CME Group E-mini S&P 500

E-mini S&P 500 Futures 	E-mini S&P 500 Futures
Contract Unit 	$50 x S&P 500 Index
Trading Hours 	CME Globex: Sunday - Friday 6:00 p.m. - 5:00 p.m. Eastern Time (ET) with trading halt 4:15 p.m. - 4:30 p.m.
BTIC: Sunday - Friday 6:00 p.m. - 4:00 p.m. ET
Clearport: Sunday - Friday 6:00 p.m. - 5:00 p.m. ET
 
TACO on CME Globex: Sunday - Friday 6:00 p.m. - 9:30 a.m. ET. Monday - Thursday 11:00 a.m. - 5:00 p.m. ET; no 11:00 a.m.- 5:00 p.m. ET session on Friday. Monday - Thursday 5:00 p.m. - 6:00 p.m. ET daily maintenance period.
 
TACO on Clearport: Sunday 6:00 p.m. - Monday 9:30 a.m. ET. Monday - Thursday 11:00 a.m. - 5:00 p.m. ET and 6:00 p.m. - 9:30 a.m. ET. Friday 11:00 a.m. - 5:00 p.m. ET. Monday - Thursday 5:00 p.m. - 6:00 p.m. ET daily maintenance period.
Minimum Price Fluctuation	Outright: 0.25 index points = $12.50
Calendar Spread: 0.05 index points = $2.50
BTIC: 0.05 index points = $2.50
TACO (ESQ): 0.05 index points = $2.50
Product Code 	CME Globex: ES
CME ClearPort: ES
Clearing: ES
BTIC: "EST","ESQ"
Listed Contracts 	Quarterly contracts (Mar, Jun, Sep, Dec) listed for 5 consecutive quarters
Settlement Method 	Financially Settled
Termination of Trading 	Trading terminates at 9:30 a.m. ET on the 3rd Friday of the contract month
BTIC trading terminates at 4:00 p.m. ET on the Thursday before the 3rd Friday of contract month
TACO trading terminates at 9:30 a.m. ET on the Thursday before the 3rd Friday of the contract month
Settlement Procdures 	Settlement Procedures
Position Limits 	CME Position Limits
Exchange Rulebook 	CME 358
Price Limit or Circuit 	Price Limits
Vendor Codes 	Quote Vendor Symbols Listing
E-mini S&P 500 Options 	E-mini S&P 500 Options 	E-mini S&P 500 Options
Contract Unit 	One E-mini S&P 500 futures contract 	One E-mini S&P 500 futures contract
Minimum Price Fluctuation 	Regular tick: 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 	Regular tick: 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
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
Trading Hours 	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: ES
CME ClearPort: ES
Clearing: ES 	CME Globex: ES
CME ClearPort: ES
Clearing: ES
Listed Contracts 	Quarterly contracts (Mar, Jun, Sep, Dec) listed for 4 consecutive quarters 	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. 	Trading terminates at 9:30 a.m. ET on the 3rd Friday of the contract quarter.
Position Limits 	CME Position Limits 	CME Position Limits
Exchange Rulebook 	CME 358 A 	CME 358 A
Price Limit or Circuit 	Price Limits 	Price Limits
Vendor Codes 	Quote Vendor Symbols Listing 	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	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
Exercise Procedure 	American Style. An option can be exercised until 6:30 p.m. ET on any business day the option is traded 	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.	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 	Deliverable
Underlying 	E-mini S&P 500 Futures 	E-mini S&P 500 Futures
E-mini S&P 500 Weekly Options 	E-mini S&P 500 Weekly Options 	E-mini S&P 500 Weekly Options 	
Contract Unit 	One E-mini S&P 500 futures contract 	One E-mini S&P 500 futures contract 	
Minimum Price Fluctuation 	Regular Tick: 0.25 = $12.50 per tick, for premium > 5.00
Reduced Tick: 0.05 = $2.50 per tick, for premium <= 5.00
CAB: 0.05 = $2.50 per tick 	Regular Tick: 0.25 = $12.50 per tick, for premium > 5.00
Reduced Tick: 0.05 = $2.50 per tick, for premium <= 5.00
CAB: 0.05 = $2.50 per tick 	
Price Quotation 	U.S. cents per pound 	U.S. cents per pound 	
Trading Hours 	CME Globex: Sunday - Friday 6:00 p.m. - 5:00 p.m. Eastern Time (ET) with trading halt 4:15 p.m. - 4:30 p.m.
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 	CME Globex: Sunday - Friday 6:00 p.m. - 5:00 p.m. Eastern Time (ET) with trading halt 4:15 p.m. - 4:30 p.m.
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: EW1,EW2,EW3,EW4
CME ClearPort: EW1,EW2,EW3,EW4
Clearing: EW1,EW2,EW3,EW4 	CME Globex: EW1,EW2,EW3,EW4
CME ClearPort: EW1,EW2,EW3,EW4
Clearing: EW1,EW2,EW3,EW4 	
Listed Contracts 	At any given time, four nearest weeks of EW1, EW2, and EW4 (Weeks 1, 2 & 4) and three nearest weeks of EW3 (Week 3) will be listed for trading 	At any given time, four nearest weeks of EW1, EW2, and EW4 (Weeks 1, 2 & 4) and three nearest weeks of EW3 (Week 3) will be listed for trading 	
Termination of Trading 	4:00 p.m. ET on Friday of the named week 	4:00 p.m. ET on Friday of the named week 	
Position Limits 	CME Position Limits 	CME Position Limits 	
Exchange Rulebook 	358A 	358A 	
Price Limit or Circuit 	Price Limits 	Price Limits 	Price Limits
Vendor Codes 	Quote Vendor Symbols Listing 	Quote Vendor Symbols Listing 	
Strike Price Listing Procedures	EW3 (Week 3)
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 listed: +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 
 
EW1, EW2 and EW4 (Week 1, 2 & 4)
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 listed: +10% to -25% of the prior day’s settlement price on the underlying future contract
5 index point integer multiples, when listed: +5% to -15% of the prior day’s settlement price on the underlying future contract	EW3 (Week 3)
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 listed: +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 
 
EW1, EW2 and EW4 (Week 1, 2 & 4)
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 listed: +10% to -25% of the prior day’s settlement price on the underlying future contract
5 index point integer multiples, when listed: +5% to -15% of the prior day’s settlement price on the underlying future contract	EW3 (Week 3)
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 listed: +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 
 
EW1, EW2 and EW4 (Week 1, 2 & 4)
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 listed: +10% to -25% of the prior day’s settlement price on the underlying future contract
5 index point integer multiples, when listed: +5% to -15% of the prior day’s settlement price on the underlying future contract
Exercise Procedure 	European Style. Exercisable only on expiration day. 	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.	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.	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.
Settlemnt Method 	Deliverable 	Deliverable 	
Underlying 	E-mini S&P 500 Futures 	E-mini S&P 500 Futures 	
E-mini S&P 500 EOM futures and options	E-mini S&P 500 EOM futures and options 	E-mini S&P 500 EOM futures and options
Contract Unit 	One E-mini S&P 500 futures contract 	One E-mini S&P 500 futures contract
Minimum Price Fluctuation 	Regular tick: 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 	Regular tick: 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
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
Trading Hours 	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: ES
CME ClearPort: ES
Clearing: ES 	CME Globex: ES
CME ClearPort: ES
Clearing: ES
Listed Contracts 	Quarterly contracts (Mar, Jun, Sep, Dec) listed for 4 consecutive quarters 	Quarterly contracts (Mar, Jun, Sep, Dec) listed for 4 consecutive quarters
Terminstion of Trading 	Trading terminates at 9:30 a.m. ET on the 3rd Friday of the contract quarter. 	Trading terminates at 9:30 a.m. ET on the 3rd Friday of the contract quarter.
Position Limits 	CME Position Limits 	CME Position Limits
Exchange Rulebook 	CME 358 A 	CME 358 A
Price Limit or Circuit 	Price Limits 	Price Limits
Vendor Codes 	Quote Vendor Symbols Listing 	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	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
Excercise Procedure 	American Style. An option can be exercised until 6:30 p.m. ET on any business day the option is traded 	American Style. An option can be exercised until 6:30 p.m. ET on any business day the option is traded
Settlememt 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.	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 Procedure 	Deliverable 	Deliverable
Underlying 	E-mini S&P 500 Futures 	E-mini S&P 500 Futures
== Notes ==
== Also See ==
CME Group stock index products
== References ==
CME Group Web site
Category:CME Group
E-mini S&P 500 Futures Contract Specs
Settlement Procedures
CME Position Limits
CME 358
Price Limits
Quote Vendor Symbols Listing
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