CME Group, the world's leading derivatives marketplace, today announced that Micro E-mini Equity Index futures surpassed 2 billion contracts traded across all four indices on March 14.
Micro E-mini Equity Index futures became available for trading across four U.S. indices – S&P 500, Nasdaq-100, Russell 2000 and Dow Jones Industrial Average – in May of 2019.
"At just over three years old, Micro E-mini Equity Index futures have quickly established themselves as some of the most actively traded and deeply liquid equity index products at CME Group," said
Tim McCourt, Global Head of Equity and FX Products at CME Group. "At one-tenth the size of our benchmark E-mini equity index contracts, these micro-sized futures allow market participants to hedge or trade with enhanced flexibility around major market-moving events by executing trading strategies more nimbly and scaling index exposure up or down."
"For generations, the S&P 500 has been widely regarded as the best single gauge of the U.S. equity market. The first index-linked products such as exchange-traded funds, futures, and options in the U.S. were based on S&P Dow Jones Indices, and the index remains a leader by index-linked assets to this day," said
Tim Brennan, Head of Capital Markets at S&P Dow Jones Indices. "We congratulate CME Group for reaching another significant market milestone which reinforces the ongoing strength of the S&P 500 and its highly liquid ecosystem and demonstrates the indispensable role independent and transparent benchmarks play in the capital markets."
"Nasdaq congratulates CME Group on reaching the 2 billion contracts trading milestone," said
Sean Wasserman, Vice President and Global Head of Index & Advisor Solutions at Nasdaq. "Our partnership with CME Group is founded on developing innovative products to help investors manage risk and meet investment objectives based on the Nasdaq-100, representing the world's most innovative companies playing an important role in our society and economy."
"FTSE Russell congratulates CME Group on reaching this significant milestone of 2 billion contracts traded across its Micro E-mini derivatives complex," said
Shawn Creighton, Director of Index Derivatives Solutions for FTSE Russell. "As our valued, long-term partner, we are proud to have supported CME Group in such an achievement and look forward to continuing our collaborative work on growing the Russell 2000 product suite. Since its introduction in 1984, the Russell 2000 Index has been widely viewed as the leading benchmark for small cap performance, serving as the basis of investable products. The Micro E-Mini Russell 2000 futures and options suite provides investors access to highly liquid and efficient U.S. small cap equity risk management tools."
At their launch, Micro E-mini Equity Index futures contracts became one of the most successful new product launches in CME Group's nearly 180-year history. Since then, due to the ongoing, strong support of clients, index partners, and the broker and intermediary communities, these contracts continue their tremendous growth trajectory. Additional highlights include:
- 2.73 million contracts in average daily volume in 2023-to-date
- 20% of volume occurs outside of U.S. trading hours
- More than 324 firms and 172,000 unique accounts have traded these contracts in the last year
For more information on Micro E-mini Equity Index products, please visit: www.cmegroup.com/microeminis.