TRADING FUTURES
CyberTrader allows approved clients to trade E-Mini NASDAQ 100 and E-Mini S&P 500 futures.
Orders are routed through GLOBEX, the Chicago Mercantile Exchange's (CME) international, 24-hour electronic trading system, or, after 4:30 p.m., through BNP Paribas Brokerage Services, Inc.
Futures trading is available M-F 7:00 a.m.-4:15 p.m., 4:30-5:30 p.m., 6:00-7:30 p.m. ET.
Futures Accounts
• Futures trading can only be done in an account established specifically for futures trading.
Contact CyberTrader to open a futures trading account.
• Once a futures trading account is opened for you, you will have two separate account IDs: one for futures trading, and one for trading stocks and options.
• You may view stock and option data from the futures account, but you cannot trade them, and vice versa. Switch between accounts using the Account drop-down menu at the top of the CyberTrader Pro window.
• Futures trades are cleared through BNP Paribas Brokerage Services, Inc.
Futures Box
When you enter a futures symbol into the Stock Box, the display will adjust to support futures trading:
• Futures Level II displays Bid and Ask prices and Size (actual quantities) up to five levels.
• The Sum column shows the total number of contracts available to that depth level.
• The Avg column shows the average price to that depth level.
• Sum and Avg columns can be displayed or hidden by checking Show Futures Sum and/or Show Futures Average in the Settings > General menu of the Stock Box.
• Reverse: The Reverse order button allows you to close a futures position and establish a new position with the same number of contracts in the opposite direction all by clicking a single button. When Reversing a position, the number of contracts in the quantity field is ignored.
NOTE If there is not an existing position on the futures symbol that is loaded, the Reverse button will be grayed out.
To Place a Futures Trade
1. Enter the symbol and press Enter.
2. Click on the desired Bid or Ask row to load that execution price into the order entry fields.
3. Enter the quantity of contracts for your order.
4. CME will automatically be selected as the order venue.
5. Click Buy, Sell, or Reverse to send the order, or you can use the following hot keys:
• CME Buy - Shift + '
• CME Sell - Shift + A
• CME Market Buy - Shift + ]
• CME Market Sell - Shift + Q
• CME Reverse - Shift + R
Futures’ trading carries a high level of risk and is not suitable for all investors. Certain requirements must be met to trade futures through CyberTrader. All accounts are accepted solely at the discretion of CyberTrader, Inc. Please read the BNP Risk Disclosure Statement for Futures and Options before considering any futures transactions. Copies of this document are available by calling (888) 762-9237 and selecting prompt “1” and then prompt “1” followed by “2”, going to
http://www.cybertrader.com/forms/Futures_Disclosure.pdf for an electronic copy, or by writing CyberTrader, Inc., PO Box 162770, Austin, TX 78716-2770. Member NFA.
FUTURES SYMBOLS
The format for E-Mini futures symbols is as follows:
• /+ SYMBOL + EXPIRATION MONTH CODE + YEAR'S LAST DIGIT The E-Mini index symbols available with CyberTrader are:
• NQ = NASDAQ 100 Index E-Mini
• ES = S&P 500 Index E-Mini
Nasdaq 100 and S&P 500 E-Mini indexes have the following quarterly expiration months (Expiration Month Code is in parenthesis):
• March (H)
• June (M)
• September (U)
• December (Z) Examples:
• /NQU3 = 2003 September E-Mini Futures on NASDAQ 100 Index
• /ESM3 = 2003 June E-Mini Futures on S&P 500 Index
Futures’ trading carries a high level of risk and is not suitable for all investors. Certain requirements must be met to trade futures through CyberTrader. All accounts are accepted solely at the discretion of CyberTrader, Inc. Please read the BNP Risk Disclosure Statement for Futures and Options before considering any futures transactions. Copies of this document are available by calling (888) 762-9237 and selecting prompt “1” and then prompt “1” followed by “2”, going to
http://www.cybertrader.com/forms/Futures_Disclosure.pdf for an electronic copy, or by writing CyberTrader, Inc., PO Box 162770, Austin, TX 78716-2770. Member NFA.
FUTURES ORDER ROUTING Order Routing
• Approved clients can trade E-Mini NASDAQ 100 and E-Mini S&P 500 futures.
• During the regular market sessions, futures E-Mini orders are routed directly to the Chicago Mercantile Exchange (CME) and will attempt to fill at the best price available.
• After 4:30 p.m. ET, futures orders are routed through BNP Paribas Brokerage Services, Inc., CyberTrader's clearing firm for Futures account.
• Hours: M-F 7:00 a.m.-4:15 p.m., 4:30-5:30 p.m., 6:00-7:30 p.m. ET.
Order Types
• Market: This market order is actually a market limit order. For example, if there are 50 contracts at the inside bid of 980.00 and you send an order for 100, you would take the 50 at 980.00 and the balance of the order is a limit order at 980.00.
• Limit: Order that can be executed only at or better than the limit price you specify.
• Limit Stop: Order to buy becomes a limit order when the stock trades at or above the stop price; order to sell becomes a limit order when the stock trades at or below the stop price.
Time In Force
• Day: Can be entered at any time during CyberTrader’s Futures trading hours and expire at the end of the trading day (4:15 p.m. ET)
• IOC (Immediate or Cancel): Order quantity is filled as much as is possible immediately upon routing the order; the remainder is canceled.
Futures’ trading carries a high level of risk and is not suitable for all investors. Certain requirements must be met to trade futures through CyberTrader. All accounts are accepted solely at the discretion of CyberTrader, Inc. Please read the BNP Risk Disclosure Statement for Futures and Options before considering any futures transactions. Copies of this document are available by calling (888) 762-9237 and selecting prompt “1” and then prompt “1” followed by “2”, going to
http://www.cybertrader.com/forms/Futures_Disclosure.pdf for an electronic copy, or by writing CyberTrader, Inc., PO Box 162770, Austin, TX 78716-2770. Member NFA.