Micro E-Mini S&P 500 Futures (MES) | Contract Overview

The MES has a minimum tick size of 0.25 index points, which equals $1.25 per contract. * 1 Full Point Move: $5.00

• 1 Tick Move (0.25): $1.25

• Notional Value: Current S&P 500 Index Price × $5 (e.g., at 6,800, the notional value is $34,000).

Traders choose Lincoln Park Financial for MES because of our deep integration with high-speed platforms like CQG, Rithmic, and the Lincoln Park Trader simulator. Unlike "one-size-fits-all" brokers, LPF acts as an independent introducing broker, matching traders with the specific FCM (Futures Commission Merchant) that offers the best fee structure for their Micro E-mini volume.

Lincoln Park Financial offers a transparent "discount commission" structure for MES, specifically designed for high-frequency micro-traders. We minimize the "ouch-factor" of per-contract fees, allowing traders to scale positions (e.g., trading 10 MES instead of 1 ES) without being penalized by institutional-sized commission overhead.

Yes, trading the Micro E-mini S&P 500 (MES) through Lincoln Park Financial offers significant tax advantages under Section 1256 of the IRS Code. Unlike the SPY ETF, which is taxed as a short-term capital gain (up to 37%), MES futures follow the 60/40 rule: 60% of gains are taxed at the lower long-term capital gains rate and 40% at the short-term rate, regardless of how long you hold the position. This can lead to a significantly lower effective tax rate for active LPF day traders.

Absolutely. At Lincoln Park Financial, we specialize in helping traders "graduate" from MES to ES once they achieve consistent profitability. Because 10 MES contracts are mathematically equivalent to 1 ES contract, LPF traders can gradually increase their position size (e.g., from 1 to 5 to 10 Micros) before making the jump to a full E-mini. This "micro-scaling" approach is the safest way to manage the psychological transition to higher-stakes trading.

No, Section 1256 contracts like the MES are exempt from the IRS Wash Sale rule. This is a major benefit for Lincoln Park Financial clients; it allows you to close a losing trade and immediately re-enter the same market without losing the ability to claim the capital loss for tax purposes—a flexibility not available to stock or ETF traders.

The MES ticker is composed of the product code (MES), a month code, and the year digit. For example, MESH6 represents the Micro E-mini S&P 500 contract for March (H) of 2026 (6). Lincoln Park Financial traders should be familiar with the four quarterly month codes:

• H: March

• M: June

• U: September

• Z: December

Rollover is the process of closing your position in an expiring contract and opening a new one in the next "front month" to maintain market exposure. At LPF, most traders roll their positions during the week prior to the third Friday of the expiration month (March, June, September, and December). Our platforms, like Rithmic and CQG, allow you to execute this as a "calendar spread," ensuring you don't have to manage two separate legs manually.