Micro E-mini Nasdaq-100 Futures (MNQ) Contract Specifications
What you're trading
The Micro E-mini Nasdaq-100 future (MNQ) is 1/10th the size of NQ and tracks the same Nasdaq-100 Index. Because NQ has the largest notional value of the four main E-mini equity index contracts, MNQ is particularly popular — it gives tech-focused exposure (Apple, Microsoft, Nvidia, Amazon, Alphabet, Meta) at an accessible contract size for retail accounts and for scaling in and out around earnings and macro events.
Contract size
$2 × Nasdaq-100 Index. With the index near 25,000, one MNQ contract carries a notional value of roughly $50,000.
Tick value
Minimum price fluctuation is 0.25 index points, and each tick is worth $0.50 per contract. A full 1-point move equals $2, and a 10-point move equals $20 per contract.
Trading hours
CME Globex: Sunday 5:00 p.m. CT through Friday 4:00 p.m. CT, with the 4:00–5:00 p.m. CT maintenance halt Monday through Thursday.
Settlement type
Cash-settled. Contracts expire quarterly on the third Friday of March, June, September, and December, settling to the same Special Opening Quotation as NQ.
Margin snapshot
MNQ margin is roughly 1/10th of NQ. Because Nasdaq-100 can have large index-point swings, always keep a buffer above maintenance.
|
Initial margin (overnight) |
~$2,200–$2,600 per contract (approximate; varies with volatility) |
|
Maintenance margin |
~$2,000–$2,350 per contract |
|
Day-trade margin |
Broker-set; often a small fraction of overnight margin |
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Notional value (reference) |
~$50,000 at index 25,000 |
Margins change with market volatility and vary by broker. The figures above are approximate and for reference only — always confirm current requirements with MetroTrade support or on the CME margin page before trading.