For those trading S&P 500 futures, E-Mini futures, or any Stock Index contract, it is extremely important to remember that Thursday, December 11, is rollover day. It is recommended that all new positions be placed in the MARCH 2004 contract as of Thursday’s trade date. GLOBEX will not roll over until Thursday morning at 8:30am, despite the fact that the trade date changes Wednesday afternoon.
Further, please be aware that the executing brokers in the DECEMBER contract of the S&P 500 and NASDAQ 100 will not be "held" on ANY order, and that they will not take Cancel and Replace orders at all beginning DECEMBER 11. Also, please be aware of liquidity issues in the 2nd step E-Mini S&P and E-Mini NASDAQ. Expect sharply decreased liquidity on the DECEMBER contract beginning Thursday morning. And carefully consider whether you wish to place Market or Stop orders after that time.
Trader’s with electronic trading software should make sure that defaults and macros reflect the proper contract as of Thursday morning.
NOTE: E-MINI rollover actually occurs at 8:30 a.m., but orders placed Wednesday afternoon and evening after 3:30 p.m. (before rollover) will work through Thursday’s close (after rollover). Please consider carefully how you place Stop or Market orders in these contracts.
Further, please be aware that the executing brokers in the DECEMBER contract of the S&P 500 and NASDAQ 100 will not be "held" on ANY order, and that they will not take Cancel and Replace orders at all beginning DECEMBER 11. Also, please be aware of liquidity issues in the 2nd step E-Mini S&P and E-Mini NASDAQ. Expect sharply decreased liquidity on the DECEMBER contract beginning Thursday morning. And carefully consider whether you wish to place Market or Stop orders after that time.
Trader’s with electronic trading software should make sure that defaults and macros reflect the proper contract as of Thursday morning.
NOTE: E-MINI rollover actually occurs at 8:30 a.m., but orders placed Wednesday afternoon and evening after 3:30 p.m. (before rollover) will work through Thursday’s close (after rollover). Please consider carefully how you place Stop or Market orders in these contracts.
