CME Group brings back single stock futures on July 27

Key Takeaways

• CME Group launches 55 standard and 22 micro single stock futures on July 27, 2026, covering 50+ major US companies
• Contracts offer leverage, no short-sale restrictions, and nearly 23-hour trading windows
• This marks the first major US single stock futures market since OneChicago shut down in 2020

CME Group will launch single stock futures on July 27, 2026, reviving a US market that has been effectively dead since 2020. The world's largest derivatives exchange announced 77 contracts covering major names like Apple, Nvidia, Tesla, and the newly public SpaceX.

The initial launch includes 55 standard-sized contracts and 22 micro-sized versions spanning more than 50 companies from the S&P 500, Nasdaq-100, and Russell 1000 indexes. Standard contracts represent 100 shares; micros represent 10. Both settle in cash, eliminating stock borrowing and physical delivery.

Why single stock futures disappeared from the US

OneChicago, the only US exchange offering single stock futures, shut down in September 2020 after years of anemic trading volumes and regulatory friction. The Commodity Futures Trading Commission and SEC share jurisdiction over these products, creating compliance headaches that kept institutional players away.

CME Group's re-entry signals that the regulatory and commercial environment has shifted. The meme stock era from 2021 onward drove retail and institutional appetite for equity derivatives. Record options volumes, zero-commission stock trading, and demand for capital-efficient hedging tools all contributed.

What the contracts look like

The structure follows CME's existing equity index futures model. Quarterly expirations in March, June, September, and December. Trading runs nearly 23 hours per day, Sunday through Friday, from 5:00 p.m. to 4:00 p.m. Central Time with a daily maintenance break. That extended window lets traders react to earnings or geopolitical events when the stock market is closed.

Minimum price movement is 0.01 points. For standard contracts, that equals $1.00 per tick. For micros, it's $0.10. Tim McCourt, CME Group's Global Head of Equities, FX and Alternative Products, said clients want tools to manage equity price risk with greater precision while benefiting from the capital efficiencies and centralized clearing of a regulated marketplace.

Which companies are included?

The initial roster reads like a who's who of tech and growth stocks: Apple (AAPL), Amazon (AMZN), Alphabet (GOOGL), Meta (META), Nvidia (NVDA), Tesla (TSLA), and Micron (MU). The surprise entry is SpaceX under the ticker SPCX, suggesting Elon Musk's rocket company has completed a public listing. CME has not disclosed the full list of 50+ names, but the S&P 500 and Nasdaq-100 weighting means large-cap tech will dominate.

Advantages over trading the underlying stock

Futures require margin, not full payment. A trader controlling $50,000 worth of Nvidia shares might post $5,000 to $7,500 depending on the broker's margin requirements. That leverage cuts both ways, amplifying gains and losses, but it frees capital for other positions.

Short sellers benefit the most. Shorting a stock requires borrowing shares, paying lending fees, and navigating short-sale restrictions during volatile periods. Single stock futures have none of that. A trader who expects Apple to drop after earnings can sell a contract without locating shares or paying a borrow fee.

• Leverage through margin, typically 5-15% of notional value
• No short-sale uptick rule or borrow fees
• Nearly 23-hour trading window
• Cash settlement simplifies accounting
• Integrates with existing futures and options strategies

Who will trade these?

Hedge funds running equity long/short strategies are the obvious first movers. They already trade CME equity index futures and can add single-name exposure without switching infrastructure. Market makers who arbitrage between stocks and options will use futures as a third leg.

Retail traders may follow if brokers enable access. Interactive Brokers, Charles Schwab, and other platforms that already offer futures on commodities and indexes would need to add these contracts. The micro-sized versions, at 10 shares, lower the barrier for smaller accounts.

Risks and open questions

Liquidity is the obvious concern. OneChicago failed because nobody traded there. CME Group has the infrastructure and the client base, but single stock futures will compete with options, swaps, and the underlying shares. If bid-ask spreads stay wide, institutional flow won't materialize.

Regulatory approval is still pending. CME's announcement says July 27 launch is subject to final approvals. The dual CFTC/SEC jurisdiction that hobbled OneChicago remains in place. Any late objections could delay or alter the product.

How to access the new contracts

Market participants can trade through their existing futures brokers. Anyone with a CME Globex connection can access the contracts on day one. Retail traders should check whether their broker supports equity futures and what margin requirements apply.

Frequently Asked Questions

What are single stock futures?

Single stock futures are contracts to buy or sell shares of an individual company at a set price on a future date. Unlike buying stock directly, futures use margin, settle in cash, and trade on regulated exchanges like CME.

When do CME single stock futures launch?

CME Group plans to launch single stock futures on July 27, 2026, pending final regulatory approval.

Which stocks are included in CME's single stock futures?

The initial launch covers 50+ companies including Apple, Amazon, Alphabet, Meta, Nvidia, Tesla, Micron, and SpaceX. All are drawn from the S&P 500, Nasdaq-100, or Russell 1000 indexes.

What is the difference between standard and micro single stock futures?

Standard contracts represent 100 shares of the underlying stock. Micro contracts represent 10 shares, making them accessible for smaller accounts.

Why did single stock futures fail in the US before?

OneChicago, the only US exchange offering them, closed in 2020 due to low trading volumes and regulatory complexity from dual CFTC/SEC oversight.

Source: Crowdfund Insider