Emini News - Russell 2000 Moving to CME
November 29, 2016 at 11:23 PM (QQQ)(DIA)(SPY)(CME)(LSE)
Russell Index Returning to the CME
The Russell Emini Small Cap Index Is Coming Back Home
Russell Traders were riled earlier this year when the ICE Exchange imposed a $100+ monthly fee for delivery of data (per trader) on the Small Cap Index home to 2,000 Small Cap companies. The CME has an agreement with the London Stock Exchange (LSE) for the next 12 years beginning 3rd quarter of 2017 to list futures and options contracts on both the Russell and FTSE Indexes.
Whether the $100 monthly data fee will still be charged for the Russell has yet to be announced. Currently the CME charges a flat $18 per month (per trader) fee, for access to all data on CME Traded Products. The fee was never really that big of an issue for experienced Traders. If you trade 1 Contract a month on the Russell E-mini and net 1 point (10 ticks), you recoup your data cost.
LSE Bought Russell Investments Last Year
The reported purchase price was $2.7B. The London Stock Exchange now has around $9.2 Trillion in assets benchmarked against the performance of its indexesincluding the UK FTSE 100.
Emini Traders Will Now Have Access to Emerging Markets
Anyone who has ever arrenpted to trade the Asian session on Globex, knows it's a a tough go. Most sessions are lackluster in both volume and volatility. This new deal between the LSE and CME not only gets the Russell out of the prasp of ICE, but also brings to CME Traders contracts based on FTSE Developed Europe and FTSE China 50.
Emini Day Traders are hopefull this will put some pep in the step of the sleepy Asian session. Many Traders just beginning to build their new trading business are often forced to trade the sleepy Asian session due to their day job preventing them from trading during Regular Trading Hours (RTH) and they also miss the London open which presents stellar opportunities filled with both volume and volatility, because unfortunately... even Traders need sleep.
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