M6E Tick Value, Point Value & Contract Specs
One M6E (Micro EUR/USD) tick is 0.0001 USD per euro and is worth $1.25 per contract. A 1.00 move in the price is worth $12,500. Source: CME Group contract specs.
M6E contract specs
| Product | Micro EUR/USD Futures |
|---|---|
| Symbol (CME Globex) | M6E |
| Exchange | CME (rulebook chapter CME 292) |
| Contract unit | 12,500 euros |
| Price quoted in | USD per euro |
| Tick size (outright) | 0.0001 USD per euro |
| Tick value | $1.25 per contract |
| Point value (1.00 move) | $12,500 per contract |
| Pip (0.0001) value | $1.25 (1 tick) |
| Settlement | Physical delivery |
| Listed contracts | Quarterly contracts (Mar, Jun, Sep, Dec) listed for 2 consecutive quarters. Month codes: H M U Z |
| Next expiry | M6EZ6 (Dec 2026): suggested roll Wed, Dec 9, 2026, last trading day Mon, Dec 14, 2026. Rollover calendar |
| Trading hours | CME Globex: Sunday–Friday 5:00 p.m. – 4:00 p.m. CT (6:00 p.m. – 5:00 p.m. ET), with a daily break 4:00 p.m. – 5:00 p.m. CT. Trading hours today and holidays |
| Larger contract | 6E (Euro FX): M6E = 1/10 of 6E. The tick sizes differ: 6E moves in 0.00005 (half a pip, $6.25), M6E in 0.0001 (one pip, $1.25). Per pip, 1 6E = 10 M6E. |
Sources: CME Group contract specs (read October 23, 2026) · TradingView symbol page (cross-check of contract size) (read October 23, 2026). Tick size, tick value and contract size come from the CME Group spec page. A second source, read the same day, confirms them: Barchart's contract profile (tick size and tick value) or, for MYM, M2K, MCL and M6E, TradingView (contract size).
How much is 1 M6E contract?
Type the current price. The default is an example level, not a quote.
Notional value: $14,0001.1200 × $12,500 × 1 contract
Notional value is the size of the exposure, not the cash you need. Your broker asks for a margin, set by the broker and CME.
About M6E
M6E is 12,500 euros, one tenth of 6E, and ticks in whole pips: 0.0001 = $1.25.
CME lists only the next 2 quarterly contracts (Mar, Jun, Sep, Dec), while 6E also lists monthly contracts.
Like 6E it is physically delivered at expiry.
What one M6E move is worth
Worked examples with an example move (not a quote):
- A 0.0020 (20-pip) move on 1 M6E = 20 ticks × $1.25 = $25.00.
- A 0.0020 (20-pip) move on 2 M6E = $50.00.
- 1 tick on 10 M6E = 10 × $1.25 = $12.50.
- The same 0.0020 (20-pip) move on 1 6E = $250.00.
M6E and 6E
M6E is the micro version of 6E. M6E = 1/10 of 6E: 6E ticks are worth $6.25 and a 1.00 move is $125,000. The tick sizes differ: 6E moves in 0.00005 (half a pip, $6.25), M6E in 0.0001 (one pip, $1.25). Per pip, 1 6E = 10 M6E.
Micros let you size in smaller steps: a stop of the same distance costs a fraction as much. See micro vs mini futures to convert a position from one to the other.
M6E futures calculator
Trade
Contract: M6E (Micro EUR/USD). Other contracts
1 tick = 0.0001 = $1.25 · 1.00 move = $12,500
Commission per contract, per side (entry and exit are each charged). Add exchange and clearing fees if your broker lists them separately.
Profit and loss
+20 ticks × $1.25 × 1 contract = $25.00 gross
$25.00 − $0.00 commission = $25.00 net
Notional value at entry (example price, not a quote): $14,000 (1.1200 × $12,500 × 1 contract).
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M6E FAQ
How much is 1 M6E contract worth?
Its notional value is the price times $12,500. At an example price of 1.1200, 1 M6E controls $14,000. Type the current price in the notional value box on this page for today's figure. The margin your broker asks to hold the contract is a different, much smaller number set by the broker and CME.
What is the M6E tick value?
One M6E tick is 0.0001 USD per euro and is worth $1.25 per contract (CME Group contract specs). A 1.00 move in the price is worth $12,500.
What is one pip worth on M6E?
A pip is 0.0001. On M6E that is 1 tick of 0.0001, worth $1.25 per contract.
How many M6E make one 6E?
10 M6E carry the same exposure as 1 6E: 10 × $12,500 = $125,000 per 1.00 move. The tick sizes differ: 6E moves in 0.00005 (half a pip, $6.25), M6E in 0.0001 (one pip, $1.25). Per pip, 1 6E = 10 M6E. A 0.0020 (20-pip) move is worth $250.00 on 1 6E and $25.00 on 1 M6E.
Is M6E cash-settled?
No. M6E is settled by physical delivery ("deliverable" in the CME specs): a position held through expiry ends in delivery of the underlying.
Which months does M6E trade?
Quarterly contracts (Mar, Jun, Sep, Dec) listed for 2 consecutive quarters (CME Group). Month codes: H, M, U, Z.