E-mini S&P 500 Overview - CME Group

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Capitalize on the around-the-clock liquidity of E-mini S&P 500 futures (ES), and take advantage of one of the most efficient and cost-effective ways to gain market exposure to the S&P 500 Index, a broad-based, capitalization-weighted index that tracks 500 of the largest companies of the US economy and a key indicator of the stock market’s health. With ES futures, you can take positions on S&P 500 performance electronically.

Capitalize on the around-the-clock liquidity of E-mini S&P 500 futures (ES), one of the most efficient and cost-effective ways to gain market exposure to the S&P 500 Index, a key indicator of the stock market’s health. With ES futures, you can take positions on S&P 500 performance electronically. Interested in learning more? Connect with a member of our team to see how ES futures can fit into your portfolio.

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Latest Equities news

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Features and benefits

Leading liquidity

Deep liquidity & tight bid-ask spreads can reduce your costs.

Central marketplace

Trade a global equity index portfolio from one marketplace.

Flexibility

Flexible execution gives you multiple ways to find liquidity.

Margin savings

Save on potential margin offsets with other equity index futures.

Safety and security

Central clearing helps mitigate your counterparty risk.

Futures leverage

Use leverage to trade a large contract value with a small amount.

NEW TRADING SIM, NEW TRADING CHALLENGES

Take your trading to the next level with our new Trading Simulator and get to know our range of futures contracts in our Trading Challenges.

EXPLORE THE BENEFITS OF TRADING FUTURES OVER S&P 500 ETFS.

Explore this product in depth

PRODUCTS

E-mini S&P 500 options

Enjoy greater choice and flexibility for trading E-mini S&P futures and options with more expiries and new enhancements, including the introduction of ES options blocks.

Learn more

EQUITY INDEX UPDATES: STAY UP-TO-DATE ON CME GROUP EQUITY PRODUCT DEVELOPMENTS

Compare E-mini S&P 500 with other trading methods

In nearly every trading scenario, ES futures offer a more cost-efficient way to manage S&P 500 exposure compared to ETFs.

• Pay no management fee when you trade ES futures vs. S&P 500 ETFs
• Fully-funded institutional investors can save 8.9 - 13.3bps trading ES vs. ETFs*
• Day traders can save between $80 - $119 using ES futures vs. ETFs over a one-day holding period*

• Nearly 24-hour access means no waiting for the ETF market open when market events (Brexit, U.S. elections) happen post-close
• ES futures offer significantly more daily liquidity, at 8x the value of all S&P 500 ETFs combined, including SPY, IVV and VOO*
• Diversify your risk versus other holdings in your portfolio

*All scenarios are hypothetical and should be treated as such. Data is as of October 31, 2016, and calculations are based on the framework found at cmegroup.com/thebigpicture.

ES futures give you an easier, faster, more flexible way to harness S&P 500 performance.

• Trade and track one ES future vs. 500 stocks to get nearly identical exposure
• Nearly 24-hour access means your hands aren’t tied when off-hour news and events occur
• ES gives you 60x buying power of cash stocks – less capital, to control a larger value

• Easily sell short with ES - no uptick rule or special requirements
• Spread trading vs. another sector like small caps takes less time, capital and trades

Key economic reports and factors that move markets

This monthly report shows changes in U.S. jobs, drives Fed policy and indicates economic growth.

These reports present the U.S. unemployment rate as a percentage. They drive Fed policy and indicate economy’s strength.

These updates list changes in earnings of publically traded companies, which can move the market.

The Federal Open Market Committee determines U.S. monetary policy and whether to move the key interest rate. It also drives stock market movements.

The Consumer Price Index measures inflation or cost-of-living changes through average price of a basket of goods and services.

These operations indicate the buying and selling of securities by U.S. central banks as a tool of monetary policy.

These reports track changes in oil and natural gas supplies. They also impact energy prices paid by consumers.

These reports track change in monthly raw volume of industrial goods produced.

Market Commentary

View the latest insights on trends in the Equities market.

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Courses

Take self-guided courses on E-mini S&P 500 futures and options products.

If you're new to futures, the courses below can help you quickly understand the E-mini S&P 500 market and start trading.

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Contact an Equity Index expert

Connect with a member of our expert Equity team for more information about our products.

First Name Last Name Business Email Location Please Select... UNITED STATES OF AMERICA CANADA AFGHANISTAN ALBANIA ALGERIA AMERICAN SAMOA ANDORRA ANGOLA ANGUILLA ANTARCTICA ANTIGUA AND BARBUDA ARGENTINA ARMENIA ARUBA AUSTRALIA AUSTRIA AZERBAIJAN BAHAMAS BAHRAIN BANGLADESH BARBADOS BELARUS BELGIUM BELIZE BENIN BERMUDA BHUTAN BOLIVIA BOSNIA AND HERZEGOVINA BOTSWANA BOUVET ISLAND BRAZIL BRITISH INDIAN OCEAN TERRITORY BRITISH VIRGIN ISLANDS BRUNEI DARUSSALAM BULGARIA BURKINA FASO BURUNDI CAMBODIA CAMEROON CAPE VERDE CAYMAN ISLANDS CENTRAL AFRICAN REPUBLIC CHAD CHILE CHINA CHRISTMAS ISLAND COCOS KEELING ISLANDS COLOMBIA COMOROS CONGO CONGO THE DEMOCRATIC REPUBLIC OF COOK ISLANDS COSTA RICA COTE D IVOIRE CROATIA CUBA CYPRUS CZECH REPUBLIC DENMARK DJIBOUTI DOMINICA DOMINICAN REPUBLIC EAST TIMOR ECUADOR EGYPT EL SALVADOR EQUATORIAL GUINEA ERITREA ESTONIA ETHIOPIA FALKLAND ISLANDS FAROE ISLANDS FIJI FINLAND FRANCE FRANCE METROPOLITAN FRENCH GUIANA FRENCH POLYNESIA FRENCH SOUTHERN TERRITORIES GABON GAMBIA GEORGIA GERMANY GHANA GIBRALTAR GREECE GREENLAND GRENADA GUADELOUPE GUAM GUATEMALA GUERNSEY GUINEA GUINEA BISSAU GUYANA HAITI HEARD AND MC DONALD ISLANDS HOLY SEE HONDURAS HONG KONG HUNGARY ICELAND INDIA INDONESIA IRAN ISLAMIC REPUBLIC OF IRAQ IRELAND ISRAEL ITALY JAMAICA JAPAN JERSEY JORDAN KAZAKSTAN KENYA KIRIBATI KOREA DEMOCRATIC REPUBLIC OF KOREA REPUBLIC OF KUWAIT KYRGYZSTAN LAO PEOPLES DEMOCRATIC REPUBLIC OF LATVIA LEBANON LESOTHO LIBERIA LIBYAN ARAB JAMAHIRIYA LIECHTENSTEIN LITHUANIA LUXEMBOURG MACAU MACEDONIA THE FORMER YUGOSLAV REPUBLIC OF MADAGASCAR MALAWI MALAYSIA MALDIVES MALI MALTA MARSHALL ISLANDS MARTINIQUE MAURITANIA MAURITIUS MAYOTTE MEXICO MICRONESIA FEDERATED STATES OF MOLDOVA REPUBLIC OF MONACO MONGOLIA MONTSERRAT MOROCCO MOZAMBIQUE MYANMAR NAMIBIA NAURU NEPAL NETHERLANDS NETHERLANDS ANTILLES NEW CALEDONIA NEW ZEALAND NICARAGUA NIGER NIGERIA NIUE NORFOLK ISLAND NORTHERN MARIANA ISLANDS NORWAY OMAN PAKISTAN PALAU PALESTINIAN TERRITORY OCCUPIED PANAMA PAPUA NEW GUINEA PARAGUAY PERU PHILIPPINES PITCAIRN POLAND PORTUGAL PUERTO RICO QATAR REUNION ROMANIA RUSSIAN FEDERATION RWANDA SAINT HELENA SAINT KITTS AND NEVIS SAINT LUCIA SAINT PIERRE AND MIQUELON SAINT VINCENT AND THE GRENADINES SAMOA SAN MARINO SAO TOME AND PRINCIPE SAUDI ARABIA SENEGAL SEYCHELLES SIERRA LEONE SINGAPORE SLOVAKIA SLOVENIA SOLOMON ISLANDS SOMALIA SOUTH AFRICA SOUTH GEORGIA AND SOUTH SANDWICH ISLANDS SPAIN SRI LANKA SUDAN SURINAME SVALBARD AND JAN MAYEN SWAZILAND SWEDEN SWITZERLAND SYRIAN ARAB REPUBLIC TAIWAN TAJIKISTAN TANZANIA UNITED REPUBLIC OF THAILAND TOGO TOKELAU TONGA TRINIDAD AND TOBAGO TUNISIA TURKEY TURKMENISTAN TURKS AND CAICOS ISLANDS TUVALU UGANDA UKRAINE UNITED ARAB EMIRATES UNITED KINGDOM UNITED STATES MINOR OUTLYING ISLANDS UNITED STATES VIRGIN ISLANDS URUGUAY UZBEKISTAN VANUATU VENEZUELA VIETNAM WALLIS AND FUTUNA ISLANDS WESTERN SAHARA YEMEN YUGOSLAVIA ZAMBIA ZIMBABWE Job Role Please Select... Accounting/Finance Broker Clearing Consultant Executive Financial Advisor/Registered Investment Advisor Independent Trader/Investor Legal/Compliance Market Data Marketing Operations Portfolio Manager Professor/Educator Research Analyst/Professional Risk Manager/Middle Office Sales Student Supply Chain Management Technology Trading/Investing Treasurer Other Other Job Role (Please Specify) Company Type Please Select... Agriculture Company/Producer Asset Manager/Family Office/Investment Advisory Bank Broker/FCM Consulting/Financial Advisory Firm Consumer Goods and Services/Airline/Construction Energy Company/Producer/Utility Exchange FinTech Government/Regulator Hedge Fund/CTA Independent Software Vendor Independent Trader/Investor Index Service Industry Trade Association Insurance Company Market Data Vendor Media Metals Company/Producer/Mining Pension Fund/Endowment Proprietary Trading Firm Third Party/Vendor Fund Administrator University/Education Other Other Company Type (Please Specify) Company Name Message (Optional) I have read and understand the Privacy Policy. I have read and agree the Terms of Service and Cookie Policy. Yes. I would like to receive communications regarding CME Group products, services, & events. I understand that I can unsubscribe at any time. By registering, I agree to the processing of my personal data in accordance with the CME Group Privacy Policy. (Optional) question or comment

Talk to a team member

We are here to help. Talk to a dedicated team member to ask questions, get data, get connected, and get started with E-mini S&P 500 contracts.

First Name Last Name Business Email Location Please Select... UNITED STATES OF AMERICA CANADA AFGHANISTAN ALBANIA ALGERIA AMERICAN SAMOA ANDORRA ANGOLA ANGUILLA ANTARCTICA ANTIGUA AND BARBUDA ARGENTINA ARMENIA ARUBA AUSTRALIA AUSTRIA AZERBAIJAN BAHAMAS BAHRAIN BANGLADESH BARBADOS BELARUS BELGIUM BELIZE BENIN BERMUDA BHUTAN BOLIVIA BOSNIA AND HERZEGOVINA BOTSWANA BOUVET ISLAND BRAZIL BRITISH INDIAN OCEAN TERRITORY BRITISH VIRGIN ISLANDS BRUNEI DARUSSALAM BULGARIA BURKINA FASO BURUNDI CAMBODIA CAMEROON CAPE VERDE CAYMAN ISLANDS CENTRAL AFRICAN REPUBLIC CHAD CHILE CHINA CHRISTMAS ISLAND COCOS KEELING ISLANDS COLOMBIA COMOROS CONGO CONGO THE DEMOCRATIC REPUBLIC OF COOK ISLANDS COSTA RICA COTE D IVOIRE CROATIA CUBA CYPRUS CZECH REPUBLIC DENMARK DJIBOUTI DOMINICA DOMINICAN REPUBLIC EAST TIMOR ECUADOR EGYPT EL SALVADOR EQUATORIAL GUINEA ERITREA ESTONIA ETHIOPIA FALKLAND ISLANDS FAROE ISLANDS FIJI FINLAND FRANCE FRANCE METROPOLITAN FRENCH GUIANA FRENCH POLYNESIA FRENCH SOUTHERN TERRITORIES GABON GAMBIA GEORGIA GERMANY GHANA GIBRALTAR GREECE GREENLAND GRENADA GUADELOUPE GUAM GUATEMALA GUERNSEY GUINEA GUINEA BISSAU GUYANA HAITI HEARD AND MC DONALD ISLANDS HOLY SEE HONDURAS HONG KONG HUNGARY ICELAND INDIA INDONESIA IRAN ISLAMIC REPUBLIC OF IRAQ IRELAND ISRAEL ITALY JAMAICA JAPAN JERSEY JORDAN KAZAKSTAN KENYA KIRIBATI KOREA DEMOCRATIC REPUBLIC OF KOREA REPUBLIC OF KUWAIT KYRGYZSTAN LAO PEOPLES DEMOCRATIC REPUBLIC OF LATVIA LEBANON LESOTHO LIBERIA LIBYAN ARAB JAMAHIRIYA LIECHTENSTEIN LITHUANIA LUXEMBOURG MACAU MACEDONIA THE FORMER YUGOSLAV REPUBLIC OF MADAGASCAR MALAWI MALAYSIA MALDIVES MALI MALTA MARSHALL ISLANDS MARTINIQUE MAURITANIA MAURITIUS MAYOTTE MEXICO MICRONESIA FEDERATED STATES OF MOLDOVA REPUBLIC OF MONACO MONGOLIA MONTSERRAT MOROCCO MOZAMBIQUE MYANMAR NAMIBIA NAURU NEPAL NETHERLANDS NETHERLANDS ANTILLES NEW CALEDONIA NEW ZEALAND NICARAGUA NIGER NIGERIA NIUE NORFOLK ISLAND NORTHERN MARIANA ISLANDS NORWAY OMAN PAKISTAN PALAU PALESTINIAN TERRITORY OCCUPIED PANAMA PAPUA NEW GUINEA PARAGUAY PERU PHILIPPINES PITCAIRN POLAND PORTUGAL PUERTO RICO QATAR REUNION ROMANIA RUSSIAN FEDERATION RWANDA SAINT HELENA SAINT KITTS AND NEVIS SAINT LUCIA SAINT PIERRE AND MIQUELON SAINT VINCENT AND THE GRENADINES SAMOA SAN MARINO SAO TOME AND PRINCIPE SAUDI ARABIA SENEGAL SEYCHELLES SIERRA LEONE SINGAPORE SLOVAKIA SLOVENIA SOLOMON ISLANDS SOMALIA SOUTH AFRICA SOUTH GEORGIA AND SOUTH SANDWICH ISLANDS SPAIN SRI LANKA SUDAN SURINAME SVALBARD AND JAN MAYEN SWAZILAND SWEDEN SWITZERLAND SYRIAN ARAB REPUBLIC TAIWAN TAJIKISTAN TANZANIA UNITED REPUBLIC OF THAILAND TOGO TOKELAU TONGA TRINIDAD AND TOBAGO TUNISIA TURKEY TURKMENISTAN TURKS AND CAICOS ISLANDS TUVALU UGANDA UKRAINE UNITED ARAB EMIRATES UNITED KINGDOM UNITED STATES MINOR OUTLYING ISLANDS UNITED STATES VIRGIN ISLANDS URUGUAY UZBEKISTAN VANUATU VENEZUELA VIETNAM WALLIS AND FUTUNA ISLANDS WESTERN SAHARA YEMEN YUGOSLAVIA ZAMBIA ZIMBABWE Job Role Please Select... Accounting/Finance Broker Clearing Consultant Executive Financial Advisor/Registered Investment Advisor Independent Trader/Investor Legal/Compliance Market Data Marketing Operations Portfolio Manager Professor/Educator Research Analyst/Professional Risk Manager/Middle Office Sales Student Supply Chain Management Technology Trading/Investing Treasurer Other Other Job Role (Please Specify) Company Type Please Select... Agriculture Company/Producer Asset Manager/Family Office/Investment Advisory Bank Broker/FCM Consulting/Financial Advisory Firm Consumer Goods and Services/Airline/Construction Energy Company/Producer/Utility Exchange FinTech Government/Regulator Hedge Fund/CTA Independent Software Vendor Independent Trader/Investor Index Service Industry Trade Association Insurance Company Market Data Vendor Media Metals Company/Producer/Mining Pension Fund/Endowment Proprietary Trading Firm Third Party/Vendor Fund Administrator University/Education Other Other Company Type (Please Specify) Company Name Message (Optional) I have read and understand the Privacy Policy. I have read and agree the Terms of Service and Cookie Policy. Yes. I would like to receive communications regarding CME Group products, services, & events. I understand that I can unsubscribe at any time. By registering, I agree to the processing of my personal data in accordance with the CME Group Privacy Policy. (Optional) question or comment

About E-mini S&P 500

An electronically traded futures contract one fifth the size of standard S&P futures, E-mini S&P 500 futures and options are based on the underlying Standard & Poor’s 500 stock index. Made up of 500 individual stocks representing the market capitalizations of large companies, the S&P 500 Index is a leading indicator of large-cap U.S. equities. 

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Dividend Futures Term Structure Tool

Explore the market's view of S&P 500 expected dividends on a quarterly and annual basis. Then analyze changes in dividend term structure across multiple points in time.

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QUARTERLY EQUITY INSIGHTS REPORT: READ LATEST ISSUE

Equity Total Cost Analysis Tool

Analyze the all-in costs of replicating the S&P 500 by trading Equity Index futures versus ETFs.

Options Expiration Calendar

Inform your roll strategy with daily updates and analytics on roll activity in Cryptocurrency futures.

Dividend Futures Term Structure Tool

Explore the market's view of S&P 500 expected dividends on a quarterly and annual basis. Then analyze changes in dividend term structure across multiple points in time.

Looking for more? Explore our additional resources

Products

Micro E-mini futures E-mini S&P 500 ESG futures Equity Index Dividend futures AIR Total Return futures Options on futures

Resources

Trading resources Expiration calendars BTIC/Block Liquidity Providers Equity Index Product Insights Report View the latest Equity Insights Report

QUARTERLY EQUITY INSIGHTS REPORT: READ LATEST ISSUE

Equity Total Cost Analysis Tool

Analyze the all-in costs of replicating the S&P 500 by trading Equity Index futures versus ETFs.

Options Expiration Calendar

Inform your roll strategy with daily updates and analytics on roll activity in Cryptocurrency futures.

Dividend Futures Term Structure Tool

Explore the market's view of S&P 500 expected dividends on a quarterly and annual basis. Then analyze changes in dividend term structure across multiple points in time.

Looking for more? Explore our additional resources

Products

Micro E-mini futures E-mini S&P 500 ESG futures Equity Index Dividend futures AIR Total Return futures Options on futures

Resources

Trading resources Expiration calendars BTIC/Block Liquidity Providers Equity Index Product Insights Report View the latest Equity Insights Report

QUARTERLY EQUITY INSIGHTS REPORT: READ LATEST ISSUE

Equity Total Cost Analysis Tool

Analyze the all-in costs of replicating the S&P 500 by trading Equity Index futures versus ETFs.

Options Expiration Calendar

Inform your roll strategy with daily updates and analytics on roll activity in Cryptocurrency futures.

Dividend Futures Term Structure Tool

Explore the market's view of S&P 500 expected dividends on a quarterly and annual basis. Then analyze changes in dividend term structure across multiple points in time.

Looking for more? Explore our additional resources

Products

Micro E-mini futures E-mini S&P 500 ESG futures Equity Index Dividend futures AIR Total Return futures Options on futures

Resources

Trading resources Expiration calendars BTIC/Block Liquidity Providers Equity Index Product Insights Report View the latest Equity Insights Report

QUARTERLY EQUITY INSIGHTS REPORT: READ LATEST ISSUE

Equity Total Cost Analysis Tool

Analyze the all-in costs of replicating the S&P 500 by trading Equity Index futures versus ETFs.

Options Expiration Calendar

Inform your roll strategy with daily updates and analytics on roll activity in Cryptocurrency futures.

Dividend Futures Term Structure Tool

Explore the market's view of S&P 500 expected dividends on a quarterly and annual basis. Then analyze changes in dividend term structure across multiple points in time.

Looking for more? Explore our additional resources

Products

Micro E-mini futures E-mini S&P 500 ESG futures Equity Index Dividend futures AIR Total Return futures Options on futures

Resources

Trading resources Expiration calendars BTIC/Block Liquidity Providers Equity Index Product Insights Report View the latest Equity Insights Report

QUARTERLY EQUITY INSIGHTS REPORT: READ LATEST ISSUE

Equity Total Cost Analysis Tool

Analyze the all-in costs of replicating the S&P 500 by trading Equity Index futures versus ETFs.

Options Expiration Calendar

Inform your roll strategy with daily updates and analytics on roll activity in Cryptocurrency futures.

Dividend Futures Term Structure Tool

Explore the market's view of S&P 500 expected dividends on a quarterly and annual basis. Then analyze changes in dividend term structure across multiple points in time.

Looking for more? Explore our additional resources

Products

Micro E-mini futures E-mini S&P 500 ESG futures Equity Index Dividend futures AIR Total Return futures Options on futures

Resources

Trading resources Expiration calendars BTIC/Block Liquidity Providers Equity Index Product Insights Report View the latest Equity Insights Report

QUARTERLY EQUITY INSIGHTS REPORT: READ LATEST ISSUE

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