CME
Micro GBP/USD (M6B) Tick Value & Contract Specs
Tick value $0.625 per tick — 6,250 British pounds.
Micro GBP/USD futures (M6B) hold 6,250 British pounds, one-tenth of the 62,500-pound 6B contract, and are quoted in US dollars per pound. The tick is 0.0001, a single pip, worth $0.625 per contract, so ten pips is $6.25 and a 100-pip day in cable is $62.50. That makes M6B one of the smallest units of currency risk available on a regulated futures exchange.
Sterling moves on UK inflation data, Bank of England decisions and, from time to time, domestic politics, and it can cover a wide range quickly when one of those surprises. The micro lets an account hold a position through that volatility at a size it can carry, or build into a view over several entries. Two details catch people out. The tick value has three decimal places, $0.625 rather than $0.63, and rounding it across a large position misstates the risk. And the micro is less liquid than 6B, so expect wider spreads in Asian hours. Ten M6B contracts carry exactly the same exposure as one 6B, which is the simplest check that a position is sized as intended. The calculator below is pre-filled with M6B's specs.
- Exchange
- CME
- Contract size
- 6,250 British pounds
- Tick size
- 0.0001
- Tick value
- $0.625
- Point value (multiplier)
- $6250
- Trading hours
- Sun–Fri 6:00pm–5:00pm ET, with a daily trading halt 5:00pm–6:00pm ET
- Margin
- Margin is roughly one-tenth of full-size 6B and varies by broker.
How M6B tick value works
Tick value is the dollar amount one futures contract gains or loses when the price moves one minimum increment (one tick).
tick value = tick size × multiplier. For M6B, that is 0.0001 × $6250 = $0.625 per tick, per contract.
One contract represents 6,250 British pounds. P&L for a move from entry to exit is (exit − entry) ÷ tick size × tick value × contracts.
M6B contract months and ticker symbols
A futures ticker is three parts: the root, a one-letter delivery month, and the year. M6BZ2026 is the December 2026 M6B contract. The month letters skip I and L, which would read as 1 and 7 on a ticker.
| Code | Month | Listed for M6B? |
|---|---|---|
| F | January | No |
| G | February | No |
| H | March | Yes — M6BH |
| J | April | No |
| K | May | No |
| M | June | Yes — M6BM |
| N | July | No |
| Q | August | No |
| U | September | Yes — M6BU |
| V | October | No |
| X | November | No |
| Z | December | Yes — M6BZ |
Which M6B contract am I looking at?
Most charts default to the continuous front-month series rather than a dated contract — one stitched-together chart that rolls to the next month as the current one nears expiry. Every platform spells it differently, which is why the same contract appears under so many names.
| Written as | Platform | Meaning |
|---|---|---|
| M6B1! | TradingView | Continuous front-month contract. "2!" is the next one out, and a dated contract is written in full, e.g. M6BZ2026. |
| M6B00 | Barchart | Continuous front-month series. "M6BZ26" style codes name a specific month and year instead. |
| M6Bc1 | Refinitiv / Reuters | Continuous front month; c2 is the second month out. |
| /M6B | thinkorswim, tastytrade | The leading slash marks it as a future rather than a stock. A specific month is /M6BZ26. |
| M6B=F | Yahoo Finance | The "=F" suffix denotes the front-month futures series. |
| $M6B | StockTwits, social | A cashtag, not an exchange symbol. It usually means the front month, but it is informal and ambiguous. |
A dated code such as M6BZ26 always means one specific contract; the continuous forms never do. Check which you are quoting before comparing a price to someone else’s — around a roll they differ.
Frequently asked questions
- What is the tick value for M6B?
- $0.625 per tick — a 0.0001 tick size × a $6250 multiplier (point value).
- What is one M6B contract worth?
- One contract represents 6,250 British pounds. Notional value = price × $6250; use the tick value calculator with the current price for an exact figure.
- Which exchange lists M6B?
- Micro GBP/USD (M6B) trades on the CME.
- What are the trading hours for M6B?
- Sun–Fri 6:00pm–5:00pm ET, with a daily trading halt 5:00pm–6:00pm ET.
- How much margin do I need to trade M6B?
- Margin is roughly one-tenth of full-size 6B and varies by broker.
- What are the M6B contract months?
- M6B lists March, June, September and December.
- What does M6BZ2026 mean?
- It is one specific M6B contract: the root M6B, the delivery-month code Z, and the year. Z is December, so M6BZ2026 is the December 2026 contract. The codes run F G H J K M N Q U V X Z for January through December — I and L are skipped because they read as 1 and 7 on a ticker.
- What is M6B00, M6B1! or /M6B?
- All three name the same thing: the continuous front-month M6B contract, written differently by different platforms. Barchart uses M6B00, TradingView M6B1!, thinkorswim and tastytrade /M6B, Yahoo Finance M6B=F, and M6B on social media is usually written $M6B. None of them is a separate instrument — each stitches together whichever dated contract is currently the front month.
- How is P&L calculated for M6B?
- P&L = (exit price − entry price) ÷ 0.0001 tick size × $0.625 tick value × number of contracts. Use the tick value calculator to compute this directly.
More futures contract specs
- 6B — British PoundTick value $6.25 · CME
- 6A — Australian DollarTick value $5.00 · CME
- 6C — Canadian DollarTick value $5.00 · CME
- 6S — Swiss FrancTick value $6.25 · CME
See all futures contract specs or use the futures contract & tick value calculator with any symbol or custom specs.
Specs last reviewed 2026-10-30. Exchanges can amend contract specs — always confirm against the exchange or your broker before trading.