What are you ER2 fellows doing...

What are you doing about ER2?

  • ER2 forever! I'm going ICEskating

    Votes: 28 33.7%

  • ER2 RIP. Other minis here I come!

    Votes: 47 56.6%

  • It's over. I'm going into real estate...

    Votes: 8 9.6%
  • Total voters
    83
Quote from raymack1999:

In response to Shraga18, I am the head of sales for ICE US products. Our goal is to have a smooth transition to the ICE for all Russell traders. we are available to help any way we can.

Ray McKenzie
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Can you talk about the trading hours for the mini Rut 2000 on ICE? It is my understanding that the overnight hours are being curtailed. Since it is an electronic traded product, why not align the trading hours uniformly with the rest of the index futures products, for continuity, and full accessibility.

Anything less will discourage overall volume, as the current overnight 'blackout period' seems needless and a hindrance.

I would think the main concern at ICE is to promote every reason to allow for the greatest access and volume.
 
<i>"hopefully another contract similar to ER2 will come along via globex. love that contract, but ICE will kill its volume."</i>

Not so sure about that, Jayford. Lately the ER has been steady to increasing daily volume while NQ flatlines or ebbs lower. You can watch large blocks (100-lot or more) clearing in groups thru the day in ER2 now. I doubt big players like that are hanging around to the last minute with plans to leave.

My guess fwiw is the transition days will be a bit bumpy, it'll smooth out and continue on pretty much as usual. We might actually see the ER trade with less program arbs = smoother swings thru the same range. Could actually get more trendy. Who knows?

S&P 600 doesn't even trade and S&P 400 is months to years away from volume that matches ER. No alternative on the visible horizon, which means once the grumbling is done, no material changes are likely.

Any of us could trade the ES, NQ, CL, ZB if desired. It's not like our careers all hinge on ER2 survival. That said, it'll probably all be fine soon after the switch.
 
ICE is not an exchange, ice is a electronic marketplace. They are copy cats at best. Notice i did not say they are a redneck wannabe pretend to be exchange.

Ask yourself this question. What have they done down in HOTlanta besides copy cat or outbid someonme for the right to use someone elses product? They are NOTHING.

Trade there at your own risk. Personally i say screw em.

Do you get a chill when their system goes down? they always crash <a href="http://www.sweetim.com/s.asp?im=gen&ref=11" target="_blank"><img src="http://content.sweetim.com/sim/cpie/emoticons/00020079.gif" border=0 ></a>
 
The Russell Index futures are available on IB and have been for some time. Please contact your IB customer support person if you don't see the product. Calendar options are available on the screen as well for ICE Russell options on Futures and Serials will be available soon.

Also the ICE Russell products have been trading for at least a year and the final day to trade them at CME is Sept. 18th. From Sept. 19th on the only place to trade russell futures will be on ICE. We are holding a Webinar online at ICE on August 19th if you would like to attend here is a link to register:

https://theice.webex.com/mw0302l/mywebex/default.do?siteurl=theice

We anticipate a seamless transition to ICE and all major firms we have talked to plan to migrate to ICE soon.

thank you,

Ray
 
Ray, there is a difference between available on IB, and available for free.

Due to the low volumes, and past problems with stability of ICE, you won't find too many IB customers that want to pay for this data unless they are already trading via ICE. IB charges nothing for globex/CBOT.
 
I don't know much about ICE and their reliability but it doesn't sound too reassuring. If I place an order for russell emini on ICE where is the order sent (geographically). Where's the order matching server? What kind of redundancy is built into the network and has it been built out since aquiring the er2?
 
Our platform is one of the best in the business and major hedge funds, FCMS, and large institutions trade millions of contracts a day on our platform. I am attaching a link to details about our platform, its locations and current build out.

https://www.theice.com/data_center.jhtml

Please take a look and let me know if you have more questions.
 
Ray,
You didn't respond to this post?!
Also, do I understand this correctly, ER2 feed was/is free on Globex and now we through our brokers have to pay for the feed? How about the other trade fees? how do they compare to Globex fees?
If i=t costs even a cent more than what it used to cost over at Globex/CME I for one will also replace it with NQ. It won't make anymore sense for the day traders and maybe for those trading baskets of low cap stocks this will be a hedge tool.

Quote from Jayford:

Ray, there is a difference between available on IB, and available for free.

Due to the low volumes, and past problems with stability of ICE, you won't find too many IB customers that want to pay for this data unless they are already trading via ICE. IB charges nothing for globex/CBOT.
More...
 
not sure which post you are referring to, but I will try and answer your question again. We offer a free market data package for Russell products on ICE to every vendor. It is up to your vendor to pass that along to you. So again, we offer the market data for free.

Our non-member rates to trade Russell products on ICE are cheaper than they are on the CME. So again, its a better deal to trade on ICE.

What other questions can I answer for you?
 
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