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FrankTheTank

Any UK Futures or Instrument That Reflects the UK Economy?

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Sorry for the NOOB question, but, in the US we have the mini dow, NQ, ES, ER, etc. that are very correlated to the US economy and reflect the major market idexes.

 

Does the UK (United Kingdom) have any futures contracts or something similar? I am familiar with the Br. Pound contract through CME but I was hoping to find something else.

 

Thanks!

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Sorry for the NOOB question, but, in the US we have the mini dow, NQ, ES, ER, etc. that are very correlated to the US economy and reflect the major market idexes.

 

Does the UK (United Kingdom) have any futures contracts or something similar? I am familiar with the Br. Pound contract through CME but I was hoping to find something else.

 

Thanks!

 

Yes, you can trade the FTSE 100 futures for instance, but you do need the EuroNext exchange data, symbol is usually Z.

 

 

Hope this helps

 

Blu-Ray

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Sure, use the FTSE 100 for the UK.

 

Or CAC40 for France.

 

Or DAX for German equities. Bund, Bobl or Schatz for German treasuries.

 

Or DJ EuroStoxx 50 for the EU.

 

Your broker should have the appropriate symbols for you to use in charting and trading available at their website.

 

All of the above are very liquid as well.

 

-fs

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I have been trading the FTSE recently - its pretty thin at times guess it depends what you are used too. Trades like other thin(ish) index futures.

 

I noticed some sort of property based index here (UK) I meant to check it out anyone know anything about that? Maybe I dreamt it.

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Here's a look at the recent volume for some of the European futures (indices and treasuries) in the past 24 hours.

 

attachment.php?attachmentid=6349&stc=1&d=1210717071

 

This should give you a more accurate idea of liquidity.

 

-fs

europefutures.gif.d42f8cd5f5eb4b47bb349bd46eb11058.gif

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If you really want to trade the economic fundamentals of the u.k. this is a better instrument than the ftse 100

FTSE 250 INDEX FUTURE

 

Mnemo Y MEP Euronext.liffe London

Unit £

FTSE 250 Index Futures

Unit of trading Contract valued at £10 per index point (eg value £65,000 at 6500.0)

Delivery months March, June, September, December (nearest two available for trading)

Quotation Index points (e.g. 6500.0)

Minimum price movement (tick size and value) 0.5 (£5.00)

Trading hours 08:00 - 17:30

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The FTSE 250 is THINLY traded.

 

Check the volume vs the FTSE 100, and proceed with caution.

 

Like only a handful (160 contracts) traded today on the FTSE250 vs over 102,000 for the main FTSE100.

 

-fs

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I think for his purposes the contract is liquid enough. At first glance it seems like this is a fundamental longer term play rather than a day trade scalp. If he's trading in 5 lots or less, I think any electronic contract on a major futures exchange will be o.k. There is almost always someone ready to take the other side of your trade. Trading on a major exchange, the price you see is pretty much what you get. Liquidity problems tend happen more with stocks especially low priced ones. Just my opinion by the way has any one ever traded the MDAX future on Eurex or the AEX future on Euronext. I have always had an interest in these but never got around to looking into them seriously. I really like some of the characteristics of the AEX and the MDAX can trend really well.

Edited by idaxtrader
spelling

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Thanks for everyones help.

 

1. I am looking to scalp economic reports out of the UK. Based on what is said here, it seems liquidity may be an issue and I would probably get into a trade at the top or bottom of any spikes which would not be good :)

 

2. Can US citizens trade these indices? I cant find them on Tradestation.

 

Thanks!

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IDax,

 

I'd strongly consider checking the spread on the FTSE250 contract before trading it, whether day trade, swing trade, or position trade.

 

Just because someone is on the other side, doesn't mean you'll get a favorable price for your entry or exit.

 

Frank,

 

Just because you can't find it on Tradestation, doesn't mean US citizens can't trade them.

 

Try another broker, like Open E Cry or Interactive Brokers that should have them.

 

-fs

 

P.S. I wouldn't even contemplate "scalping" the FTSE250 on UK econ reports. Try forex or currency futures instead.

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Thanks for the table Forex. Technical analysis of stocks and commodities has a useful table of futures contracts (I don't subscribe any more) that provides this sort info along with margin and average daily movement.

 

The market (FTSE) has been open 45 minutes and is now 2 bid 2 asked with a 3 tick spread. Just tightened up to 1 tick 6 v 1. I

 

From the original post if you want to trade based on UK fundamentals I guess second to second gyrations will not be of much concern :).

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Yes indeed, never looked at the 250.

 

Been wanting to go short all morning despite the direction being clearly up. <slapshead> Looks like we have finally switched from ^ to >.

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