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Micro Futures Contract Trading

Trading Precious Metals, FX, Energy, and Equity Indices

Trade futures and options on Micro products

The Big Thing – Micro Futures Trading

The CME Group launched Micro E-mini futures contracts on May 5, 2019 - These contracts allow market participants to gain exposure to price fluctuations in the S&P 500, Russell 2000, Dow Jones 30 and Nasdaq100 indices at a much lower cost than the existing e-mini futures. Depending on which clearing house you use, you can go long or short markets like the S&P500 and Nasdaq100 with as little as $50 of day-trading margin per contract, offering an effective way to hedge your overall portfolio

Part of the beauty of Micro Futures Trading is that all four of the Micro E-mini futures are 1/10 the size of their respective E-mini futures counterparts. This allows all traders futures exposure without the notional constraints of the larger contracts.

Some things to keep in mind for Micro Futures Contract Trading, is that while a single E -mini S&P 500 futures contract has a value of $50 per each point, the Micro E-mini S&P 500 futures contract has a value of $5 per each point.

While both the Micro E-mini S&P 500 and Micro E-mini Russell 2000 have multipliers of $5, the Micro E-mini Nasdaq-100 has a $2 multiplier, and the Micro E-mini Dow Jones Industrial Average has a 50-cent multiplier.

Example -If the S&P 500 Index is trading at 2750, the notional value of one Micro E-mini S&P 500 futures contract is $13,750.

Similar to the E-mini, the tick increments of the Micro E-mini S&P 500 are quoted in a quarter of one point, a one tick move in the Micro E-mini S&P 500 equates to $1.25. A one-point move, which is four ticks, is worth $5.

This equates to a smaller, more affordable way to access one of the most liquid equity futures in the world.

The tick increment of the other three Micro E-mini contracts vary according to the contract multiplier.

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Micro Futures Contract Sizes

Futures contracts come in three varieties: regular, mini, and micro.

The relationship between these three is as follows:

  • Regular = 1
  • Mini = 1/2
  • Micro = 1/10th

Mini futures are the most commonly traded for indexes, such as the S&P 500 or Nasdaq 100. However micro futures have become increasingly popular across all asset classes including currencies.

Normally, futures contracts control an enormous amount of notional currency. For example, one contract on the U.S. Dollar British Pound Sterling pair controls 62,500 pounds.

Micro currency futures contracts control 1/10th the amount of regular contracts, allowing more flexibility and control while maintaining the same capital efficiency.

With the expansion of micro futures contract trading into currencies, traders can create more comprehensive speculation and hedging strategies across multiple asset classes with different correlations.

MICRO WTI CRUDE OIL FUTURES
CONTRACT SIZE 0.1 ether
RATIO TO STANDARD CONTRACT 1/10
MINIMUM TICK/ PRICE FLUCTUATION $0.50 per ether
DOLLAR VALUE OF ONE TICK $0.05 per contract
PRODUCT CODE MET
SETTLEMENT Financial
EXPIRATION SCHEDULE 4:00 p.m. London time on the last Friday of the contract month.
TRADING HOURS CME: Sun-Fri: 5 p.m. to 4 p.m. Mon-Fri: 60-minute daily trading halt beginning at 4 p.m. CT
LISTING EXCHANGE CME
MICRO GOLD FUTURES
CONTRACT SIZE 10-oz
RATIO TO STANDARD CONTRACT 1/10
MINIMUM TICK/ PRICE FLUCTUATION $0.1 per troy ounce
DOLLAR VALUE OF ONE TICK $1.00 per contract
PRODUCT CODE MGC
SETTLEMENT Deliverable
EXPIRATION SCHEDULE 12:30 p.m. CT on the third last business day of the contract month.
TRADING HOURS COMEX: Sun-Fri: 5 p.m. to 4 p.m. Mon-Fri: 60-minute daily trading halt beginning at 4 p.m. CT
LISTING EXCHANGE COMEX
MICRO SILVER FUTURES
CONTRACT SIZE 1000 oz
RATIO TO STANDARD CONTRACT 1/5
MINIMUM TICK/ PRICE FLUCTUATION $0.01 per troy ounce
DOLLAR VALUE OF ONE TICK $10.00 per contract
PRODUCT CODE SIL
SETTLEMENT Deliverable
EXPIRATION SCHEDULE Trading terminates at 12:00 Noon CT on the third last business day of the month prior to the contract month.
TRADING HOURS COMEX: Sun-Fri: 5 p.m. to 4 p.m. Mon-Fri: 60-minute daily trading halt beginning at 4 p.m. CT
LISTING EXCHANGE COMEX
MICRO COPPER FUTURES
CONTRACT SIZE 2500 pounds
RATIO TO STANDARD CONTRACT 1/10
MINIMUM TICK/ PRICE FLUCTUATION $0.0005 per pound
DOLLAR VALUE OF ONE TICK $1.25 per contract
PRODUCT CODE MHG
SETTLEMENT Financially Settled
EXPIRATION SCHEDULE 12:30 p.m. CT on the third last business day of the contract month.
TRADING HOURS NYMEX: Sun-Fri: 5 p.m. to 4 p.m. Mon-Fri: 60-minute daily trading halt beginning at 4 p.m. CT
LISTING EXCHANGE NYMEX
MICRO INDICES
Micro E-mini S&P 500 Micro E-mini Nasdaq-100 Micro E-mini Russell 2000 Micro E-mini Dow
Contract Size $5 x S&P 500 Index $2 x Nasdaq-100 Index $5 x Russell 2000 Index $0.50 x DJIA Index
Trading Hours and Venue CME Globex:  Sun-Fri: 5pm to 4:00pm
Minimum Tick/ Price Fluctuation Outright 0.25 Index points 0.25 Index points 0.10 Index points 0.50 Index points
Dollar Value of One Tick $1.25 per contract. $0.50 per contract. $0.50 per contract. $0.50 per contract.
Product Code CME Globex: MES
CME ClearPort: MES
Clearing: MES
CME Globex: MNQ
CME ClearPort: MNQ
Clearing: MNQ
CME Globex: M2K
CME ClearPort: M2K
Clearing: M2K
CME Globex: MYM
CME ClearPort:MYM
Clearing: MYM
Contract Months Five months in the March Quarterly Cycle
H, M, U, Z, H (March, June, September, December, March)
Delivery Cash settlement to Final Settlement Price
Termination of Trading 8:30 a.m. CT on 3 rd Friday of contract delivery month
Trading in expiring futures terminates at 8:30 am on Last Day of Trading.
MICRO BITCOIN
CONTRACT SIZE 0.10 bitcoin
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 60- minute break each day beginning at 5:00 p.m. ET (4:00 p.m. CT)
CME ClearPort: 6:00 p.m. Sunday to 6:45 p.m. Friday ET (5:00 p.m. - 5:45 p.m. CT) with a 15-minute maintenance window between 6:45 p.m. - 7:00 p.m. ET (5:45 p.m. - 6:00 p.m. CT) Monday - Thursday.
MINIMUM PRICE FLUCTUATION Outrights: $5 per bitcoin = $0.50 per contract
Spreads: $1 per bitcoin = $0.10 per contract
PRODUCT CODE MBT
LISTING CYCLE Six consecutive monthly contracts inclusive of the nearest two December contracts.
MICRO TREASURY YIELD
MICRO 2-YEAR YIELD FUTURES MICRO 5-YEAR YIELD FUTURES MICRO 10-YEAR YIELD FUTURES MICRO 30-YEAR YIELD FUTURES
PRODUCT CODE 2YY 5YY 10Y 30Y
SETTLEMENT Cash-settled to BrokerTec 2-Year benchmark Cash-settled to BrokerTec 5-Year benchmark Cash-settled to BrokerTec 10-Year benchmark Cash-settled to BrokerTec 30-Year benchmark
PRICE CONVENTION US Treasury Yield
CONTRACT SIZE $10.00 DV01
TICK SIZE $1.00 (1/10 of 1 bp)
# OF EXPIRIES 2 nearest monthly contracts
TERMINATION Last Business Day of Month
MICRO FX
Micro AUD/USD Micro USD/CAD Micro USD/CHF Micro EUR/USD Micro GBP/USD Micro INR/USD Micro USD/JPY
UNDERLYING CURRENCY Australian dollars US Dollar US Dollar Euros British pounds Indian rupees US Dollar
CONTRACT SIZE 10,000 Aussie Dollars 10,000 US Dollars 10,000 US Dollars 12,500 Euros 6,250 Pounds 1M Rupee 10,000 US Dollars
RATIO TO STANDARD CONTRACT 1/10 1/10 1/10 1/10 1/10 1/10 1/10
MINIMUM TICK/ PRICE FLUCTUATION 0.0001 USD 0.0001 CAD per USD 0.0001 CHF per USD 0.0001 USD per EUR 0.0001 USD per GBP 0.01 USD per INR 0.01 JPY per USD
VALUE OF ONE TICK $1 per contract 1 CAD per contract 1 CHF per contract $1.25 per contract $0.625 per contract $1 per contract 100 JPY per contract
PRODUCT CODE M6A M6C M6S M6E M6B MIR M6J
SETTLEMENT Physical Physical Physical Physical Physical Financial Physical
TRADING HOURS Sunday - Friday 5:00 p.m. - 4:00 p.m. CT with a 60-minute break each day beginning at 4:00 p.m. CT

Micro Futures Contract Trading Options

Micro Bitcoin

Micro WTI Crude Oil

Micro Gold futures

Micro Silver futures

Micro Copper futures

Micro Treasury Yields

Micro Forex(FX) Futures

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