Micro Index futures (MES, MNQ, MYM, M2K) are 1/10th the size of the standard E-mini contracts. CME Group launched them in May 2019, and they let traders take positions in the S&P 500, Nasdaq 100, Dow, and Russell 2000 with smaller capital requirements per tick. Micro Index Commission at Discount Trading is $0.20 or less per contract.
Micro Index futures were launched by CME Group in May 2019 to make equity index futures accessible to a wider range of traders. At 1/10th the size of their E-mini counterparts, Micro Index futures allow traders to build positions gradually, manage risk more precisely, and access the same markets with significantly less capital. Discount Trading offers some of the lowest Micro Index futures commission rates available - $0.20 or less per contractiExchange, clearing, and regulatory fees apply. - making these instruments extremely cost-effective for active traders.
The Micro S&P 500 (MES) is 1/10th the size of the E-mini S&P 500 (ES). It tracks the same S&P 500 index with the same tick structure but a $5 multiplier instead of $50. MES is the most popular Micro Index contract and is ideal for newer traders learning index futures, smaller accounts, or any trader who wants to fine-tune their position sizing.
| Specification | Details |
|---|---|
| Micro S&P 500 Futures (MES) | |
| Contract Size | $5 × S&P 500 Index |
| E-mini Equivalent | 1/10th of ES ($50 multiplier) |
| Tick Size | 0.25 index points = $1.25 per contract |
| Price Quote | Dollars per index point |
| Contract Months | Mar, Jun, Sep, Dec |
| Trading Hours | Sunday 5:00 PM – Friday 4:00 PM CT (with 60-min break daily at 4:00 PM) |
| Last Trading Day | Friday before the 3rd Saturday of the contract month; halts at 8:30 AM CT |
| Settlement Method | Cash Settled |
| CME Symbol | MES |
The Micro Nasdaq 100 (MNQ) is 1/10th the size of the E-mini Nasdaq (NQ). With a $2 multiplier, MNQ offers exposure to the tech-heavy Nasdaq 100 with significantly lower capital requirements. MNQ is popular with traders who want NQ volatility but with smaller dollar moves per tick.
| Specification | Details |
|---|---|
| Micro Nasdaq 100 Futures (MNQ) | |
| Contract Size | $2 × Nasdaq-100 Index |
| E-mini Equivalent | 1/10th of NQ ($20 multiplier) |
| Tick Size | 0.25 index points = $0.50 per contract |
| Price Quote | Dollars per index point |
| Contract Months | Mar, Jun, Sep, Dec |
| Trading Hours | Sunday 5:00 PM – Friday 4:00 PM CT (with 60-min break daily at 4:00 PM) |
| Last Trading Day | Friday before the 3rd Saturday of the contract month; halts at 8:30 AM CT |
| Settlement Method | Cash Settled |
| CME Symbol | MNQ |
The Micro Dow (MYM) tracks the Dow Jones Industrial Average at 1/10th the size of the full E-mini Dow (YM). With a $0.50 multiplier, MYM has the smallest dollar-per-tick value of the Micro Index suite, making it an excellent starting point for traders new to index futures.
| Specification | Details |
|---|---|
| Micro Dow Futures (MYM) | |
| Contract Size | $0.50 × DJIA Index |
| E-mini Equivalent | 1/10th of YM ($5 multiplier) |
| Tick Size | 1 index point = $0.50 per contract |
| Price Quote | Dollars per index point |
| Contract Months | Mar, Jun, Sep, Dec |
| Trading Hours | Sunday 5:00 PM – Friday 4:00 PM CT (with 60-min break daily at 4:00 PM) |
| Last Trading Day | Friday before the 3rd Saturday of the contract month; halts at 8:30 AM CT |
| Settlement Method | Cash Settled |
| CME Symbol | MYM |
The Micro E-mini Russell 2000 tracks 2,000 smaller US companies at 1/10th the size of the Mini Russell 2000 (RTY). M2K offers exposure to the small-cap segment of the US market at a fraction of the capital required by RTY.
| Specification | Details |
|---|---|
| Micro Russell 2000 Futures (M2K) | |
| Contract Size | $5 × Russell 2000 Index |
| E-mini Equivalent | 1/10th of RTY ($50 multiplier) |
| Tick Size | 0.10 index points = $0.50 per contract |
| Price Quote | Dollars per index point |
| Contract Months | Mar, Jun, Sep, Dec |
| Trading Hours | Sunday 5:00 PM – Friday 4:00 PM CT (with 60-min break daily at 4:00 PM) |
| Last Trading Day | Friday before the 3rd Saturday of the contract month; halts at 8:30 AM CT |
| Settlement Method | Cash Settled |
| CME Symbol | M2K |
Open an account at Discount Trading to trade the four Micro E-mini index contracts — MES, MNQ, MYM, and M2K — on CME's Globex platform.
