Any difference in futures contracts with same underlying traded on different exchanges?

Question

eg. nikkei futures traded on OSE, CME and SGX? or soybean meal on CBOT and ECBT?

eg. swissfranc on CME,PBOT,NYBOT? or Nikkei225 on CME,OSE,SIMEX? are the prices all the same? if different, is there room for arbitrage?

Answer 1

For the Nikkei futures, there could be differences in the size of the contracts or in how they are paid. For example, it could be a multiple of the index value paid in yen or in dollars.

For commodities, there could be differences in the size of the contract -- but also in delivery specifications. For example, one corn contract may accept delivery in Kansas City while another accepts delivery in Minneapolis (these are examples, not the real specs).

For most purposes, delivery details are unimportant -- since most investors get out before delivery

Answer 2

I'm not quite sure of what you are asking. But if you are asking if there is a difference in American options, European options, and Asian options, than the answer is yes there is a difference.

American options you can exercise at any time. European options you can only exercise at expiration. Asian options depends on the average price of the underlying commodity over time instead of maturity.

Hope that helps, if not sorry.

Answer 3

If the contract size is the same - then no.
But you have to go where the liquidity is.

FYI - CBOT and ECBT is the same thing...