e-miNY Energy Futures to Begin Trading on June 17

http://www.cme.com/news/shownews.cfm?NewsItem=0007E4F0-D443-1CEB-A56B80EDBEFB0000

This is all about the specs of these 2 contracts.

Yes 50 contracts is not a lot, I think it is because COMEX doesn't want it to be very liquid... :-(

Minimum Price fluctuation will be 0.025$ for crude oil.
What is then the point value ?

Don't understand the calculation about 1$ on Crude oil is equivalent to 400$ (0.025*40=1 so it may be 40$ instead of 400$ no ?)

Can you clarify your calculation ?
 
e-miNY Crude Oil

$0.01 per barrel = $4

$0.025 per barrel = $10

$1.00 per barrel = $400

$15.00 per barrel = $6,000


e-miNY Natural Gas

$0.005 per mmBtu = $20

$0.01 per mmBtu = $40

$0.10 per mmBtu = $400

$2.00 per mmBtu = $8,000
 
I would think the size limit came from the NYMEX which didn't want to see its trading floor vacated overnight. Another advantage is you will be able to do without the expensive NYMEX realtime data fee if it is available through globex, unless you want to arb or need the HU and HO.

I think this could even add to the pit-traded volume. I often pass on daytrades in the crude because I am afraid I will get hosed on the exit if something goes wrong. Now I cna put the trade on and quickly off set it with globex if it turns on me, then take the hedge off if it reverses.
 
I just noticed the globex contract spec said that 50 contracts is the max "transaction" size, not the max holding. So does that mean you could do 50 lots one after the other on the same side?
 
looks that way.. when emini started, the max size per trade was 30 lots ... but you cld add 30 lots per trade all day long.. sounds like the same restrictions..
 
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