6S Contract Specs: Tick Size, Tick Value, Margin, and Rollover Explained
If you’re trading 6S Swiss Franc futures without knowing the contract specs, you’re gambling. This contract has a specific tick size, value, and margin structure that directly affects your risk and position sizing. Here’s the no-bullshit breakdown of everything you need to know before pressing the buy or sell button.
1. Tick Size and Tick Value
6S uses a fractional pricing format that throws beginners off. The contract trades in decimals, not in the funky pip-based structure of spot FX.
| Spec | Value |
|---|---|
| Minimum Tick Size | 0.0001 |
| Tick Value | $12.50 per tick |
| Full Point | 100 ticks |
| Value of Full Point | $1,250 |
Translation: every tiny move costs or pays real money. 6S isn’t a micro contract; it hits your P&L fast if you size stupidly.
2. Contract Size
The 6S contract controls 125,000 Swiss Francs. That means every tick reflects a real movement in the underlying notional value.
Spot traders get confused here because 6S moves “slower” than CHF/USD—but that’s only visually. In dollar terms, every tick is meaningful due to the contract size.
3. Margin Requirements
Margin varies by broker, but the exchange sets the baseline initial and maintenance levels. These are not negotiable. This is futures, not spot.
What matters:
- Initial margin is required to open the position
- Maintenance margin must be met or you get liquidated
- Margins expand during high volatility
Don’t treat futures margin like spot leverage. You don’t get 1:500 clown leverage here. This is tightly regulated.
4. Trading Hours & Sessions
6S trades nearly 23 hours per day, but liquidity is not even. The best volume shows up during:
- European session
- U.S. session open
- Major economic releases
The Asian session is usually a slow grind unless global risk is shifting dramatically.
5. Rollover & Contract Expiration
6S has quarterly expirations (March, June, September, December). As expiration approaches:
- Volume migrates to the next contract
- Spreads widen briefly during the switch
- Rollover pricing reflects interest rate differentials
Do not hold the expiring contract into the last days unless you enjoy slippage and garbage liquidity.
6. Tick Behavior Compared to Spot CHF/USD
6S ticks are clean, standardized, and transparent. Spot CHF/USD pricing is broker-dependent and may show “noise” spikes. In 6S, every tick is real buying/selling by traders on the exchange. That’s why order flow tools work better in futures.
If you’ve posted your spot vs futures article, this builds directly on that concept.
Final Takeaway: Know the Specs or Blow Your Account
6S Swiss Franc futures are simple once you understand the tick value, margin structure, and rollover rules. Learn these specs now, or pay tuition to the market later. Your choice.