Micro S&P 500 Futures Contract | B3

Micro S&P 500 Futures Contract

  • Micro S&P 500 Futures Contract allows trading today future price forecasts of the stock portfolio represented by the S&P 500 Index, thus meeting the demand of local investors who seek exchange rate fluctuation and international index exposure with a lower investment amount for the S&P 500 Futures Contract. The size of this contract is given by the S&P 500 Index multiplied USD 2.50, which makes it 20 times smaller than the standard contract, the S&P Futures Contract, where each index point is multiplied by USD 50.00.

    The S&P 500 Index is calculated and published by Standard & Poor’s and is one of the most representative indices in the global financial market. It reflects a diversified Blue Chip stock portfolio of 500 leading US companies in major economic sectors, i.e., technology, finance, health, consumer goods, industry, materials and public services. As a result, the S&P 500 Index becomes a general indicator of the US stock market given tat the market value of the stocks in the index equals approximately 80% of the market capitalization of the companies traded on the NYSE.

  • UnderlyingS&P 500 Stock Index calculated by Standard and Poor’s
    Contract sizeS&P 500 Futures Contract multiplied by the index point value in Brazilian Reals, each point equals USD2.50.
    QuotationIndex points to two decimal places.
    Tick size0.25 index point.
    Round-lot1 contract.
    Last trading day3rd Friday of the contract month.
    Expiration date3rd Friday of the contract month, which coincides with the expiration date at the CME Group. If this day is a non-trading day on the benchmark exchange, the expiration date will be on the following trading session established by the CME Group.
    Contract monthsMarch, June, September and December.
    Settlement on expirationCash settlement.
    • Contract size reduction: 20 times smaller than the S&P 500 Futures Contract (Micro Contract: S&P 500 x USD2.50 and Standard Contract: S&P 500 x USD50.00).
    • Opportunities for new strategies: day-trade and arbitrage.
    • Diversified portfolio.
    • International exposure: Allows local investors to gain exposure to the US market.
    • Use of B3’s trading infrastructure and Clearinghouse by trading Brazilian contracts in U.S. Dollars and cash settlement in Brazilian Reals.