MNQ (Micro E-Mini Nasdaq 100)
MNQ is the Micro E-Mini Nasdaq 100 futures contract, sized at one-tenth of the standard NQ. With a tick value of $0.50, it gives traders access to Nasdaq 100 futures with minimal capital requirements.
MNQ (ticker: /MNQ) is the Micro E-Mini Nasdaq 100 futures contract, listed on the CME Globex platform. It launched in May 2019 alongside the other Micro E-Mini contracts and tracks the Nasdaq-100 at 1/10th the size of the standard NQ.
Contract specifications
| Spec | Value |
|---|---|
| Underlying | Nasdaq-100 Index |
| Multiplier | $2 per point |
| Tick size | 0.25 points |
| Tick value | $0.50 |
| Point value | $2.00 |
| Trading hours | Sun–Fri, 6:00 PM – 5:00 PM ET (23h) |
| Expiry | Quarterly (Mar, Jun, Sep, Dec) |
MNQ vs NQ
10 MNQ contracts = 1 NQ contract in terms of exposure.
| MNQ | NQ | |
|---|---|---|
| Tick value | $0.50 | $5.00 |
| Point value | $2.00 | $20.00 |
| 100-point move | $200 | $2,000 |
MNQ and the Nasdaq range
The Nasdaq-100 is one of the most volatile major indices. On an average day, NQ might range 200–400 points. On MNQ, that is $400–$800 per contract: a meaningful but manageable swing for smaller accounts.
This makes MNQ well-suited for traders who want real exposure to tech-driven volatility without the capital requirements of a full NQ contract.
Margin
Typical intraday margin for MNQ through prop firms runs around $40–$80 per contract. Overnight margin follows CME SPAN requirements and is significantly higher. Most day traders flatten MNQ before the session close to avoid overnight margin requirements.