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CME launches 55 stock-linked futures plus 22 micro contracts for majors
The contracts linked to companies including Apple and Nvidia trade nearly around the clock, with standard contracts covering 100 shares and Micro contracts covering 10.
CME has launched new single stock futures across 55 standard contracts and 22 Micro versions tied to heavily traded US companies, including Apple, Amazon, Alphabet, Meta, Microsoft, Nvidia and Tesla, positioning the products as another way to trade company exposure outside the regular equity session.
According to CryptoSlate, the futures trade for 23 hours during the Sunday to Friday futures week, with a one hour daily pause, and CME settles the contracts in cash based on the difference between the futures price and the stock price at expiration.
The exchange’s standard contracts represent 100 shares, while the Micro contracts represent 10 shares, and the resulting notional exposure depends on the futures price, with CryptoSlate illustrating how a $200 futures price translates into $20,000 notional exposure for the standard contract and $2,000 for the Micro.
CryptoSlate also notes this is not the first US attempt at single stock futures, citing a prior major launch in November 2002 supported by Chicago exchange operators and the eventual end of that earlier experiment with OneChicago stopping operations in September 2020.