Start your trading journey on the right path

What you need to know about event contracts and how to use them.

Get comfortable with event contracts before you start your trading journey. Our extensive library of educational resources can help streamline your learning curve and better position you for success.

Break down the basics

Watch videos that break down key concepts into smaller steps to help you understand the basics more quickly and set your own pace for learning.

What are event contracts?

Explore what the contracts are, when they expire, how to enter/exit trades, and more.

Review a profitable event contract trade

How can you profit from event contracts? We take you step by step through a winning trade example.

Analyze an unprofitable trade in event contracts

How do event contracts minimize your potential loss? We take you step by step through an unsuccessful trade example.

Explore the markets you can trade

Learn about futures markets you can access using event contracts.

Find more answers

Learn more about the different features of event contracts and how they work by reading through our expanded Q&A section.

Event contracts are $20-increment, daily expiring products that allow market participants to trade their views on daily up or down price moves in some of the world’s most trusted benchmark Equity Index, Energy, Metals, and Foreign Currency futures markets with risk limited to the amount of the trade.

CME Group is bringing event contracts to the growing number of retail market participants who want a less complex way to trade some of the world’s most recognized markets – ones they know and interact with every day.

Event contracts provide a way to express your view on where the price of CME Group futures will close. Featured products include:

Equity Indices
Foreign currencies

You can trade your view on whether the price of key futures markets will move up or down by the end of each day's trading session. You will need to open an account with a participating brokerage firm supporting event contracts.

Find a participating brokerage firm here.

Event contracts are just like any other CME Group contract.  You may trade to exit your position(s) before daily expiration.


S&P 500

Contract open - 6:00 PM ET

Settlement time - 4:00 PM ET


Contract open - 6:00 PM ET

Settlement time - 4:00 PM ET


Contract open - 6:00 PM ET

Settlement time - 4:00 PM ET

Russell 2000

Contract open - 6:00 PM ET

Settlement time - 4:00 PM ET


WTI Crude Oil

Contract open - 6:00 PM ET

Settlement time - 2:30 PM ET

Natural Gas

Contract open - 6:00 PM ET

Settlement time - 2:30 PM ET



Contract open - 6:00 PM ET

Settlement time - 1:30 PM ET


Contract open - 6:00 PM ET

Settlement time - 1:30 PM ET


Contract open - 6:00 PM ET

Settlement time - 1:00 PM ET


Euro FX

Contract open - 6:00 PM ET

Settlement time - 3:00 PM ET

Product details

Contract specifications can be found here.

Yes, traders can choose from several price levels on both the ‘yes’ and ‘no’ sides of the market, and these price levels reflect different probabilities. To calculate the probability of a position, multiply the cost by 5. For example, if you pay $15 to predict ‘yes’, then the market is suggesting there is a 75% chance of the product closing above the listed price.

If the price prediction for the event contract you trade is correct (using the daily settlement price of the corresponding futures at the determining value), you will receive the $20 payout on that trade. If not, your cost will be the amount you paid to purchase the position.

Each event contract is worth $20 if correct; the amount required to purchase a contract varies based on the likelihood of success. At the end of the daily trading session, event contracts that result in a successful outcome will payout $20 and those that are unsuccessful are settled to $0.

Event contracts are cash-settled daily.  Traders will not receive a futures contract upon settlement.  Event contracts will be settled automatically using the daily settlement price of the corresponding futures product. If the event contract’s price prediction is correct in relation to the daily settlement price, then trade is successful; if the price prediction is incorrect, it will expire, and no further action is required.

An Event Contract is successful if the price is greater or less than a predicted level.  If the settlement price is exactly at a predicted price, it will be treated as unsuccessful and settled at $0.

Exchange fees

There will be no transaction fees for 9 out of 10 of event contracts at this time. Transaction fees for event contracts based on E-mini Dow futures will be $0.01.

Additional information

Delayed quotes will be available on You can also access quotes through participating brokers here.

CME Group will only adjust contract expiration dates in the event of observed holidays by the United States; otherwise, contract expirations will remain at their regularly scheduled date. 

Event contracts will follow the normal CME Group business days calendar – event contracts will not have a trade date when the related futures product has a holiday and does not have an official trade date.

Example for July 4 holiday:

  • July 3, 5:00 p.m. CT – Event contracts are not available to trade
  • July 4, 5:00 p.m. CT – Event contract are available to trade for July 5

View the holiday calendar here.

Want to know more about event contracts and the futures markets behind them? When you’re ready to go deeper, use our extensive library of self-paced online courses to get detailed looks at how event contracts work and their relationship to futures.

Interested? Sign up today and be the first to get updates

Stay informed on the latest event contract updates

Thank you! You're now on our list to receive updates.

CME Group reminds all market participants that they are required to abide by applicable local regulations with respect to trading, sale or distribution of Event Contracts. Market participants that trade or wish to trade Event Contracts, and brokers that seek to sell or distribute such products, must therefore comply with any applicable restrictions or prohibitions imposed by such market participant’s home jurisdiction, including where applicable, and without limitation, the prohibitions on marketing, offering or distribution of such products to retail customers in the United Kingdom and the European Union.

CME Group is the world’s leading derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). 
Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX.

© 2023 CME Group Inc. All rights reserved.