Contract Unit | 1 E-mini S&P 500 futures contract | ||||
Minimum Price Fluctuation |
0.25 index points = $12.50, for premium greater than 5.00 Reduced tick: 0.05 index points = $2.50, for premium less than or equal to 5.00 CAB: 0.05 index points = $2.50 |
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Price Quotation | U.S. dollars and cents per index point | ||||
Trading Hours | CME Globex: | Sunday - Friday 6:00 p.m. - 5:00 p.m. ET (5:00 p.m. - 4:00 p.m. CT) with a daily trading halt from 4:15 p.m. - 4:30 p.m. ET | CME ClearPort: | Sunday 5:00 p.m. - Friday 5:45 p.m. CT with no reporting Monday - Thursday from 5:45 p.m. – 6:00 p.m. CT | |
Product Code | CME Globex: ESCME ClearPort: ESClearing: ES | ||||
Listed Contracts | Quarterly contracts (Mar, Jun, Sep, Dec) listed for 4 consecutive quarters | ||||
Termination Of Trading | Trading terminates at 9:30 a.m. ET on the 3rd Friday of the contract quarter. | ||||
Position Limits | CME Position Limits | ||||
Exchange Rulebook | CME 358 A | ||||
Price Limit Or Circuit | Price Limits | ||||
Vendor Codes | Quote Vendor Symbols Listing | ||||
Strike Price Listing Procedures | 100 index point integer multiples, when listed: +30% to -50% of the prior day’s settlement price on the underlying future contract 50 index point integer multiples, when listed: +20% to -40% of the prior day’s settlement price on the underlying future contract 10 index point integer multiples, when the underlying future is the second closest contract: +10% to -25% of the prior day’s settlement price on the underlying future contract 5 index point integer multiples, 35 days prior to expiry (or 5 Weeks): +5% to -15% of the prior day’s settlement price on the underlying future contract |
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Exercise Procedure | American Style. An option can be exercised until 6:30 p.m. ET on any business day the option is traded | ||||
Settlement At Expiration | Option exercise results in a position in the underlying cash-settled futures contract. In-the-money options, in the absence of contrarian instructions delivered to the Clearing House by 6:30 p.m. ET on the day of expiration, are automatically exercised into expiring cash-settled futures, which settle to the SOQ calculated the morning of the 3rd Friday of the contract month. | ||||
Settlement Method | Deliverable | ||||
Underlying | E-mini S&P 500 Stock Price Index Futures |
An electronically traded futures contract one fifth the size of standard S&P futures, E-mini S&P 500 futures and options are based on the underlying Standard & Poor’s 500 stock index. Made up of 500 individual stocks representing the market capitalizations of large companies, the S&P 500 Index is a leading indicator of large-cap U.S. equities.
Whether you are a new trader looking to get started in futures, or an experienced trader looking to expand your exposure to the U.S. stock market, E-mini S&P 500 futures provide you with the opportunity you need.