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Tick size and value

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AFM Exams › Tick size and value

  • This topic has 1 reply, 2 voices, and was last updated 8 years ago by John Moffat.
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  • December 8, 2016 at 9:56 am #362189
    ksay2mbd
    Member
    • Topics: 6
    • Replies: 4
    • ☆

    In the lecture notes we have been told that for a 62500$ contract and tick size of 0.0001, the tick value is 62500 X 0.0001= 6.25$

    However, in the past exam paper sep/dec 2015, the question states “three month euro futures 1 Million contract, tick size 0.01% and tick value 25 euro.”

    I cant seem to understand where does 25 euro comes from?

    Thanks 🙂

    December 8, 2016 at 3:23 pm #362263
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54752
    • ☆☆☆☆☆

    It seems you have not watched my free lectures.

    The profit on interest rate futures is calculate by dividing by 4 because the are three month futures and there are 4 three month periods in a year.

    1M x 0.01% x 1/4 = 25

    However, you have never ever needed to use ticks in the exam – I never do because there is no point. It is just as fast and more logical to do it without ticks.

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