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    QQQ SPRD QCQ1NU3#QCQ1NZ3 NQLX USD ??????????? - 500 Beiträge pro Seite

    eröffnet am 09.05.03 21:24:15 von
    neuester Beitrag 13.05.03 00:11:09 von
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     Ja Nein
      Avatar
      schrieb am 09.05.03 21:24:15
      Beitrag Nr. 1 ()
      Underlying: QQQ
      Security Type: SPRD
      Contract: QCQ1NU3#QCQ1NZ3
      Exchange: NQLX
      Currency: USD

      Hilfe,

      was ist das genau ?

      Link zum nachlesen reicht mir auch. ;)
      Avatar
      schrieb am 09.05.03 21:36:02
      Beitrag Nr. 2 ()
      Qartalszahlen der Achterbahn AG:confused:


      dievierte:D
      Avatar
      schrieb am 09.05.03 21:42:25
      Beitrag Nr. 3 ()
      Avatar
      schrieb am 09.05.03 22:00:47
      Beitrag Nr. 4 ()
      Danke neos !

      Der Text bezieht sich aber nur auf den Tracking Stock QQQ.

      Das muss wiederum ein Produkt darauf sein.
      Underlying: QQQ
      Security Type: SPRD
      Contract: QCQ1NU3#QCQ1NZ3
      Exchange: NQLX
      Currency: USD

      Ein Stockfuture mit Spread ?
      Mich interessieren Details wie..... Kontraktspezifikationen und wo das gehandelt wird ?



      Börslich gehandelte Fondsprodukte


      Börslich gehandelte Fondsprodukte
      Bei börslich gehandelten Fondsprodukten (Exchange Traded Funds, ETF) handelt es sich um
      indexgebundene Wertpapierkörbe, die an einer Börse zu einem Kurs gehandelt werden, der dem
      zugrundeliegenden Wert der Titel in dem entsprechenden Portfolio weitgehend entspricht. ETFs
      ähneln Publikumsfonds insofern, als dass ein breit diversifiziertes Wertpapierportfolio durch ein
      einziges Investment erreicht werden kann. ETFs können während des Handelstages wie die meisten
      individuellen Aktien zu sich verändernden Preisen gekauft und verkauft werden. Auf dem US-Markt
      werden gegenwärtig etwa 50 dieser Produkte gehandelt, von denen die meisten am American Stock
      Exchange, LLC, notiert sind, darunter auch der Nasdaq-100 Index Tracking Stock SM (QQQ),
      Standard & Poor’s Depository Receipts (SPDRS) und Diamonds (DIA), der sich am Dow Jones
      Industrial Average orientiert.



      Nasdaq-100 Index Tracking Stock
      Der Nasdaq-100 Index Tracking Stock (Amex: QQQ) ermöglicht Investoren durch den Kauf und
      Verkauf von Aktien im Zuge einer einzigen Transaktion an der kollektiven Wertentwicklung des
      Nasdaq-100 Index® teilzuhaben: Mit einem einzigen Investment-Portfolio kann der Anleger Eigentum
      an allen 100 Aktienwerten im Nasdaq-100 Index erwerben. Der Kauf von Nasdaq-100-Werten stellt
      eine Investition in den Nasdaq-100 Trust dar, einen offenen Investmentfonds, der Aktien der
      Unternehmen im Nasdaq-100 Index hält. Zweck des Trusts ist es, die Preisentwicklung genau zu
      verfolgen und durch Orientierung an der Wertentwicklung des Index seine Leistung zu bestimmen.
      Anfänglich zu ca. einem 1/40 des Wertes des Nasdaq-100 Index bewertet, können diese Aktien
      während des ganzen Handelstages zu Intra-Day-Preisen gehandelt werden. Darin unterscheidet sich
      dieses Angebot von indexorientierten Publikumsfonds, die in der Regel nur zu den auf dem
      Inventarwert basierenden Börsenschlusspreisen gekauft oder zurückgegeben werden können. Die
      Kursfeststellung der Nasdaq-100-Aktien findet innerhalb der Amex-Handelszeiten fortlaufend statt,
      sofern der laufende Handel nicht angehalten wird.




      Nasdaq-100 Index
      Im Nasdaq-100 Index® sind 100 der größten Unternehmen außerhalb der Finanzbranche aus den
      USA und dem Ausland vertreten, die im National-Market-Segment des Nasdaq Stock Market® notiert
      werden. Damit umfasst der Nasdaq-100 Index® die größten Nasdaq-Unternehmen in allen wichtigen
      Branchen, wie beispielsweise Computer-Hardware und Software, Telekommunikation, Einzel- und
      Großhandel und Biotechnologie.
      Beim Nasdaq-100 Index handelt es sich um einen modifizierten Kapitalisierungs-gewichteten Index,
      der dazu konzipiert wurde, die Beherrschung des Index durch einige wenige Aktien mit hoher
      Marktkapitalisierung zu begrenzen und dabei gleichzeitig das Kapitalisierungs-Ranking der
      Unternehmen beizubehalten. Aufnahmekriterium für den Index ist ein durchschnittliches tägliches
      Mindesthandelsvolumen von 100.000 Aktien. Ausländische Wertpapiere müssen weltweit einen
      Marktwert von mindestens 10 Mrd. US-Dollar, einen US-Marktwert von mindestens 4 Mrd. US-Dollar

      und ein durchschnittliches Mindesthandelsvolumen von 200.000 Aktien pro Tag aufweisen. Zusätzlich
      müssen ausländische Wertpapiere für den Handel mit börsennotierten Optionen geeignet sein.
      Nahezu alle der gegenwärtig im Index vertretenen Unternehmen verfügen über einen Marktwert von
      über einer Milliarde US-Dollar; der durchschnittliche Marktwert beträgt 6 Mrd. US-Dollar. Indexwerte
      werden jährlich angepasst, um den Veränderungen in der Marktkapitalisierung Rechnung zu tragen.
      Am 31. Januar 1985 nahm der Nasdaq-100 Index den Handel bei einem Bezugswert von 250,00 auf.
      Am 1. Januar 1994 wurde der Nasdaq-100-Bezugswert durch Division mit dem Faktor 2 neu
      festgesetzt.
      Avatar
      schrieb am 09.05.03 22:06:31
      Beitrag Nr. 5 ()
      QQQ = Nasdaq100 ETF
      QCQ1NU3 = Nasdaq100 SSF SEP03
      QCQ1NZ3 = Nasdaq100 SSF DEC03
      NQLX = Börse für SSF
      SPRD = Spread zwischen SEP03 und DEC03 SSF Kontrakt

      ETF: Exchange Traded Fund (bspw. siehe www.amex.com)
      SSF: Single Stock Future (bspw. siehe www.nqlx.com)

      Für was brauchste das Dingens eigentlich ??? :confused:

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      Avatar
      schrieb am 09.05.03 22:42:48
      Beitrag Nr. 6 ()
      @WSJReader

      Genau die Infos hab ich gesucht.

      Ob ich es brauche muss ich erst entscheiden. Ich habs zufällig in der TWS gefunden. Single Stock Future haben einige Vorteile zum Traden. Ähnlich wie Hebelzertis, nur ohne Emistress. An die LIFFE komme ich nicht zum handeln (kein Broker mit Zugang). NQLX geht über IB. Vor einem Jahr hab ich mich mal oberflächlich mit der LIFFE beschäftigt, aber was sollte es ohne Zugang bringen.

      Hat das ``Zeug´´ schon Jemand gehandelt ?


      General Questions about Nasdaq Liffe Markets
      What is Nasdaq Liffe Markets (NQLX)?
      On March 26, 2001, LIFFE and Nasdaq announced the formation of a joint US regulated entity - Nasdaq Liffe Markets - to offer trading of single stock futures to US customers.

      What products will Nasdaq Liffe Markets offer?
      To begin, Nasdaq Liffe Markets is listing single stock futures (See list of underlying stocks). Principal-to-principal trading will begin on NQLX following an analysis of marketplace readiness and submission to the CFTC of final specifications on clearing and internal regulatory arrangements.

      How does NQLX single stock futures differ from the LIFFE Universal Stock Futures?
      The single stock futures offered by Nasdaq Liffe Markets will build on the successes of the LIFFE stock futures product - Universal Stock Futures. However, differences do exist between the two products, largely reflecting the underlying markets in which they operate. For example, Nasdaq Liffe Markets single stock futures will initially be based primarily on US companies, whereas the LIFFE Universal Stock Futures product offering has a heavier European focus with contracts spread across UK, Continental Europe and US companies. Furthermore, the NQLX single stock futures are physically settled whereas the LIFFE Universal Stock Futures are cash settled.

      How much does it cost to trade NQLX Single Stock Futures?
      Nasdaq Liffe Markets charges its members a standard transaction fee per lot, per side. Additionally, the Options Clearing Corporation also levies a small per lot, per side clearing charge. Brokers usually pass on these charges to their customers in addition to charging their own brokerage fees.

      Do you have to be a member of Nasdaq Liffe Markets to trade?
      Only traders registered to Nasdaq Liffe Markets member firms may trade direct on the Exchange. Private investor business is generally transacted on the market through brokers who are registered as member firms.

      Questions about Single Stock Futures

      What are Single Stock Futures?
      Very simply, single stock futures are a range of standardized futures contracts on shares of individual companies.
      See:
      The Basics of Single Stock Futures
      Introduction to Single Stock Futures


      Who are Single Stock Futures designed for?
      Single Stock Futures have primarily been designed for new and existing equity and derivative participants. We anticipate interest from equity trading firms, actively managed funds, and from private investors.

      Why are Single Stock Futures suitable for private investors?
      Single stock futures are a range of futures contracts on the shares of individual companies. They increase the range of investment opportunities offered to private investors by enabling them to trade futures contracts on a selection of top stocks, through one access point, for a fraction of the cost.

      How are Single Stock Futures priced?
      The price of the single stock future should be equal to the cost of buying the shares and holding them until the expiry of the futures contract. That is:

      Fair Futures Price = Today`s Share Price + Interest Costs - Dividends Received

      What is the difference between Single Stock Futures and Equity Options?
      Both products are based on company shares, but each product has a different set of costs and benefits. Single stock futures represent an obligation to deliver/receive the price differential of the contract throughout its life. Their prices go up and down in line with the underlying share price. Options represent a right, but not an obligation to deliver/receive shares during the life of the contract. This difference means that the price of an option, and therefore its profit and loss is affected by a number of additional factors. (e.g. volatility and `time decay`)


      How Far in Advance of an Expiration date Will the Contract Roll-over Period Commence?
      Contract roll-over is common practice in the futures industry. The roll-over is driven by the need to remain in a futures position that is being used to hedge an underlying commodity or instrument or to maintain a spread position. Each market place has established roll-over practices that are suited to the particular futures products. In contrast, the equity options market does not tend to have an established roll-over period in physically settled security options. Similar to other futures products, NQLX envisions that the single stock futures market place and its participants will determine, and if so, develop over time a roll-over practice that suits the general needs of the market and the specific needs of the individual participant. Any party that carries a position close to expiration needs to be knowledgeable of the position limits that are imposed during the last five trading days of an expiring product and be able to meet delivery requirements if they hold the position to expiration.


      When Will the Front-Month Switch Occur from an Expiring Contract to the Next Expiring Contract?
      The practice of identifying a front-month switch was developed for open outcry markets to move the trading of the most prominent contract month to the best trading pit location. In an electronic market this practice is not necessary.

      What is the Shad Johnson Accord?
      Under the Shad Johnson Accord, single stock futures have been prohibited in the US for the past 19 years. The Shad Johnson Accord was repealed in 2000, enabling US investors to trade single stock futures for the first time on regulated US exchanges. The date from which they will be available for trading has been set for December 21, 2001.

      General Questions about Futures

      What are derivatives?
      Derivatives is a term used in the industry to describe financial products such as futures and options which are derived from other existing products. For example, equity futures and options are derived from equities in the underlying share market.

      What are futures?
      Technically, a futures contract is an agreement between buyer and seller to buy or sell a particular asset (e.g. shares) some time in the future at a price agreed today. Futures contracts may be cash-settled or require physical delivery of the underlying asset.

      How do futures work?
      Futures were originally developed for price discovery and to help investors protect their investments and manage their risks. Prices can change dramatically over time and investors are able to use futures markets to protect themselves from uncertainty in price movements.

      How can futures benefit private investors?
      Broadly, futures allow investors to profit from a rising, falling or static market.

      Futures are capital efficient investment tools, which can offer private investors greater exposure to the market than traditional investments, for a smaller initial outlay.

      In particular, equity derivatives offer private investors the opportunity to enhance their equity portfolio by increasing the range of investment opportunities and tools available. They can help to reduce costs, enhance returns and manage price risk with greater certainty, precision and economy.

      Are futures complex to trade?
      While futures are often perceived as complex, the reality is that the principle of futures is no more difficult than the underlying shares market. If used correctly, futures can be powerful investment tools that provide many advantages over trading shares including high liquidity, low transaction costs and leverage.

      Are futures too risky for private investors?
      Derivatives such as futures were originally developed in order to help investors manage risks and ensure money wasn`t lost in the event of the market going against their position.

      One of the unique aspects of futures is the leverage that they provide. This means investors have the ability to obtain exposure to a relatively large asset amount for a small initial outlay. The result is a high risk/high reward investment. For example, a broker requires investors to deposit an initial margin which is refunded when the futures position is closed out. If the market goes the wrong way, it is possible to lose more than the initial margin deposited because the initial margin gives the trader exposure to a portfolio value that is many times greater than the initial margin amount.

      Like most investments, trading futures can be a potentially high-risk strategy. Private investors can lessen the risks of trading by ensuring they have a high degree of product knowledge, they always invest within their means and they deal with a broker who is experienced in the futures industry.

      What is the difference between going short and long?
      Taking a SHORT futures position means committing yourself to deliver shares (or their value) on a certain future date. In comparison, taking a LONG futures position means committing yourself to take delivery of the shares (or their value) on a future date.

      Taking a short position means you think the value of the future will drop. You sell futures then close out by buying futures at a lower price and taking a profit. However, if you close out the position at a higher price, you take a loss. Conversely, taking a long futures position means you think the value of the future will rise. You buy futures then close out by selling futures at a higher price and taking a profit.

      General Questions about this website

      What are PDF files and how do I view them?
      Some of the files on the NQLX.com site, such as the membership application, are presented in the PDF file format. For more information on this file format and how to view these files, please visit the Adobe site.

      Do I need a special software to view the videos on this website?
      The videos on this website are offered in two streaming speeds and two different formats, to accommodate the vast majority of our visitors. First, you have the choice between the dial-up speed (56k) and the broadband speed. Secondly, either Windows Media Player (available from Microsoft) or RealPlayer (available from RealMedia) can be used to view our videos. You will also need a recent version of Internet Explorer or Netscape. Basic licenses of the Internet Explorer, Netscape browser, Windows Media Player and RealPlayer are generally available at no charge on the Internet.

      Note that you must first select a streaming speed and a video player before selecting a video.
      Avatar
      schrieb am 09.05.03 23:20:42
      Beitrag Nr. 7 ()
      Avatar
      schrieb am 10.05.03 10:00:26
      Beitrag Nr. 8 ()
      Avatar
      schrieb am 12.05.03 21:31:26
      Beitrag Nr. 9 ()
      Sorry, aber bei dem Thema tauchen immer mehr Fragen auf


      Welchen IB Market Data Services braucht man für NQLX ?

      Ich hab das 10$ Datenabo bei IB. Die Globexkurse gehen damit, aber die von NQLX nicht.
      Welches Abo brache ich dafür ? Ich dachte NQLX gehört auch zur GLOBEX ?
      Finde leider keine Deutsche Seite zum Thema.



      Non-professional US Securities and Commodities Exchanges USD 10.00 (Waived if monthly commissions > USD 30.00)
      ACE USD 0.00
      Hong Kong Futures Exchange USD 0.00
      Sydney Futures Exchange USD 0.00
      MEFF Renta Variable Market Center EUR 0.00
      IB FX USD 0.0
      NYSE OpenBook USD 50.00 (Billed directly by Exchange)
      NASDAQ Level II USD 79.00
      Eurex EUR 8.00
      Eurex Market Depth EUR 12.00
      Xetra EUR 8.00
      Xetra Market Depth EUR 12.00
      Liffe GBP 20.00
      Liffe Market Depth GBP 25.00
      Swiss Exch. & Virt-X CHF 10.00
      Swiss Exch. & Virt-X Market Depth CHF 50.00
      LSE GBP 4.00
      Non-professional IDEM Level I EUR 3.00
      Non-professional IDEM Level II EUR 8.00
      Matif & Monep EUR 8.00
      Avatar
      schrieb am 13.05.03 00:11:09
      Beitrag Nr. 10 ()
      NQLX geht mit deinem Datenabo, du darfst halt
      nur nicht gerade deinen komischen Spread nehmen.
      Damit verwirrst du lediglich die IB TWS Software ... ;)


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      QQQ SPRD QCQ1NU3#QCQ1NZ3 NQLX USD ???????????