CME Group, the world’s largest and most diverse derivatives exchange, announced today that the multiplier for the S&P Financial SPCTR Index and the S&P Technology SPCTR Index futures contracts will each double to $250 times the index price beginning Monday, July 27. Along with the increase in the contract multiplier, the new minimum tick size will also double to $25.00 per contract. These contracts are listed with, and subject to, the rules and regulations of CME.
"Several large trading entities specifically requested that we increase the size of our Financial and Technology SPCTR contracts," said Scot Warren, CME Group managing director of Equity Products and Services. "With the renewed interest in financial sector stocks, and the underlying XLF Index in particular, these contracts will provide our clients a cost effective trading and risk management tool."
All other contract specifications remain the same. The all-electronic S&P Financial and Technology SPCTR index futures trade exclusively on CME Globex® virtually 23 hours a day.