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Not so, CME NK225 market is thin compared to Simex. Simex' volume is
more like 10 times the CME's.
The NK225 volume in Simex is between 16,000 and 30,000 contract per day.
I stopped charting the CME NK months ago - its only use is some feel for
the Asian openings, but it is often way off.
The real NK225 volume is out of Osaka, usually about double Simex. Simex
offers 5 points per tick and Y2500 (approx US17) per tick. Osaka is 10
points per tick - I'm not sure of the tick value but think it is Y5000.
Simex is pit traded, then has an electronic evening session. Osaka is
electronic only, and is open in roughly the same time frame as Simex.
Simex and CME have a mutual offset arrangement which allows positions to
be closed on each others market.
Simex does not trade the Bund yet, but has plans to - not sure what date
etc.
Hope this helps.
Peter Ryan
(Simex local)
-----Original Message-----
From: Mark Brown [SMTP:markbrown@xxxxxxxxxxxxx]
Sent: Thursday, August 27, 1998 2:31 AM
To: omega-list@xxxxxxxxxx
Subject: Re: Serious Question
>Stewart and Mark:
>
>First, the leader is the Merc. They lead the Simex by a factor of almost
10
to 1 on many days.
thanks
>I also would not underestimate the effect of certain flows like
oil...Again, these flows are more readable when they are re-calculated on a
currency basis. For example, oil rates are not particularly cheap to those
countries that have seen their currencies plummet on the Asian crisis.
Maybe
commodities should be
>calculated in a basket of currencies and the commodity group split to
reflect industrial commodities[oil, metals, building materials] and
foodstuffs[grains
>and others]?
>Tim Morge
Well then we are getting somewhere, we could maybe get some of this data at
least in the US as part of a sector index. And forget the individual
markets. I will see what I can find in the way of similar foreign indexes,
this may be the way to go. This would allow many more items to be thrown
into a basket. I'm not sure the more the merrier though.
MB
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