Product Specifications

Mini-Russell 2000 Index Futures

CONTRACT NAME:
Mini-Russell 2000 Index Futures

DESCRIPTION:
The Russell 2000 Index is designed to measure the performance of the bottom 2,000 companies from a universe of the 3,000 largest stocks in the U.S. The Russell 2000 Index is capitalization-weighted and includes only common stocks belonging to corporations domiciled in the U.S. and its territories and traded on the NYSE, NASDAQ or the AMEX. The Russell 2000 Index is adjusted once per year, in June, to reflect changes in rankings and shares outstanding.

CONTRACT SIZE:
The contract multiplier for the Mini-Russell 2000 Index is $100. For example, at an index level of 650, the contract size of one Mini-Russell 2000 Index futures contract would be $65,000 (650 x $100).

TRADING HOURS:
8:30 a.m. - 3:15 p.m. Chicago Time

TRADING PLATFORM:
CBOEdirect

CONTRACT MONTHS:
Up to three near-term serial months and five months in the March quarterly cycle (March, June, September, December) may be listed for the Mini-Russell 2000 Index futures contract.

TICKER SYMBOLS:
Trading Symbol: RT
CBOE Financial Network Dissemination Symbol: RUF
Settlement Symbol: RUH

PRICING QUOTATION:
The Mini-Russell 2000 Index futures contract is quoted in terms of the underlying Russell 2000 Index.

PRICING CONVENTIONS:
The futures prices are stated in decimal format.

MINIMUM PRICE INTERVALS:
0.05 of one index point (equal to $5 per contract).
0.01 of one index point for calendar spreads executed as simultaneous transactions (equal to $1 per contract).

DOLLAR VALUE PER TICK:
$5.00 per contract.

FINAL SETTLEMENT DATE:
The third Friday of the expiring month ("Final Settlement Date").

TERMINATION OF TRADING:
The close of trading on the day before the Final Settlement Date. When the last trading day is moved because of a CFE holiday, the last trading day for expiring Mini-Russell 2000 Index futures contracts will be the day immediately preceding the last regularly-scheduled trading day.

FINAL SETTLEMENT VALUE:
The final settlement value for the Mini-Russell 2000 Index futures contract shall be a Special Opening Quotation calculated using the opening reported sales price in the primary market of each component security of the Mini-Russell 2000 Index futures contract on the Final Settlement Date. If the final settlement value is not available or the normal settlement procedure cannot be utilized due to a trading disruption or other unusual circumstance, the settlement value will be determined in accordance with the rules and bylaws of The Options Clearing Corporation.

DELIVERY:
Settlement of Mini-Russell 2000 Index futures contracts will result in the delivery of a cash settlement amount on the business day immediately following the Final Settlement Date. The cash settlement amount on the Final Settlement Date shall be the final mark to market amount against the final settlement price of the Mini-Russell 2000 Index futures contract multiplied by $100.00.

MARGIN REQUIREMENTS

POSITION LIMITS:
CFE Rule 1502 (d) - A person may not own or control more than 5,000 contracts net long or net short.

For the purposes of this rule, the positions of all accounts directly or indirectly owned or controlled by a person or persons, and the positions of all accounts of a person or persons acting pursuant to an expressed or implied agreement or understanding shall be cumulated.

The foregoing position limit shall not apply to bona fide hedge positions meeting the requirements of Commission Regulation §1.3(z)(1) and the rules of the Exchange.

MINIMUM REPORTABLE LEVEL:
200 or more contracts.

Options involve risk and are not suitable for all investors. Prior to buying or selling an option, a person must receive a copy of Characteristics and Risks of Standardized Options (ODD). Copies of the ODD are available from your broker, by calling 1-888-OPTIONS, or from The Options Clearing Corporation, One North Wacker Drive, Suite 500, Chicago, Illinois 60606. The information on this website is provided solely for general education and information purposes and therefore should not be considered complete, precise, or current. Many of the matters discussed are subject to detailed rules, regulations, and statutory provisions which should be referred to for additional detail and are subject to changes that may not be reflected in the website information. No statement within the website should be construed as a recommendation to buy or sell a security or to provide investment advice. The inclusion of non-CBOE advertisements on the website should not be construed as an endorsement or an indication of the value of any product, service, or website. The Terms and Conditions govern use of this website and use of this website will be deemed acceptance of those Terms and Conditions.