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Are bid ask spread for Nikkei futures in bps so high?

Joined
4/28/10
Messages
73
Points
18
Hi everyone,

Quick question. Based on my calculations, it seems that the bid ask spread for Nikkei futures in basis points are so high.

Typically, Nikkei futures are quoted as Bid: 16,000 Ask: 16,010.
Bid Ask: 10. Bid Ask (bps): 10 / 16,000 = 0.000625 or 0.06% or 6 bps.
Is this right?

Compared with ESA futures. Bid: 2162.75. Ask: 2163.00.
Bid Ask: 0.25. Bid Ask (bps): 0.25 / 2162.75 = 0.000116 or 0.01% or 1bps.

I understand it's a function of Nikkei's base of 16,000. But the calculation is standard and shows 6 bps.

Is my calculation correct?

Sincerely Yours,
Donny
 
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