What is US SPX 500?
SPX is derived from a very popular stock index called S&P 500. It is based on the market capitalizations of 500 large companies having common stock listed on the New York Stock Exchange or NASDAQ. It is one of the most commonly followed equity indices, and many consider it one of the best representations of the U.S. stock market, and a bellwether for the U.S. economy. In fact, many consider it to be the definition of the market.
Companies included in the index are selected by the S&P Index Committee, a team of analysts and economists at Standard & Poor’s. The S&P 500 is a market value weighted index – each stock’s weight is proportionate to its market value. The S&P 500 is designed to be a leading indicator of U.S. equities and is meant to reflect the risk/return characteristics of the large cap universe.
Trading hours for S&P 500 on New York Stock Exchange and NASDAQ are 09:30 am to 04:00 pm (EST) Monday to Friday. However, SPX can be traded on our platform on the following extended hours:
12:00 am to 10:00 pm (Central European Summer Time) Monday to Friday.
10:00 pm to 08:00 pm (Greenwich Mean Time) Sunday to Friday.
Contract Specifications for US SPX 500
|Class||Equity Index (stock market index)|
|Description||Index representing 500 top U.S. and International stocks|
|Standard Tradable Quantity (also called a LOT)||10 SPX contracts|
|Minimum Tradable Quantity (the fraction of lot available to trade)||1 SPX contract|
|Base Currency (Currency used for margin, P&L and other calculations)||United States Dollars|
|Tick Size (The least incremental change in the price of the index)||0.1 (example: 1923.2 changes to 1923.3 at least)|