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Contract specs, tick value, trading hours and margin requirements for E-mini S&P 500 futures, from an NFA member futures broker in Chicago.
Quick answer: E-mini S&P 500 futures (symbol ES) are CME Group contracts valued at $50 times the S&P 500 Index. The minimum tick is 0.25 index points, or $12.50 per contract. ES trades on CME Globex Sunday to Friday, 5:00 p.m. to 4:00 p.m. CT, with a daily halt from 4:00 p.m. to 5:00 p.m. CT, and settles in cash each quarter.
E-mini S&P 500 futures (ES) are cash settled equity index futures that track the performance of the S&P 500 Index. Each ES contract has a value of $50 times the S&P 500 Index, meaning a 1 point move in ES equals $50 per contract.
ES futures trade nearly 24 hours per day through CME Group and are widely used by day traders, institutional traders, and portfolio managers for speculation, hedging, and managing U.S. equity market exposure.
ES
CME Globex
$50 x index
S&P 500 Index
$12.50
0.25 index points
5:00 p.m. to 4:00 p.m. CT
Sunday to Friday, halt 4:00 to 5:00 p.m. CT
Mar, Jun, Sep, Dec
H, M, U, Z
Cash settled
Third Friday of the contract month
| Product | E-Mini S&P 500 Futures |
|---|---|
| Futures Contract Symbol | ES |
| Exchange | CME |
| Contract Size | $50 x S&P 500 Index |
| Trading Hours | Sunday to Friday: 5:00 PM to 4:00 PM CT (Daily break: 4:00 PM to 5:00 PM CT) |
| Minimum Price Fluctuation | $12.50 per contract (0.25 × $50) |
| Contract Months | Mar (H), Jun (M), Sep (U), Dec (Z) |
| Settlement Method | Cash settled, USD (index future) |
| Exchange Fees | $1.40/contract |
Official Exchange Source: CME Group E-mini S&P 500 Contract Specifications
The above information is derived from sources believed to be accurate. It is provided without guarantees and is subject to change without notice.
View day trading margins across all index benchmarks on our futures margins page, explore transparent broker commissions, or review sister contracts including Micro E-mini S&P 500 (MES), E-mini Nasdaq 100 (NQ), and E-mini Dow (YM).
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The E-mini S&P 500 is the CME Group futures contract on the S&P 500 Index, a value weighted index of about 500 stocks. Traders shorten it to emini S&P, e mini S&P, ES mini or mini ES. CME Group explains that the E-mini is one fifth the size of the standard S&P 500 futures contract, which is where the “mini” name comes from.
Each ES contract is $50 times the index. The minimum tick is 0.25 index points, equal to $12.50 per contract, so one full point equals $50. The Micro E-mini S&P 500 (MES) is $5 times the index, so the same 0.25 point tick equals $1.25. To see how exchange, clearing and platform costs add up for your trading, you can request a custom commission quote.
ES futures are listed quarterly in March (H), June (M), September (U) and December (Z). They are cash settled to the Special Opening Quotation of the S&P 500 Index on the third Friday of the contract month. Traders who want to keep a position open usually roll into the next quarterly contract before expiration. Margin can change during that time, and our futures margin requirements page explains how day and overnight margins work.
Speak with our experienced futures brokers at 312-500-4730 to discuss how we can service your futures trading needs.
