one tick in eurodollar futeres

[tastyfriedchicken]

in the eurodollar futures the minimum price change is one tick which is a price change of 0.0001=0.01%, representing $25 per $1 million contract, why ??
in my opinion 0.01% representing 100 dollars per 1million contract.
0.0001*1000000=100
page 189 study session 17, schwesser, futures markets and contracts

 

[wct2010]

You are on the right track, but you have to convert it to a 90/360 day rate so it’s actually
(.0001)(90/360)*1,000,000 or $25.

 

[wct2010]

You are on the right track, but you have to convert it to a 90/360 day rate so it’s actually
(.0001)(90/360)*1,000,000 or $25.

 

[tastyfriedchicken]

thank you very much

 

[mohammad.belaal]

1 tick 25$ if on $1m contract for 90 day LIBOR