About CME S&P 500 Futures

Contract Size
The size of a CME S&P 500^® futures contract is the contract’s multiplier ($250) times the current CME S&P 500 futures level. If the Index level is at 1400, for example, then the contract is worth:

$250 x 1400 = $350,000

The contract moves in ticks of 0.10 index points valued at $25 (futures calendar spreads: 0.05 index points = $12.50 contract).

The futures expire on a quarterly basis and are listed eight months out in the March quarterly cycle. These contracts trade on the CME floors during regular trading hours and are available electronically on the CME Globex^® platform during extended trading hours (ETH).

Underlying Index
The S&P 500 Index is a perhaps the most widely followed benchmark of stock market performance in the world. It is capitalization-weighted and float-adjusted index of 500 large-capitalization stocks traded on the NYSE, ASE and the Nasdaq National Market System. The Index represents the market value of all outstanding common shares of 500 firms listed (share price x shares outstanding). A change in the price of any one stock influences the Index in proportion to the relative market value of that firm's outstanding shares.

For more about the underlying Index, including a complete list of mid-cap and small-cap stocks represented by the Index, visit the Standard & Poor’s Web site.