas have futures.

Still no info under Time & Sales. It's been a month now.

Anyone know if these are selling, and a broker that handles them?

 

[nazzdack]

There are 10 cities plus the overall index. You can go to futuresource.com and set-up a custom quote board and/or a chart window to keep an eye on them. The volume and open interest numbers are "scary". Appointments to trade the contracts are usually available around 12-noon(CST) when the other pits are slow.