CME launches single stock futures enabling investors to trade SpaceX, Micron and others 23 hours a day - CNBC

What the report says

CNBC reported that CME Group on Monday introduced cash-settled single-stock futures covering 55 U.S. equities, plus smaller “micro” versions for 22 of those names. The products give investors a new way to take bullish or bearish positions in individual companies including SpaceX, Micron Technology, Nvidia, Tesla and Apple. CME is offering the contracts on its Globex platform from Sunday evening to Friday afternoon, interrupted by a one-hour daily maintenance window, which effectively allows trading for most of the day and night.

According to CNBC, the standard futures contracts are tied to 100 shares of the underlying stock, while micro contracts correspond to 10 shares. CME said the products are meant to be more straightforward than options for expressing directional views, because they do not carry option-specific features such as time decay or shifting implied volatility. They are traded on margin, settle in cash, and do not give holders ownership of the underlying company. Final settlement is based on the stock’s official closing price at expiration.

The launch matters because it extends near-round-the-clock trading in major single stocks and could let investors react more quickly to earnings, corporate announcements or other market-moving events outside regular U.S. stock-market hours. CNBC also cited a Morgan Stanley analyst note saying retail brokers viewed the rollout as a major retail growth catalyst, with more than 35 retail partners preparing for early availability. The move comes as traditional exchanges face competitive pressure from overseas perpetual futures platforms, while U.S. regulators have recently permitted some crypto-related perpetual products from firms including Kalshi and Coinbase.