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FinanceCME launches single-stock futures on 55 US equities including SpaceX, Micron, enabling nearly 23-hour trading
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CME Group launched cash-settled single-stock futures on 55 U.S. equities, including SpaceX and Micron Technology, along with micro-sized contracts on 22 names. The contracts trade on CME's Globex platform from Sunday evening through Friday afternoon with a one-hour daily maintenance break, allowing nearly 24-hour trading. Standard contracts represent 100 shares, micro contracts 10 shares. CME says the products offer a simpler way to express bullish or bearish views than options, without time decay or changing implied volatility, and require only margin capital. Morgan Stanley noted over 35 retail partners targeting day-one readiness. The launch comes as perpetual futures on overseas exchanges pose a rising threat to traditional trading, with CFTC recently approving crypto-related 'perps' for Kalshi and Coinbase.
Source report
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Investors looking to wager on stocks such as SpaceX and Micron Technology now have a new tool: single-stock futures that trade for nearly 24 hours a day.
CME Group on Monday launched cash-settled single-stock futures on 55 U.S. equities, along with micro-sized contracts on 22 names. The move marks the exchange's push into a market designed to let investors take leveraged long or short positions around the clock.
Key Details
- Trading hours: Contracts trade on CME's Globex platform from Sunday evening through Friday afternoon, with a one-hour daily maintenance break.
- Contract sizes: Standard contracts represent 100 shares of the underlying stock; micro contracts represent 10 shares.
- Settlement: Cash-settled, with final settlement based on the stock's official closing price at expiration. Contracts do not represent ownership in the companies.
Featured Stocks
The lineup includes futures tied to:
- SpaceX — one of Wall Street's most closely watched recent IPOs
- Micron Technology
- Nvidia
- Tesla
- Apple
Industry Reaction
"Retail brokers have characterized the launch as the year's largest retail growth catalyst, with more than 35 retail partners targeting day one/week one readiness," Morgan Stanley analyst Michael Cyprys said in a note.
Product Design
CME said the products are designed to offer a simpler way to express bullish or bearish views than options. Unlike options, single-stock futures do not involve time decay or changing implied volatility, while requiring only a fraction of the capital needed because they are traded on margin.
The exchange said it may expand the lineup beyond the initial 55 stocks based on customer demand and its listing standards.
Market Context
Exchange stocks like CME have come under pressure this year as perpetual futures emerging on overseas exchanges are seen as a rising threat to traditional trading businesses, even though most are currently not legal in the U.S.
Stock Chart Icon CME, YTD
Kalshi and Coinbase were given the greenlight this year by the CFTC to offer cryptocurrency-related "perps" — futures contracts without an expiration date. The regulatory move was seen as foreshadowing a wider approval for these types of products on equities. Overseas equity perps were in the spotlight ahead of the SpaceX IPO, with international platforms like Hyperliquid offering perpetual futures in the Elon Musk space company ahead of its official debut.
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Source
US Top News and AnalysisWestern
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CME launches single stock futures enabling investors to trade SpaceX, Micron 23 hours a day