Tuesday, May 26, 2009

The Debts of the Spenders: ICE Enables TAS Trading for USDX Futures

Since so much attention has been focused on the dollar, I believe it's time to throw a spotlight on some new trading changes.

Starting Monday, June 22, 2009, the ICE Exchange will support Trade At Settlement (TAS) trading for their US Dollar Index futures contract on the ICE electronic trading platform.

TAS capability allows a trader to enter an order to buy or sell the futures contract during the course of the day at a price equal to the settlement price or at a price that is up to two minimum price fluctuations above or below the settlement price (in the case of USDX futures, the minimum price fluctuation is .005 index points, or $5).

If you're confused, just remember that TAS trading has traditionally been associated w/the softs - sugar #11, coffee, cocao, and of course, frozen orange juice.*

*In the movie, Trading Places, the Duke brothers lost their family fortune in frozen OJ spread trading to the wily Eddie Murphy and Dan Akyroyd. A modern revision of the film would have dollar contracts replacing Tropicana.

For more information:

blog comments powered by Disqus

Blog Archive