FX Products: Half-Ticks

Tighter Spreads, Same Trusted Markets

In 2015, we successfully reduced our tick sizes in our JPY and MXN contracts to provide more granular pricing and actionable liquidity – reducing your execution costs.

In January 2016, we did the same for our standard size EUR/USD contract, and the results were positive and in July 2016, we reduced the tick sizes for our standard CAD/USD contract as well – based on customer demand.

Our reduced minimum price increments allow our market participants to maximize capital efficiencies and streamline operational processes. Benefit from:

  • Lower execution costs
  • Competitive margining
  • Average pricing on executions available via our average pricing system for easy allocation to accounts
  • Full trade netting when executing within the same FX contract.

Explore additional FX opportunities at CME outside of CAD, EUR, JPY and MXN, with the most extensive and liquid FX futures and options marketplace with 71 futures and 30 options contracts listed, all ready to trade, 23 hours a day.

CAD/USD Highlights

Changed from $10.00 per tick to $5.00 per tick on July 11, 2016

  • Cost reduction of 31% for orders executed at the Top-of-Book. Save $68.86 on average execution size of 19 contracts (~$1.5m notional)
  • 100-lot execution (~$7.7m notional) is now 26% cheaper - saves $650. Average bid/ask spread of 1.895 ticks post cut
  • 200-lot execution (~$15.4m notional) is now 23% cheaper - saves $1,620. Average bid/ask spread of 2.693 ticks post cut

*These statistics are calculated based on data through July 22, 2016 for RTH

Product Last Change Chart Globex Vol
0.7993 +0.0004 Show Price Chart 124

EUR/USD Highlights

Changed from $12.50 per tick to $6.25 per tick on January 11, 2016

  • Cost reduction of 36% for orders executed at the Top-of-Book. Save $89.45 on average execution size of 18 contracts (~$2.5m notional)
  • 100-lot execution (~$13.7m notional) is now 19% cheaper - saves $512. Average bid/ask spread of 1.799 ticks post cut
  • 200-lot execution (~$27.4m notional) is now 11% cheaper - saves $844. Average bid/ask spread of 2.609 ticks post cut

 

*These statistics are calculated based on data through March 1, 2016 for RTH

Product Last Change Chart Globex Vol
1.1833 +0.0002 Show Price Chart 467

JPY/USD Highlights

Changed from $12.50 per tick to $6.25 per tick on June 22, 2015

  • A 25-lot execution (~$2.6 million notional) is now 39% cheaper - Average bid/ask spread of 0.65 ticks ($8.125 per contract) versus 1.07 ticks ($13.375 per contract) pre-tick size cut
  • A 100-lot execution (~$10.4 million notional) is now 22% cheaper - Average bid/ask spread of 1.298 ticks ($16.225 per contract) versus 1.656 ticks ($20.700 per contract) pre-tick size cut
  • A 200-lot execution (~$20.8 million notional) is now 26% cheaper - Average bid/ask spread of 1.88 ticks ($23.500 per contract) versus 2.53 ticks ($31.625 per contract) pre-tick size cut

 

*These statistics are calculated based on data through December 31, 2015 for RTH

Product Last Change Chart Globex Vol
0.0089405 +0.000004 Show Price Chart 261

MXN/USD Highlights

Changed from $12.50 per tick to $5.00 per tick on July 14, 2014

  • A 25-lot execution (~$747,000 notional) is now 44% cheaper - Average bid/ask spread of 1.64 ticks ($8.20 per contract) versus 2.94 ticks ($14.70 per contract) pre-tick size cut
  • A 200-lot execution (~$6 million notional) is now 42% cheaper - Average bid/ask spread of 3.85 ticks ($19.25 per contract) versus 6.61 ticks ($33.05 per contract) pre-tick size cut

 

*These statistics are calculated based on data through December 31, 2015 for RTH

Product Last Change Chart Globex Vol
0.051990 +0.000110 Show Price Chart 13

Contact Us

Chicago
+1 312 930 3148

Singapore
+65 6593 5561

London
+44 20 3379 3721

More in FX