I have been looking to get a better handle on Futures and move from the spot FX market. I wonder if a few folks can give a naive Futures trader a mini-education.
I tend to trade the GBP/USD Spot market but after discussions with a fellow trader who trades the same thing in Futures with PLENTY of commission savings over spot- I am very interested in the transition.
My question is this:
I'm curious if someone can tell me what the difference between these two instruments is?
British Pound (E) (B6M8) Jun 08 1.9491 1.9519 1.9406 1.9454
British Pound (BPM8) Jun 08 1.9420 1.9453 1.9408 1.9453
Both are June 08 Futures contracts, there is an obvious difference in pricing of the instruments and one has this (E) notation.
Can any of the old souls of the Futures world help in deciphering this new world of notations for me?
Thanks!
Aaron