What are Micro E-mini S&P 500 Futures ?
Micro E-mini S&P 500 futures offer exposure to Standard & Poor’s 500 Index in a contract 1/10th the size of standard E-mini S&P 500 futures. The benchmark S&P index is comprised of 500 large-capitalization companies and is regarded as the best metric of large-cap American equities.
Launched in May of 2019 by the CME Group, Micro E-mini S&P 500 futures were introduced to offer lower barriers to entry for futures traders wishing to participate in US equity markets. This micro-sized contract mimics the full-size E-mini S&P 500 contract and the charts are nearly indistinguishable.
An impressive volume from the start
Gaining instant popularity, Micro E-mini futures volume exceeded 1 million contracts traded in less than 3 full days of trading. The chart below from the CME Group shows hourly Micro E-mini volume from their initial launch on the evening of May 5th 2019 to the morning of May 8th.
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