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>From the CME:
June 13, 2000 — The tick size for Nasdaq 100 Index futures traded on the
Chicago Mercantile Exchange (CME) will be increased to 0.50 index points from
its current level of 0.05 index points beginning with the after-hours
GLOBEX®2 electronic trading session on Sunday, June 18, the CME announced.
The change will make the Nasdaq 100 tick size the same as that of the E-mini
Nasdaq 100.
The increased tick size, intended to more closely reflect the prevailing
volatility and bid/offer spreads, represents an underlying price movement of
$50 instead of the current $5. The calendar spread will continue to trade in
the current 0.05 index points ($5) in order to facilitate precise rollover
transactions from an expiring contract into a deferred contract.
Nasdaq 100 Index options also will remain unchanged at 0.05 or $5 per tick.
Nasdaq 100 futures trade on the CME from 8:30 a.m. to 3:15 p.m. (Chicago
time) and overnight on GLOBEX2 from 3:45 p.m. (5:30 p.m. on Sundays) to 8:15
a.m. the following day. E-mini Nasdaq 100 futures trade exclusively on
GLOBEX2 from 3:45 p.m. to 3:15 p.m.
Nasdaq 100 and other trade names, service marks and trademarks that are not
proprietary to the Chicago Mercantile Exchange are the property of their
respective owners, and are used herein under license.
Regards,
John J. Lothian
Disclosure: Futures trading involves financial risk, lots of it!
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