ICE Micro MSCI Index Futures

Efficiently trade leading equity benchmarks

ICE Micro MSCI Index Futures

For the first time, micro-sized futures contracts are available on some of the most liquid equity benchmarks in the world. Calculated by MSCI, a leading provider of index solutions serving the world’s institutional investors, the MSCI USA and MSCI Europe Indices are designed to capture the full opportunity set in their respective regions.

ICE’s micro MSCI Index Futures are highly scalable contracts that enable investors to have control on the level of equity risk they want to manage when trading the European and US equities.

Key benefits

  • Simple - Standardized futures contracts referencing the barometers for European and U.S. equities. Both contracts are denominated in USD and are available for trading on a single derivatives exchange
  • Capital Efficient - Participants can gain exposure to a notional of ~ US$20,000 in the contracts with minimal upfront deposit (Initial Margin available on Margin Scanning)
  • Liquid and Transparent - Tradable via a transparent orderbook where appointed market makers provide intraday liquidity during Asian trading hours

Micro MSCI USA Index FuturesMicro MSCI Europe Index Futures
Underlying Index / Variant / CurrencyMSCI USA (Price Return) Index (USD)MSCI Europe (Price Return) Index (USD)
Index TickerMXUSM3EU
Contract SymbolSMUSME
Index Value4,350 (as of August, 26th 2021)2,078 (as of August, 26th 2021)
Minimum Tick Increment (Index Pts)0.2 / US$10.1 / US$1
Multiplier$5$10
Contract Value~$20,000
Delivery Months5 Quarterly expiries (March, June, September and December cycle)
Minimum Block Size50 lots
Last Trading Day
Third Friday of the contract month.
Trading in the expiring contract ceases at 7:00 PM SGT
Final SettlementCash settlement on the basis of a special calculation of the Index based on the opening prices of the component stocks on the Last Trading Day
Trading Hours

Monday to Friday
8:00 AM to 6:00 AM,
preopen at 7:55 AM (all times SGT)

Exchange / Clearing VenueICE Futures Singapore / ICE Clear Singapore

Overview of the Underlying Indices

With over $14.5 trillion in assets benchmarked to its various indices, MSCI has been widely recognized by institutional investors for the quality of its global equity indices.

MSCI USA Index (in USD)

The MSCI USA Index is a market capitalization weighted index designed to track the performance of large and mid-size companies in the U.S. With over 600 constituents, the index covers approximately 85% of the total U.S. equity market and therefore offers a greater representativity for the mid cap segment of the market than other U.S. equity indices.

Learn more about the index with the MSCI USA Index FAQ.

MSCI USA vs. S&P 500

Daily Historical Prices

Market Cap Distribution MSCI USA Index

Top 10 Index Constituents

Security
Country
Float Adj. Mkt Cap (USD billions)
Index Weight (%)

Sector

APPLEUSA $2,448.71 6.15%Information Technology
MICROSOFT CORPUSA $2,148.85 5.12%Information Technology
AMAZON.COMUSA $1,675.66 3.57%Consumer Discretionary
FACEBOOK AUSA $857.06 2.15%Communication Services
ALPHABET AUSA $810.35 2.03%Communication Services
ALPHABET CUSA $885.85 2.00%Communication Services
TESLAUSA $659.61 1.32%Consumer Discretionary
NVIDIAUSA $482.80 1.21%Information Technology
JPMORGAN CHASE & COUSA $463.16 1.16%Financials
JOHNSON & JOHNSONUSA $452.66 1.14%Health Care

MSCI Europe Index (in USD)

The MSCI Europe Index is a market capitalization weighted index designed to track the performance of large and mid-size companies in Europe. With over 400 constituents, this broad market index covers approximately 85% of the total European equity universe. European markets included in the index are covering all major developed markets in Europe: United Kingdom, Eurozone, Switzerland and the Nordic countries.

With its broad market coverage and denomination in USD, the MSCI Europe Index offers greater diversification potential than pure eurozone equity indices.

Learn more about the index with the MSCI Europe Index FAQ.

MSCI Europe Index components

per Country of Domicile

MSCI Europe vs. EURO STOXX 50

Daily Historical Prices

Top 10 Index Constituents

Security
Country
Float Adj. Mkt Cap (USD billions)
Index Weight (%)

Sector

NESTLESWITZERLAND $364.93 3.28%Consumer Staples
ASML HLDGNETHERLANDS $317.86 2.85%Information Technology
ROCHE HOLDING GENUSSSWITZERLAND $271.59 2.44%Health Care
LVMH MOET HENNESSYFRANCE $403.36 1.99%Consumer Discretionary
NOVARTISSWITZERLAND $228.33 1.84%Health Care
ASTRAZENECAUNITED KINGDOM $177.87 1.60%Health Care
NOVO NORDISK BDENMARK $167.59 1.43%Health Care
UNILEVER PLC (GB)UNITED KINGDOM $151.74 1.36%Consumer Staples
SAPGERMANY $176.03 1.34%Information Technology
SIEMENSGERMANY $132.62 1.07%Industrials

ICE is the leading venue for MSCI Index Futures

ICE currently lists more than 90 futures and options contracts on MSCI indices, capturing the entire equity opportunity set across all major broad benchmarks, such as the MSCI ACWI, World, Emerging Markets and EAFE down to country-specific, sector and factor indices. With a wide and growing buy-side user base of all MSCI derivative venues, ICE is committed to providing participants around with world with tools to manage equity risk in a capital efficient manner.

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