Futures Prop and the Currency Markets

Quote from Load_the_boat:

Do you trade the currency futures during the european session much? I was wondering what the spreads on the euro are typically during this time. My impression is the euro is the only one that gets much volume... so you find the conditions good enough to trade sounds like.
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sometimes.

if the us session is likely to be quiet, then i will try the euro session.

spread will typically be 1-2 ticks.

sure, i wouldnt trade other fx futures in the european session, only ec. although volume is thinner, it still follows the cash pretty well.
 
What about European futures exchanges?

Are there any European futures exchanges that have FX futures with high volume/liquidy during European trading hours?
 
yeah, i was a currency trader at what is probably the biggest futures prop operation there is, no they don't trade the cash at all, yes, many do trade the european session.
 
Quote from LondonUSTrader:

Yes and yes. More cash than futures, but some trade futures or rather start off by trading futures then move to cash when they get good.
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this dosen't really make much sense, as the cash is generally considered less tricky to trade than the futs. the only thing that makes cash tougher from the retail end are the spreads and the MM/trader conflict of interest. but from an institutional standpoint, obviously this doesent apply... it would be interesting to know which firm you are reffering to...
 
Quote from Load_the_boat:

Considering much of the movement in the currency markets happen during the european session do futures prop firms have traders that trade during this time? Looks like the futures on most currencies would be awfully thin during those times as well, do any of these firms trade the cash market as well?
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With the exception of Eur/USD, I've found all other pairs to be very thin outside of US RTH, with 5-10pip "mini-spikes" being quite common.

Also, I would be very careful with overnight stops in CME forex, because Globex stops are visible. E.g. in GBP I've had a stop gunned 60pip (!!!) away from price during illiquid time, right after Globex comes back online at 18:05.
 
Did they only trade FX futures on CME, or did they use a European futures exchange, particularly during European trading hours?

Quote from phenomena:

yeah, i was a currency trader at what is probably the biggest futures prop operation there is, no they don't trade the cash at all, yes, many do trade the european session.
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EurexUS starts trading FX futures this friday. Should be interesting to see how they go. At first, I did not even think about trading them over CME. But with the fees and the global market makers they have on board. This could be a good market for EurexUS. We will see. It is a BIG contract---2x the size of CME's.
 
Since Eurex is a European company and London has the highest volume of currency trading, perhaps they can get more liquidity than CME. The only thing on the CME with good liquidity is the Euro.

Quote from TGM:

EurexUS starts trading FX futures this friday. Should be interesting to see how they go. At first, I did not even think about trading them over CME. But with the fees and the global market makers they have on board. This could be a good market for EurexUS. We will see. It is a BIG contract---2x the size of CME's.
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Are their any retail spot forex prop shops? besides the one who was a sponsor here in ET?

Could you name a few?

Michael B.


Quote from LondonUSTrader:

Yes and yes. More cash than futures, but some trade futures or rather start off by trading futures then move to cash when they get good.
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