Please be advised that effective Sunday, June 6, 2021 for trade date Monday, June 7, 2021, changes will be applied to the E-mini S&P 500 Stock Price Index Futures and Related Options Contracts. Please refer to SER #8776 to access these changes.
|Contract Unit||1 E-mini S&P 500 futures contract|
|Minimum Price Fluctuation||Reduced Tick:||0.05 index points = $2.50 for premium at or below 5.00|
|Outright:||0.25 index points = $12.50 for premium above 5.00|
|CAB||0.05 index points = $2.50|
|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 9 consecutive quarters and 3 additional December contract months.|
|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, 366 days prior to expiry (1 calendar year): +20% to -40% of the prior day’s settlement price on the underlying future contract
10 index point integer multiples, 186 days prior to expiry (6-months prior to expiration): +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.
Dynamic strike allowed at 5.
|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.|
|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.