Full Versus Only Futures: Trading Session Labels

Summary

The document explains two labels that may appear on otherwise similar futures listings: “full” and “only.” The answer interprets them as references to trading sessions. “Full” denotes the broader CME Globex session, while “only” refers to the open-outcry floor session.

Under this interpretation, prices can match while both sessions are open, but may differ when the floor session is closed and Globex continues trading. The explanation is brief and framed as the respondent’s understanding, rather than supported by exchange documentation or a detailed product specification. Session schedules and naming practices can vary by exchange and data vendor, so the answer is best used as a clue for interpreting listings rather than a universal naming rule.

Key ideas

• “Full” is described as referring to the CME Globex trading session.
• “Only” is described as referring to the open-outcry floor session.
• Quotes can diverge when the floor session is closed but Globex remains open.
• The explanation is an interpretation and may depend on exchange or vendor conventions.

Tags

# What is the difference between full and only futures?


# What is the difference between full and only futures?












If you look at instrument name for listed on various futures exchange you often see

Gold Only1214

Gold Full1214

What is "Full" and "Only" mean? The price listed is the same and I cannot find a reference to this convention anywhere?

(Please and Thank you.)

## Answer by hroptatyr (score 4, accepted)

https://quant.stackexchange.com/a/8778

I'm quite sure I heard it in reference to trading sessions. Gold full (trading session) is CME Globex. Gold only (open outcry) is just the floor session.

The prices will differ when the floor session is closed.

Shown in full with attribution under the source's licence. Licence: CC BY-SA 4.0 (Stack Exchange)

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.