Six new E-mini Sector Index futures are now available for trading.

• E-mini S&P Regional Banks Select Industry futures
• E-mini S&P Insurance Select Industry futures
• E-mini S&P Biotechnology Select Industry futures
• E-mini S&P Oil & Gas Exploration & Production Select Industry futures
• E-mini S&P Retail Select Industry futures
• E-mini PHLX Semiconductor Sector Index futures

  Back to Top

The underlying indices for the above future are respectively as follows:

• S&P Regional Banks Select Industry Index
• S&P Insurance Select Industry Index
• S&P Biotechnology Select Industry Index
• S&P Oil & Gas Exploration & Production Select Industry Index
• S&P Retail Select Industry Index
• PHLX Semiconductor Sector Index

The S&P Select Industry Index methodology can be found here

The PHLX Semiconductor Sector Index can be found here

  Back to Top

These products are not based on the same methodology as the S&P Select Sector Indices (upon which CME Group has E-mini Select Sector futures already listed). The new S&P Select Industry Indices measure the performance of stocks comprising specific Global Industry Classification Standard (GICSÒ ) sub-industries or groups of sub-industries. Membership is based on a company’s GICS classification, as well as liquidity and market capitalization requirements. The indices are equal or capped market capitalization weighted, as defined in Index Construction.

  Back to Top

CME Group’s existing Sector futures product suite, which includes the E-mini Select Sectors Index futures, Dow Jones Real Estate Index futures, and E-mini Nasdaq Biotech Index futures, have been growing significantly over the last few years and are trading at a record ADV so far in 2022 versus prior years.¹

To complement this growing liquidity pool, participants have been asking for additional sector-based index futures to be made available to further broaden the range of sector futures offered to clients to risk manage their needs. When the additional E-mini Sector Index futures launch on August 8, pending regulatory review, a total of 19 Equity Index Sector futures will be available.

  Back to Top

Yes, these contracts are eligible for outright block trades, derived block trades, as well as BTIC block trades. 

Note the minimum price increment for outright block trades and derived block trades is one cent. The minimum price increment for BTIC block will conform to the minimum price increment as stated in the individual contract specifications. Please see the latest Rule 526 MRAN here.

  Back to Top

The minimum block size is 50.

  Back to Top

Yes.  As CME Group future contracts, these additional sector index futures are eligible for Exchange For Related Position (EFRP) trades. They can be utilized in a privately negotiated EFP trade where the physical side can be a related ETF.  For more questions on EFPs, please see the latest Rule 538 MRAN here. 

  Back to Top

For product codes and tickers for E-mini S&P Select Sector futures, view the FAQ.

  Back to Top

The E-mini S&P Select Sector Industry futures and the PHLX Semiconductor Sector Index future settle the same way as the other equity index futures listed on our exchanges. On expiration day, typically the third Friday of the quarterly contract month, the expiring equity index futures will settle to the Special Opening Quotation (SOQ) of the respective underlying index, which is calculated with the official opening price of each constituent in the index. The same methodology is used for the E-mini S&P 500 and other popular U.S. equity index futures.

  Back to Top

The margin requirements below are in line with other equity index futures listed at CME Group exchanges. Note that CME Clearing may change the collateral requirements without advance notice.

Learn more about margin requirements here. 

  Back to Top

1. Source CME data and data up to 17 June 2022.

  Back to Top