Micro E-mini S&P 500 futures (product symbol MES) are based on the S&P 500 Index, a broad-based market capitalization weighted index that tracks 500 of the largest (or large-cap) U.S. companies. This index is widely followed as a key indicator of the health of the U.S. stock market, This smaller-sized electronic futures contract gives traders an opportunity to take positions on whether the performance of the S&P 500 Index will go up or down in value.
At $5.00x's the S&P 500 Index price, Micro E-mini S&P 500 futures provide a broader universe of individual traders the opportunity to discover the benefits of trading futures by lowering the amount of money required to enter the market.
Micro E-mini S&P 500 futures are “futures contracts” on an equity index benchmark. They are cash-settled contracts with quarterly expiration dates scheduled for the months of March, June, September, and December.
With a single transaction, investors can use equity index futures products to manage risk or seek profits based on whether they think the stock market performance will rise or fall.
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Five months in the March Quarterly Cycle (March, June, September, December, March)
CME Globex: Sun-Fri: 5:00 p.m. to 4:00 p.m. Mon-Fri: Daily trading halt from 3:15 p.m. to 3:30 p.m.
Micro E-mini S&P 500
$5 x S&P 500 Index
CME offers electronic trading almost 24/6
0.25 index points
MES
$1.25 per contract
Financially Settled
2 Quarterlies, 3 End-of-Months, 5 Fridays (3 Weeks 1,2 and 4 & 2 Serials)
Trading terminates at 9:30 a.m. ET on the 3rd Friday of the contract month.
Micro E-mini S&P 500
Weekly (M,W,F), Monthly, Quarterly
EOM: EX
Weekly: EX1- EX4
Quarterly: MES
Globex
CME Globex: Sun-Fri: 5:00 p.m. to 4:00 p.m. Mon-Fri: Daily trading halt from 3:15 p.m. to 3:30 p.m.
Quarterly: American. Weeklies, EOM: European
Outright: 0.25=$1.25 for premium >5.00 Reduced Tick: 0.05=$0.25 for premium < or =5.00
