CME
Micro EUR/USD (M6E) Tick Value & Contract Specs
Tick value $1.25 per tick — 12,500 euros.
Micro EUR/USD futures (M6E) are one-tenth of the standard Euro FX contract: 12,500 euros instead of 125,000, quoted in US dollars per euro exactly like 6E. The tick is a full 0.0001, one spot pip, worth $1.25 per contract, so a 50-pip move is $62.50. That unit sits close to a spot mini lot of 10,000 units, which makes M6E a natural bridge for traders moving from a forex platform to an exchange-traded contract.
The trade-offs against the full-size contract are worth knowing before switching. Liquidity is thinner than in 6E, so spreads can widen outside the London and New York sessions, and the minimum increment is a whole pip rather than 6E's half pip. In return, size can be set finely enough to match a precise risk budget: risking $100 on a 40-pip stop is two M6E contracts, whereas a single 6E contract would risk $500 on the same stop. Margin scales down in proportion. Like every CME currency future, M6E is centrally cleared with no overnight swap built into the quote; the cost of carry shows up instead as the price difference between contract months. The calculator below is pre-filled with M6E's specs.
- Exchange
- CME
- Contract size
- 12,500 euros
- Tick size
- 0.0001
- Tick value
- $1.25
- Point value (multiplier)
- $12500
- 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 6E and varies by broker.
How M6E 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 M6E, that is 0.0001 × $12500 = $1.25 per tick, per contract.
One contract represents 12,500 euros. P&L for a move from entry to exit is (exit − entry) ÷ tick size × tick value × contracts.
M6E contract months and ticker symbols
A futures ticker is three parts: the root, a one-letter delivery month, and the year. M6EZ2026 is the December 2026 M6E contract. The month letters skip I and L, which would read as 1 and 7 on a ticker.
| Code | Month | Listed for M6E? |
|---|---|---|
| F | January | No |
| G | February | No |
| H | March | Yes — M6EH |
| J | April | No |
| K | May | No |
| M | June | Yes — M6EM |
| N | July | No |
| Q | August | No |
| U | September | Yes — M6EU |
| V | October | No |
| X | November | No |
| Z | December | Yes — M6EZ |
Which M6E 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 |
|---|---|---|
| M6E1! | TradingView | Continuous front-month contract. "2!" is the next one out, and a dated contract is written in full, e.g. M6EZ2026. |
| M6E00 | Barchart | Continuous front-month series. "M6EZ26" style codes name a specific month and year instead. |
| M6Ec1 | Refinitiv / Reuters | Continuous front month; c2 is the second month out. |
| /M6E | thinkorswim, tastytrade | The leading slash marks it as a future rather than a stock. A specific month is /M6EZ26. |
| M6E=F | Yahoo Finance | The "=F" suffix denotes the front-month futures series. |
| $M6E | 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 M6EZ26 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 M6E?
- $1.25 per tick — a 0.0001 tick size × a $12500 multiplier (point value).
- What is one M6E contract worth?
- One contract represents 12,500 euros. Notional value = price × $12500; use the tick value calculator with the current price for an exact figure.
- Which exchange lists M6E?
- Micro EUR/USD (M6E) trades on the CME.
- What are the trading hours for M6E?
- 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 M6E?
- Margin is roughly one-tenth of full-size 6E and varies by broker.
- What are the M6E contract months?
- M6E lists March, June, September and December.
- What does M6EZ2026 mean?
- It is one specific M6E contract: the root M6E, the delivery-month code Z, and the year. Z is December, so M6EZ2026 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 M6E00, M6E1! or /M6E?
- All three name the same thing: the continuous front-month M6E contract, written differently by different platforms. Barchart uses M6E00, TradingView M6E1!, thinkorswim and tastytrade /M6E, Yahoo Finance M6E=F, and M6E on social media is usually written $M6E. None of them is a separate instrument — each stitches together whichever dated contract is currently the front month.
- How is P&L calculated for M6E?
- P&L = (exit price − entry price) ÷ 0.0001 tick size × $1.25 tick value × number of contracts. Use the tick value calculator to compute this directly.
More futures contract specs
- 6E — Euro FXTick value $6.25 · CME
- M6B — Micro GBP/USDTick value $0.625 · CME
- 6A — Australian DollarTick value $5.00 · CME
- 6C — Canadian DollarTick value $5.00 · 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.