Small Exchange Kickoff

As a broker I am excited for this exchange and the products they are offering. We are ready for live trading as soon as we get the green light.
 
Cannon_Trading said:
As a broker I am excited for this exchange and the products they are offering. We are ready for live trading as soon as we get the green light.
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i cant understand their 75 stock product, so its a future that has 75 most active or what exactly? do you know by any chance?
 
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systematictrader said:
Bear with me maybe iam slow but the question is what are the stocks? The components? If iam thinking similarly its a future contract like an etf xle lets say, xle though u can see its holdings this some reason i cant find it
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check out their website at www.smallexchange.com
 
systematictrader said:
Bear with me maybe iam slow but the question is what are the stocks? The components? If iam thinking similarly its a future contract like an etf xle lets say, xle though u can see its holdings this some reason i cant find it
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It's really buried. You have to go to the Documents link at the bottom of the Small Exchange site, download the Small Exchange Rulebook, rename it with a .pdf at the end because they didn't so your computer won't recognize it, go to Chapter 30, which directs you to another site, https://indexit.dxfeed.com/, where you have to click on the Components and Weights pdf.

TLDR the info you're looking for is at https://indexit.dxfeed.com/docs/SMFE - Stocks 75 - Components.pdf However I put the whole string in to demonstrate how ridiculously hard they make it to find something as basic as their futures contract specifications. Not a great start to an otherwise promising venture, hopefully this doesn't represent the overall preparation they've put into this launch!
 
I don't believe the components are as relevant as having a decent correlation to the S&P 500 and conforming to the regulatory limits.
 
ajacobson said:
I don't believe the components are as relevant as having a decent correlation to the S&P 500 and conforming to the regulatory limits.
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The problem with correlation and a 75 company index is that it's not a static thing and it's easy to overfit. For example, UBER and LYFT are both in this index, both with more than a 1/75 weighting. They also include TSLA and GRUB in the index. Those 4 stocks certainly aren't what one would image if asked to guess what was in a market representative 75 company index! Heck, the largest weighted component, at 6.3% is Freeport-McMoRan (FCX). In case you had to look that up like I did, it's a mining company stock with a beta of 2.25. It's closely followed by The Mosaic Company (MOS) at 4.8% which again, if you had to look it up like me is a potash mining company with an average daily trading volume of only 6 million shares on a $12 stock. Keep in mind, the index claims it "finds the most active stocks from the five major sectors". A potash mining company with a daily volume of 6 million shares? Seriously?


This looks to me like someone told a math guy with little market experience to do a regression and find the 75 stocks that gave the best fit for a very specific thing over a very specific time period. You end up with the index you see here, which per the above is almost certainly overfit.
 
Sig said:
It's really buried. You have to go to the Documents link at the bottom of the Small Exchange site, download the Small Exchange Rulebook, rename it with a .pdf at the end because they didn't so your computer won't recognize it, go to Chapter 30, which directs you to another site, https://indexit.dxfeed.com/, where you have to click on the Components and Weights pdf.

TLDR the info you're looking for is at https://indexit.dxfeed.com/docs/SMFE - Stocks 75 - Components.pdf However I put the whole string in to demonstrate how ridiculously hard they make it to find something as basic as their futures contract specifications. Not a great start to an otherwise promising venture, hopefully this doesn't represent the overall preparation they've put into this launch!
More...


i see i see
 
Live today

Accessing the Smalls

Accessing the Smalls
Individuals interested in trading Small Exchange's futures products will need to establish a futures trading account with a firm offering these. Below is a list of firms offering our products.


Firm Name
Website
Daniels Trading

https://www.danielstrading.com

Dorman Trading

https://www.dormantrading.com

Edge Clear

https://edgeclear.com

FuturesOnline

https://futuresonline.com

Gain Capital

https://www.gaincapital.com

INTL FCStone

https://www.intlfcstone.com

Phillip Capital

https://www.phillipcapital.com

Sweet Futures

https://sweetfutures.com

tastyworks

https://tastyworks.com

TradePro Futures

https://tradeprofutures.com

Tradovate

https://www.tradovate.com

Wedbush Futures

https://www.wedbushfutures.com
 
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