---
title: Micro E-mini Russell 2000 Futures (M2K) Contract Specifications
description: M2K product specs
---

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# Micro E-mini Russell 2000 Futures (M2K) Contract Specifications

#### What you're trading

The Micro E-mini Russell 2000 future (M2K) is 1/10th the size of RTY and tracks the same Russell 2000 small-cap index. It's used by traders who want targeted exposure to U.S. small-caps at a smaller capital footprint, or who want to combine U.S. small-cap exposure with positions in the other Micro E-mini products (MES, MNQ, MYM) to build diversified equity index portfolios without the notional size of the full E-mini contracts.

#### Contract size

$5 × Russell 2000 Index. With the index near 2,400, one M2K contract carries a notional value of roughly $12,000.

#### Tick value

Minimum price fluctuation is 0.10 index points, and each tick is worth $0.50 per contract. A full 1-point move equals $5, and a 10-point move equals $50 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 opening value of the Russell 2000 Index as RTY.

#### Margin snapshot

M2K margin is roughly 1/10th of RTY and is one of the most accessible ways to get U.S. small-cap futures exposure.

| **Initial margin (overnight)** | ~$750–$900 per contract (approximate; varies with volatility) |
| --- | --- |
| **Maintenance margin** | ~$680–$820 per contract |
| **Day-trade margin** | Broker-set; often a small fraction of overnight margin |
| **Notional value (reference)** | ~$12,000 at index 2,400 |

*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.*

#### Related learning

- CME official contract specifications: [Micro E-mini Russell 2000 Futures Contract Specs](https://www.cmegroup.com/markets/equities/russell/micro-e-mini-russell-2000.contractSpecs.html)
- [E-mini Russell 2000 (RTY) — 10× the size of M2K](https://www.cmegroup.com/markets/equities/russell/e-mini-russell-2000.contractSpecs.html)
- [CME initial margin requirements (all products)](https://www.cmegroup.com/clearing/margins/)
- [https://www.metrotrade.com/margins/](https://www.metrotrade.com/margins/)

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