E-Mini Dow Jones Futures Trading - Get latest E-Mini Dow Jones futures prices, charts, breaking news & E-Mini Dow Jones futures contract specifications.
|E-Mini DJIA Futures
YMZ19 / Dec 19 / CBOTM
Disclaimer: This material is of opinion only and does not guarantee any profits. These are risky markets and only risk capital should be used. Past performances are not necessarily indicative of future results.
|Contract Specification||E-Mini Dow Jones Futures|
|Price Quotation||U.S. Dollars and Cents|
|CME Globex Hours||MON-THURS: 5:00 p.m.-3:15 p.m. & 3:30 p.m.-4:30 p.m. (Daily maintenance shutdown 4:30 p.m.-5:00 p.m.) SUN: 5:00 p.m.-3:15 p.m.|
|Minimum Fluctuation||The price of mini-sized Dow futures shall be quoted in points. One point equals $5.00. The minimum price fluctuation shall be one point per contract. Contracts shall not be made on any other price basis.|
|Expiration Date||Futures trading shall terminate at the regularly scheduled start of trading at the NYSE on the day scheduled for the determination of the Final Settlement Day.
After trading in contracts for future delivery in the current delivery month has ceased, outstanding contracts for such delivery shall be liquidated by cash settlement as prescribed in Rule 27103.
|Listed Contracts||Four months in the March Quarterly Cycle (Mar, Jun, Sep, Dec)|
|Daily Price Limits||Daily price limits and trading halts of the CBOT DJIA Index ($5 Multiplier) futures contract shall be coordinated with trading halts of the underlying stocks listed for trading in the securities markets.
For purposes of this rule, the primary contract expiration month for CBOT DJIA Index ($5 Multiplier) futures contracts shall be defined as the futures contract that trades in the lead month configuration. Exchange staff shall have the responsibility of determining whether the primary contract expiration month is limit bid or limit offered.
For the first day of trading in a newly listed contract expiration month, there will be an implied previous business day’s settlement price, created by the Exchange for the sole purpose of establishing price limits. The implied settlement price will be created by extrapolating the annualized percentage carry between the two contract months immediately prior to the newly listed contract.
|Price Limits||For each calendar quarter, there shall be three successive price limits: Level 1, Level 2, and Level 3. The limit thresholds that define Levels 1, 2, and 3 shall be calculated at the beginning of the pertinent calendar quarter, using the average daily closing value of the DJIA for the calendar month prior to the beginning of such calendar quarter. The Level 1 limit threshold shall equal 10% of such average daily closing value, the Level 2 limit threshold shall equal 20% of such average daily closing value, and the Level 3 limit threshold shall equal 30% of such average daily closing value. Each limit threshold shall be rounded to the nearest fifty DJIA index points.
These three limit thresholds, so computed, shall remain in effect throughout the pertinent calendar quarter, until the next calculation. These limit thresholds shall be used to calculate price limits for each trading session within the pertinent calendar quarter, as follows:
Level 1 shall equal the settlement price of the preceding regular trading session minus the Level 1 limit threshold.
Level 2 shall equal the settlement price of the preceding regular trading session minus the Level 2 limit threshold.
Level 3 shall equal the settlement price of the preceding regular trading session minus the Level 3 limit threshold.
|Price Limits During Regular Trading Hours||The following price limits and trading halts shall apply to open outcry and electronic trading, in the primary contract expiration month only, during the Exchange’s regular trading hours. For purposes of this rule, "regular trading hours" are defined for CBOT DJIA Index ($5 Multiplier) futures to begin with the time of the open for open outcry trading in DJIA futures, and to end with the later of the time of the close of open outcry trading, or the conclusion of any daytime electronic trading session that is part of the same trading day.
(a) Level 1:
(b) Level 2:
(c) Level 3:
|Trading Halts||If there is an NYSE Rule 80B trading halt declared in the primary securities market, trading shall be halted. Once trading in the primary securities market resumes after an NYSE Rule 80B trading halt, trading on the CBOT DJIA (DJIA) Index ($5 Multiplier) futures contract shall resume.
If an NYSE Rule 80B trading halt becomes inapplicable, the corresponding Price Limit shall likewise become inapplicable. E.g., if an NYSE Rule 80B trading halt, triggered by a 10% or a 20% decline in the Dow Jones Industrial Average, has been declared in the primary securities market, and trading in the primary securities market has recommenced, then the 10.0% or 20.0% Price Limits shall become inapplicable, respectively. E.g., when the NYSE Rule 80B 10.0% price limit provisions are suspended after 2:30 p.m. Eastern time, then the 10.0% Price Limit shall become inapplicable. Trading on the CBOT DJIA (DJIA) Index ($5 Multiplier) futures contract shall continue and the next applicable Price Limit shall apply.
|Opening Time||If either a trading halt was in effect or the primary futures contract was locked at a limit at the close of trading, then the opening time of trading on GLOBEX® shall be delayed until 6:00 p.m.
During Electronic Trading Hours (ETH), there shall be no trading of CBOT DJIA Index ($5 Multiplier) futures at a price more than the 5.0% Price Limit above or below the Reference RTH Price. If the market is limit bid or limit offered (15) minutes prior to the opening of the RTH, and remains limit bid or limit offered five (5) minutes prior to the opening of the RTH, there shall be a trading halt in effect until the commencement of Regular Trading hours (RTH). During the trading halt, the Exchange shall provide an indicative opening price for the re- opening of trading on GLOBEX, if applicable, pursuant to Rule 573. Once RTH commences, the next applicable trading limit shall be in effect.
The 5.0% Price Limit shall be calculated as one-half of the Level 1 or 10% price limit rounded down to the nearest integral multiple of 10 index points.
|Position Limits||In accordance with Rule 559., Position Limits and Exemptions, no person shall own or control positions in excess of 50,000 contracts net long or short in all months combined. The aggregate position limit in DJIA Index ($25 multiplier) futures, mini-sized Dow futures ($5 multiplier) and options, and DJIA Index ($10 multiplier) futures and options is 50,000 DJIA Index futures contracts, net long or net short in all contract months combined. For the purposes of this rule:
- One DJIA Index ($10 multiplier) futures contract shall be deemed to be equivalent to two mini-sized Dow ($5 multiplier) contracts.
Refer to Rule 559. for requirements concerning the aggregation of positions and allowable exemptions from the specified position limits.
|Final Settlement Price||The final settlement price of an expiring mini-sized Dow futures contract shall be determined on the final settlement day (Rule 26105.). The final settlement price shall be $5 times a Special Opening Quotation (SOQ) of the DJIA based on the opening prices of DJIA component stocks.
If, on the regularly scheduled final settlement day, the designated primary market for a DJIA component stock does not open, then the next opening price for that component stock shall be used in the determination of the SOQ.
If, on the regularly scheduled final settlement day, the designated primary market for a DJIA component stock is open, but that component stock does not open for trading, then the last sale price for that component stock shall be used in the determination of the SOQ.
|Final Settlement Day||The final settlement day for an expiring mini-sized Dow futures contract shall be the third Friday of the contract expiration month. If the DJIA is not scheduled to be published for that day, then the final settlement day shall be the first preceding business day for which the DJIA is scheduled to be published.|
|Delivery on Futures Contracts||Delivery against the mini-sized Dow futures contract must be made through the Clearing House. Delivery under these rules shall be on the final settlement day (as described in Rule 27105.) and shall be accomplished by cash settlement as hereinafter provided.
Clearing members holding open positions in mini-sized Dow futures at the time of termination of trading shall make payment to and receive payment through the Clearing House in accordance with normal variation settlement procedures based on a settlement price equal to the final settlement price (as described in Rule 27104.).
|Exchange Rule||These contracts are listed with, and subject to, the rules and regulations of CME Globex.|