Futures Tick Sizes

Hi,

'Long time no post' (from me).

I have a question though:

Does anybody have a sort of 'definitive list' as to what the REAL tick sizes of the individual futures contracts are SUPPOSED to be as per the relevant exchanges???

Only recently did I have cause to look up tick values for certain stock index futures and I've noticed that quite a few times the tick sizes quoted by the brokers in their contract specifications differ from the tick sizes quoted by the exchange on which the contract is ACTUALLY traded. As an example: according to the CME's website the S&P 500 Futures Contract has a tick size of 0.25 but I've found many (brokers') websites where the tick size is quoted as 0.01 and not as 0.25.

As another example: I've just found on one broker's website where the spread is quoted in ticks and they say that their spread on the S&P 500 Futures Contract is 75 ticks. ACTUALLY: that's only 3 S&P 500 Futures Contract ticks (0.25 * 3) and NOT 75!!!

I found differing tick sizes for just about every futures contract out there (depending on which website you're looking at) e.g. the DAX where I've seen the tick size quoted as anywhere between 0.1 and 1.0 (0.5 being what is quoted in the contract specification on EUREX).

The only tick size that appears to be consistent between broker and exchange are US stocks where the tick size is always 0.01!!!

Any ideas or additional information or input on this subject???

Regards,

Dale.

This might help

Hi steve10%,

Thanks for the document (great document by the way).

If I may just be sure of one or two things:

How up to date is that document and what is the source of that document (if you don't wish to post those details here then PM me)???

It's pretty much what I was looking for. I'm looking for the minimum allowable fluctuation in price or ticks for many of those contracts detailed in that document. The only one that has me a bit confused (now) (as stated in that document) is the Dow i.e. I've never seen the Dow quoted with decimal places (neither the Cash Index nor the Futures Contracts) nor have I seen the minimum allowable fluctuation in price be less than 1 Dow point (and this is an argument that I'm currently having with someone right now).

Sorry: not trying to be difficult here and I do appreciate the document i.e. I just need to be 100% sure here is all.

Regards,

Dale.

Hi Dale

The document comes from the CRB website,near the bottom.
It seems up to date as there is a start date for one of the futures as Oct 10.
I cant really help you with the question on the Dow tick size but there are contact details on the site,you could ask them.
Pretend you are after data feed perhaps

http://www.crbtrader.com/support.asp

Steve

Hey: thanks again Steve. I really appreciate it.

It's a very comprehensive document and I've been able to correlate most of the futures information that I need with the relevant exchanges (all except the Dow as I noted but I suppose it's not that great a problem i.e. I KNOW the Dow moves in 1 point increments and that's also the minimum price change so I should say 'that's good enough for me')!!! LOL!!!

Once again: thank you for your time and effort.

I take it then that you trade futures, commodities, stocks, etc. as well??? (It's the only way to go in my humble but nevertheless experienced opinion)!!! LOL!!!

Regards,

Dale.

If you are talking about the DOW Industrials on page 13 of the document, then yes, you are right. The Mini-Dow minimum tick is 1 point and not 0.5 points as mentioned in the document. The cash index minimum tick is 0.01.

You can also double check it on the exchange website as well.


Best Regards,

Nader

The YM moves in 1 points, and roughly 10 points on the Dow is equal to 1 point on the ES. So 1 tick on the ES is about 2.5 points on the Dow.


If you have a real broker, then all quotes will of course be the exchange quotes. But if you're trading from a forex broker, then you're paying their rates. I would never trade futures with any one other than a major broker, like IB. The big advantage to the ES is that there's virtually no spread. There's so much liquidity, you can get filled on the bid price most of the time.