Commodity tick
From Wikipedia, the free encyclopedia
Futures exchanges establish a minimum amount that the price of a commodity can fluctuate upward or downward. This minimum fluctuation (trade increment) is known as a "tick" or commodity tick. Each futures contract has a different size, quantity, valuation etc., so each "tick size" that can be applied to any one futures contract, is dependent on the previous variables. Tick size is important as it determines the possible prices available. For example, each "tick" for the grain market (soybeans, corn and wheat) is 0.25 cents per bushel, on one 5,000-bushel futures contract.
| Futures Product | Contract Size | Tick Size | Tick Value |
|---|---|---|---|
| E-Mini S&P 500 | $50 x Index | 0.25 | $12.50 |
| E-Mini Nasdaq CME | $20 x Index | 0.50 | $10.00 |
| Australian Dollar | A$100,000 | 0.0001 | $10.00 |
| British Pound | £62,500 | 0.0001 | $6.25 |
| Canadian Dollar (CME) | C$100,000 | 0.0001 | $10.00 |
| Euro FX (CME) | €125,000 | 0.0001 | $12.50 |
| Japanese Yen | ¥12,500,000 | 0.000001 | $12.50 |
| Mexican Peso | MP 500,000 | 0.000025 | $12.50 |
| New Zealand Dollar | NZ$100,000 | 0.0001 | $10.00 |
| Swiss Franc | SF 125,000 | 0.0001 | $12.50 |
| 30 Day Fed Funds | $5,000,000 (annualized) | 0.00005 | $20.835 |
| 2 Year Treasury Note | $200,000 | 1/4 of 1/32 | $15.625 |
| 5 Year Treasury Note | $100,000 | 1/2 of 1/32 | $15.625 |
| 10 Year Treasury Note | $100,000 | 1/2 of 1/32 | $15.625 |
| 30 Year Treasury Bond | $100,000 | 1/2 of 1/32 | $15.625 |
| Gold (CBOT) | 100 oz | $0.10/oz | $10.00 |
| Silver (CBOT) | 5,000 oz | $0.001/oz | $5.00 |
| Silver New York E-Mini | 1000 oz | $0.001/oz | $1.00 |
| miNY crude | 500 Barrels | $0.025 | $12.50 |
| miNY Natural Gas | 2,500 million BTU | $0.005 | $12.50 |
