ES futures value in IB dashboard - does this make sense ?

SumZero

SumZero

My IB dashboard has ES futures June showing values that don't end up in .00 .25 .50 or .75
I'm really referring to ES futures and not ES index (which is also available).

Enclosed a snapshot.

2416.60 is Jun futures and 2415.82 is the ES index.

I questioned IB about the ES futures and got this answer:

This is expected behavior. The Dashboard displays the Mark Price, which is coming from the theoretical ticker and does not have to conform to the Price Increment Rules as that is the case for order submissions.
The only thing in effect here is the Price Display Rule which only states the data should go out to 2 decimal places, which it is.
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Does this make sense ? I thought that any quote of futures or stocks in dashboard were the price of the last executed trade.
 

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Out of curiosity I have to investigate what means "The Dashboard displays the Mark Price, which is coming from the theoretical ticker". I don't know the concept of theoretical ticker in ES. Never heard about it.
 
SumZero said:
Out of curiosity I have to investigate what means "The Dashboard displays the Mark Price, which is coming from the theoretical ticker". I don't know the concept of theoretical ticker in ES. Never heard about it.
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I'm curious too. Why would they display something called "theoretical ticker prices" if you can't get buys or fills at that price.
 
MACD said:
Generally, refers to the Mid Price between the Bid/Ask spread
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I just learned something new. I never heard of that before.

I bet IB didn't put that in their explanation guide to explain their ticker price labeled "ES".
 
Some who have replied to this thread do not understand the very important difference between MID (halfway b/w NBBO bid and ask) and MARK (a rules-based definition that is dependent on immediate-past market behavior, which in a slow or iliquid market will *not* be even *near* the MID). As well, these definitions are independent of asset choice -- it doesn't matter whether it's a liquid equity, a clunky bond, traded paper, future, index option, etf, whatever.
 
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