- What new E-mini Equity Index futures are available?
- What are the underlying indices of these contracts?
- What additional background do you have regarding the Morningstar index, in particular?
- Why were these contracts launched?
- Are these contracts eligible for block trading?
- What is the minimum block size for these new contracts?
- Are the new E-mini Equity Index futures EFP eligible?
- What are the new product codes and tickers, including the underlying index tickers?
- How is the final settlement price determined?
- What are the margin requirements for additional E-mini Equity Index futures?
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E-mini S&P 1500, S&P Total Market, Russell 3000 and Morningstar US Total Market futures
1. What new E-mini Equity Index futures are available?
CME Group has introduced four new E-mini Equity Index futures:
2. What are the underlying indices of these contracts?
The underlying indices for the above futures are as follows, respectively:
| Contract | Underlying index | Methodology | Constituents* |
|---|---|---|---|
| E-mini Morningstar US Total Market Index futures | CRSP US Total Market Index** | View the methodology | 3498 stocks |
| E-mini S&P 1500 Index futures | S&P Composite 1500 Index | View the methodology | 1506 stocks |
| E-mini S&P Total Market Index futures | S&P Total Market Index | View the methodology | 3824 stocks |
| E-mini Russell 3000 Index futures | Russell 3000 Index | View the methodology | 2923 stocks |
*Index constituents as of May 26, 2026. Subject to change.
**Effective July 28, 2026, the CRSP US Total Market Index will be renamed to Morningstar US Total Market Index.
3. What additional background do you have on the Morningstar index, in particular?
Effective July 28, 2026, the CRSP US Total Market Index will be rebranded to Morningstar US Total Market Index.
4. Why were these contracts launched?
CME Group expanded the E-mini Equity Index futures suite to include these broader market futures in response to client demand.
5. Are these contracts eligible for block trading?
Yes, these contracts are eligible for outright block trades, derived block trades and BTIC block trades.
Note the minimum price increment for outright block trades and derived block trades is one cent. The minimum price increment for BTIC block will conform to the minimum price increment as stated in the individual contract specifications. Please see the latest Rule 526 MRAN.
6. What is the minimum block size for these new contracts?
The minimum block size is 50.
7. Are the new E-mini Equity Index futures EFP eligible?
Yes. As CME Group futures contracts, these additional Equity Index futures are eligible for Exchange For Related Position (EFRP) trades. They can be utilized in a privately negotiated EFP trade where the physical side can be a related ETF. For more questions on EFPs, please see the latest Rule 538 MRAN.
8. What are the new product codes and tickers, including the underlying index tickers?
| Index | UNDERLYING INDEX TICKER | CME GLOBEX | CME BTIC BLOCK TRADE TICKER | BLOOMBERG FRONT-MONTH | BLOOMBERG FRONT-MONTH BTIC | THOMSON REUTERS FRONT-MONTH | THOMSON REUTERS FRONT-MONTH BTIC | |
|---|---|---|---|---|---|---|---|---|
| E-mini Equity futures | S&P Composite 1500 Index | SPR | SPC | SPB | RSCA Index | XPBA Index | SCP |
SPBT |
| Russell 3000 Index | RAY | RAYF | RAYT | RAEA Index | RASA Index | RAYF | RAYT | |
| CRSP US Total Market Index** | CRSPTM1 | MUTM | MUST | MHLA Index |
BZIA Index | MUTM | MUST | |
| S&P Total Market Index | SPTMI | STM | STT | SPTA Index | SZDA Index | SWT | SAT |
**Effective July 28, 2026, the CRSP US Total Market Index will be rebranded to Morningstar US Total Market Index.
9. How is the final settlement price determined?
These E-mini Equity Index futures settle the same way as the other Equity Index futures listed on our exchanges. On expiration day, typically the third Friday of the quarterly contract month, the expiring Equity Index futures will settle to the Special Opening Quotation (SOQ) of the respective underlying index, which is calculated with the official opening price of each constituent in the index. The same methodology is used for the E-mini S&P 500 and other popular U.S. Equity Index futures.
10. What are the margin requirements for additional E-mini Equity Index futures?
The margin requirements below are in line with other Equity Index futures listed at CME Group in SPAN2 margin model and subject to change by CME Clearing.
Find out more about margin requirements.
All examples in this report are hypothetical interpretations of situations and are used for explanation purposes only. The views in this report reflect solely those of the author and not necessarily those of CME Group or its affiliated institutions. This report and the information herein should not be considered investment advice or the results of actual market experience.
