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Instruments

MES / ES — Micro and E-mini S&P 500

The Micro E-mini S&P 500 (MES) and E-mini S&P 500 (ES) are US equity index futures tracking the S&P 500 Index, traded on CME Group. MES is the smaller-sized version of the S&P 500 futures complex.

What it is

CME describes the Micro E-mini S&P 500 as a smaller-sized S&P 500 futures contract with a $5 multiplier and a 0.25 index-point minimum tick. It is designed to give smaller accounts exposure to S&P 500 futures with proportionally smaller position sizes than the E-mini.

How it fits the family

The S&P 500 futures complex includes the E-mini (ES) and the Micro E-mini (MES). The Micro contract offers a smaller per-point value than the E-mini, which changes position sizing, margin requirements and risk in kind.

Session context

S&P 500 futures trade in defined sessions referenced in Chicago time. Confirm the current trading hours, holidays and all contract terms on the official CME Group page before trading.