SP500期货简介

SP500期货简介

1) Settle with cash, not underlying SP500 index
2) Value calculated with SP500 index * $250
3) Tick is every 0.10 SP500 point change
4) Expiration date Mar./June/Sept./Dec.

EMini-SP500期货简介

1) Settle with cash, not underlying SP500 index
2) Value calculated with SP500 index * $50
3) Tick is every 0.25 SP500 point change
4) Expiration date Mar./June/Sept./Dec.

Margin leverage in futures is totally different. In general, it's 10-16 times of futures' margin requirement. And there is no need to pay interest for margin leverage.

For example, a contract of SP500 1400 future is of $250 * 1400, however, by depositing e.g. 6.25% of the cash, an account can buy such a contact at

$250 * 1400 *6.25 = $21875

Also, the margin requirement in general is 75% of the initial margin. In the above example, that means

$250 * 1400 *6.25 * 75% = $16406.25

So if the position loses $21875 - $16406.25 = $5468.75, it's going to get a margin call. What does it mean? It means:

$5468.75 / $250 = 21.875 (SP500 index points)

That means if SP500 index moves by 21.875 on the undisired direction, the account is forced to close the position if no addition cash is deposited.

So SP500 points are very measurable.

EMini-SP500期货 was introduced in 1997 and its introduction made individual retail specualtors be able to trade with substantially less cash power.