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Contract Unit | One S&P 500 futures contract | ||||
Minimum Price Fluctuation |
Globex Regular Tick: 0.10 index points ($25.00) for premium > 5.00 index points ($1,250) Globex Reduced Tick: 0.05 index points ($12.50) for premium at or below 5.00 index points ($1,250) CPC and Pit Regular Tick (Outrights): 0.10 index points ($25.00) for premium > 5.00 index points ($1,250) CPC and Pit Reduced Tick (Outrights): 0.05 index points ($12.50) for premium at or below 5.00 index points ($1,250) CPC and Pit Regular Tick (Spreads): 0.10 index points ($25.00) for premium > 10.00 index points ($2,500) CPC and Pit Regular Tick (Spreads): 0.05 index points ($12.50) for premium at or below 10.00 index points ($2,500) CAB: 0.05 index points ($12.50) |
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Trading Hours | Open Outcry: Monday - Friday: 9:30 a.m. - 4:15 p.m. Eastern Time (ET) CME Globex: Sunday - Friday: 6:00 p.m. - 5:00 p.m. ET with a trading halt 9:15 a.m. - 4:30 p.m. CME Clearport: Sunday - Friday: 6:00 p.m. - 5:00 p.m. ET |
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Product Code | CME Globex: SP CME ClearPort: SP Open Outcry: Put: PS Call: CS Clearing: SP |
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Listed Contracts | Open Outcry: Quarterly contracts (Mar, Jun, Sep, Dec) listed for 8 consecutive quarters. CME Globex: Quarterly contracts (Mar, Jun, Sep, Dec) listed for 1 quarter. CME Clearport: Quarterly contracts (Mar, Jun, Sep, Dec) listed for 8 consecutive quarters. |
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Termination Of Trading | Open Outcry: 4:15 p.m. ET on Thursday prior to 3rd Friday of the contract month CME Globex: 9:15 a.m. ET on Thursday prior to 3rd Friday of the contract month |
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Position Limits | CME Position Limits | ||||
Exchange Rulebook | CME 351A | ||||
Block Minimum | Block Minimum Thresholds | ||||
Price Limit Or Circuit | Price Limits | ||||
Vendor Codes | Quote Vendor Symbols Listing | ||||
Strike Price Listing Procedures | At all multiples of 25 index points within ±50% of Exercise Price Reference, centered on previous day’s settlement price of the underlying futures At all multiples of 10 index points within ±20% of Exercise Price Reference, centered on previous day’s settlement price of the underlying futures Once the option’s underlying futures contract becomes second nearest to delivery, at all multiples of 5 index points within ±10% of Exercise Price Reference, centered on previous day’s settlement price of the underlying futures |
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Exercise Style | American Options | ||||
Exercise Procedure | American Style. An option can be exercised until 8:00 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 8:00 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 | S&P 500 Futures |
Contract Unit | One S&P 500 futures contract | ||||
Minimum Price Fluctuation |
Globex Regular Tick: 0.10 index points ($25.00) for premium > 5.00 index points ($1,250) Globex Reduced Tick: 0.05 index points ($12.50) for premium at or below 5.00 index points ($1,250) CPC and Pit Regular Tick (Outrights): 0.10 index points ($25.00) for premium > 5.00 index points ($1,250) CPC and Pit Reduced Tick (Outrights): 0.05 index points ($12.50) for premium at or below 5.00 index points ($1,250) CPC and Pit Regular Tick (Spreads): 0.10 index points ($25.00) for premium > 10.00 index points ($2,500) CPC and Pit Regular Tick (Spreads): 0.05 index points ($12.50) for premium at or below 10.00 index points ($2,500) CAB: 0.05 index points ($12.50) |
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Trading Hours | Open Outcry: Monday - Friday: 9:30 a.m. - 4:15 p.m. Eastern Time (ET) CME Globex: Sunday - Friday: 6:00 p.m. - 5:00 p.m. ET with a trading halt 9:15 a.m. - 4:30 p.m. CME Clearport: Sunday - Friday: 6:00 p.m. - 5:00 p.m. ET |
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Product Code | CME Globex: EV CME ClearPort: EV Open Outcry: EV Clearing: EV |
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Listed Contracts | Six consecutive calendar months | ||||
Termination Of Trading | Open Outcry: 4:00 p.m. ET on Last Business day of the month CME Globex: 9:15 a.m. ET on Last Business day of the month |
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Position Limits | CME Position Limits | ||||
Exchange Rulebook | CME 351 A | ||||
Block Minimum | Block Minimum Thresholds | ||||
Price Limit Or Circuit | Price Limits | ||||
Vendor Codes | Quote Vendor Symbols Listing | ||||
Strike Price Listing Procedures | At all multiples of 25 index points within ±50% of Exercise Price Reference, centered on previous day’s settlement price of the underlying futures At all multiples of 10 index points within ±20% of Exercise Price Reference, centered on previous day’s settlement price of the underlying futures Once the option’s underlying futures contract becomes second nearest to delivery, at all multiples of 5 index points within ±10% of Exercise Price Reference, centered on previous day’s settlement price of the underlying futures |
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Exercise Procedure | European Style. Exercisable only on expiration day. | ||||
Settlement At Expiration | Option exercise results in a position in the underlying cash-settled futures contract. Options which are in-the-money on the last day of trading are automatically exercised. A 4:00 p.m. ET price fixing based on the weighted average traded price fixing (symbol ESF) of the E-mini S&P 500 futures in the last 30 seconds of trading on expiration day (3:59:30 p.m.-4:00:00 p.m. ET) will be used to determine which options are in-the-money. Contrarian instructions are prohibited. | ||||
Settlement Method | Deliverable | ||||
Underlying | S&P 500 Futures |
Contract Unit | One E-mini S&P 500 futures contract | ||||
Minimum Price Fluctuation | CME ClearPort and Open Outcry: | Regular Tick (Outrights): 0.10 index points = $25.00 when premium is above 5.00 index points Reduced Tick (Outrights): 0.05 index points = $12.50 when premium is at or below 5.00 index points Regular Tick (Spreads): 0.10 index points = $25.00 when premium is higher than 10.00 index points Reduced Tick (Spreads): 0.05 index points = $12.50 when premium is at or below 10.00 index points |
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CME Globex: | Regular Tick: 0.10 index points = $25.00 when premium is above than 5.00 index points Reduced Tick: 0.05 index points = $12.50 when premium is at or below 5.00 index points CAB: 0.05 index points = $12.50 |
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Trading Hours | CME Globex: | Sunday - Friday: 6:00 p.m. - 5:00 p.m. ET with a trading halt 9:15 a.m. - 4:30 p.m. | |||
CME ClearPort: | Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT) | ||||
Open Outcry: | Monday - Friday: 9:30 a.m. - 4:15 p.m. ET | ||||
Product Code | CME Globex: S1A,S2A,S3A,S4A,S5A CME ClearPort: S1A,S2A,S3A,S4A,S5A Open Outcry: S1A,S2A,S3A,S4A,S5A Clearing: S1A,S2A,S3A,S4A,S5A |
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Listed Contracts | Weekly contracts listed for 2 consecutive weeks | ||||
Termination Of Trading | Trading terminates at 4:00 p.m. ET on Monday of the contract week | ||||
Position Limits | CME Position Limits | ||||
Exchange Rulebook | CME 351A | ||||
Block Minimum | Block Minimum Thresholds | ||||
Price Limit Or Circuit | Price Limits | ||||
Vendor Codes | Quote Vendor Symbols Listing | ||||
Strike Price Listing Procedures | Listing rules will be independent of existing quarterly strike replication 5 index point integer multiples: +5% to -15% of the prior day’s settlement price on the underlying future contract 10 index point integer multiples: +10% to -25% of the prior day’s settlement price on the underlying future contract 25 index point integer multiples: +15% to -35% of the prior day’s settlement price on the underlying future contract |
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Exercise Procedure | European Style. Exercisable only on expiration day. | ||||
Settlement At Expiration | Option exercise results in a position in the underlying cash-settled futures contract. Options which are in-the-money on the last day of trading are automatically exercised. A 4:00 p.m. ET price fixing based on the weighted average traded price fixing (symbol ESF) of the E-mini S&P 500 futures in the last 30 seconds of trading on expiration day (3:59:30 p.m.-4:00:00 p.m. ET) will be used to determine which options are in-the-money. Contrarian instructions are prohibited. | ||||
Settlement Method | Deliverable | ||||
Underlying | S&P 500 Futures |
Contract Unit | One S&P 500 futures contract | ||||
Minimum Price Fluctuation |
Globex Regular Tick: 0.10 index points ($25.00) for premium > 5.00 index points ($1,250) Globex Reduced Tick: 0.05 index points ($12.50) for premium at or below 5.00 index points ($1,250) CPC and Pit Regular Tick (Outrights): 0.10 index points ($25.00) for premium > 5.00 index points ($1,250) CPC and Pit Reduced Tick (Outrights): 0.05 index points ($12.50) for premium at or below 5.00 index points ($1,250) CPC and Pit Regular Tick (Spreads): 0.10 index points ($25.00) for premium > 10.00 index points ($2,500) CPC and Pit Regular Tick (Spreads): 0.05 index points ($12.50) for premium at or below 10.00 index points ($2,500) CAB: 0.05 index points ($12.50) |
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Trading Hours | Open Outcry: Monday - Friday: 9:30 a.m. - 4:15 p.m. Eastern Time (ET) CME Globex: Sunday - Friday: 6:00 p.m. - 5:00 p.m. ET with a trading halt 9:15 a.m. - 4:30 p.m. CME Clearport: Sunday - Friday: 6:00 p.m. - 5:00 p.m. ET |
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Product Code | CME Globex: EV1,EV2,EV3,EV4 CME ClearPort: EV1,EV2,EV3,EV4 Open Outcry: EV1,EV2,EV3,EV4 Clearing: EV1,EV2,EV3,EV4 |
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Listed Contracts | At any given time, four nearest weeks of EV1, EV2, and EV4 (Weeks 1, 2 & 4) and three nearest weeks of EV3 (Week 3) will be listed for trading | ||||
Termination Of Trading | 4:00 p.m. ET on Friday of the named week | ||||
Position Limits | CME Position Limits | ||||
Exchange Rulebook | 351A | ||||
Block Minimum | Block Minimum Thresholds | ||||
Price Limit Or Circuit | Price Limits | ||||
Vendor Codes | Quote Vendor Symbols Listing | ||||
Strike Price Listing Procedures | EV3 (Week 3) At all multiples of 25 index points within ±50% of Exercise Price Reference, centered on previous day’s settlement price of the underlying futures. At all multiples of 10 index points within ±20% of Exercise Price Reference, centered on previous day’s settlement price of the underlying futures. Once the option’s underlying futures contract becomes second nearest to delivery, at all multiples of 5 index points within ±10% of Exercise Price Reference, centered on previous day’s settlement price of the underlying futures. EV1, EV2 and EV4 (Week 1, 2 & 4) Strike Listing rules will be independent of existing quarterly strike replication 25 index point integer multiples: +15% to -35% of the prior day’s settlement price on the underlying future contract 10 index point integer multiples: +10% to -25% of the prior day’s settlement price on the underlying future contract 5 index point integer multiples: +5% to -15% of the prior day’s settlement price on the underlying future contract |
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Exercise Procedure | European Style. Exercisable only on expiration day. | ||||
Settlement At Expiration | Option exercise results in a position in the underlying cash-settled futures contract. Options which are in-the-money on the last day of trading are automatically exercised. A 4:00 p.m. ET price fixing based on the weighted average traded price fixing (symbol ESF) of the E-mini S&P 500 futures in the last 30 seconds of trading on expiration day (3:59:30 p.m.-4:00:00 p.m. ET) will be used to determine which options are in-the-money. Contrarian instructions are prohibited. | ||||
Settlement Method | Deliverable | ||||
Underlying | S&P 500 Futures |
Contract Unit | One S&P 500 futures contract | ||||
Minimum Price Fluctuation |
Globex Regular Tick: 0.10 index points ($25.00) for premium > 5.00 index points ($1,250) Globex Reduced Tick: 0.05 index points ($12.50) for premium at or below 5.00 index points ($1,250) CPC and Pit Regular Tick (Outrights): 0.10 index points ($25.00) for premium > 5.00 index points ($1,250) CPC and Pit Reduced Tick (Outrights): 0.05 index points ($12.50) for premium at or below 5.00 index points ($1,250) CPC and Pit Regular Tick (Spreads): 0.10 index points ($25.00) for premium > 10.00 index points ($2,500) CPC and Pit Regular Tick (Spreads): 0.05 index points ($12.50) for premium at or below 10.00 index points ($2,500) CAB: 0.05 index points ($12.50) |
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Trading Hours | Open Outcry: Monday - Friday: 9:30 a.m. - 4:15 p.m. Eastern Time (ET) CME Globex: Sunday - Friday: 6:00 p.m. - 5:00 p.m. ET with a trading halt 9:15 a.m. - 4:30 p.m. CME Clearport: Sunday - Friday: 6:00 p.m. - 5:00 p.m. ET |
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Product Code | CME Globex: S1C,S2C,S3C,S4C,S5C CME ClearPort: S1C,S2C,S3C,S4C,S5C Open Outcry: S1C,S2C,S3C,S4C,S5C Clearing: S1C,S2C,S3C,S4C,S5C |
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Listed Contracts | At any given time, two nearest weeks of S1C, S2C, S3C, S4C, and S5C will be listed for trading | ||||
Termination Of Trading | 4:00 p.m. ET on Wednesday of the named week | ||||
Position Limits | CME Position Limits | ||||
Exchange Rulebook | CME 351A | ||||
Block Minimum | Block Minimum Thresholds | ||||
Price Limit Or Circuit | Price Limit or Circuit Breaker | ||||
Vendor Codes | Quote Vendor Symbols Listing | ||||
Strike Price Listing Procedures | Listing rules will be independent of existing quarterly strike replication 5 index point integer multiples: +5% to -15% of the prior day’s settlement price on the underlying future contract 10 index point integer multiples: +10% to -25% of the prior day’s settlement price on the underlying future contract 25 index point integer multiples: +15% to -35% of the prior day’s settlement price on the underlying future contract |
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Exercise Procedure | European Style. Exercisable only on expiration day. | ||||
Settlement At Expiration | Option exercise results in a position in the underlying cash-settled futures contract. Options which are in-the-money on the last day of trading are automatically exercised. A 4:00 p.m. ET price fixing based on the weighted average traded price fixing (symbol ESF) of the E-mini S&P 500 futures in the last 30 seconds of trading on expiration day (3:59:30 p.m.-4:00:00 p.m. ET) will be used to determine which options are in-the-money. Contrarian instructions are prohibited. | ||||
Settlement Method | Deliverable | ||||
Underlying | S&P 500 Futures |
S&P 500 futures and options offer a capital-efficient means to manage exposure to the leading large –cap companies of the U.S. stock market. Based on the underlying Standard & Poor’s 500 stock index, which is 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.
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