Russell Futures
RTY=F
Key Statistics
About Russell Futures
By Liveworldmarket Editorial Team · Last reviewed 6 July 2026
Russell 2000 Futures (E-mini RTY) — A Practical Guide
Russell 2000 E-mini futures (CME ticker RTY) are the primary derivative vehicle for trading the US small-cap equity universe. The contract is sized at $50 × Russell 2000 index, with daily trading volume in the tens of thousands of contracts. RTY is significantly less liquid than the big three (ES, NQ, YM E-minis) but provides the cleanest exposure to small-cap risk appetite.
RTY's daily move is uniquely indicative of US small-cap sentiment — heavily weighted to regional banks, biotech and small-cap industrials. When RTY outperforms ES (large caps), market breadth is healthy and risk-on. When RTY underperforms ES sharply, capital is flying to mega-cap safety — historically a late-cycle warning.
History & contract origins
RTY E-mini was launched by the CME in July 2017, replacing the older ICE-listed Mini Russell 2000 contract after FTSE Russell switched index-licensing from ICE to CME. The migration produced exceptionally high trading volumes in the new RTY during the first few months. The contract has since become the standard institutional and retail vehicle for US small-cap futures exposure.
Trading hours & session layout
RTY trades the same CME Globex schedule as the other US E-mini index futures (IST):
| Weekly open | Sun 04:30 IST |
| Daily break | 03:30 - 04:30 IST |
| US cash open | 19:00 / 20:00 IST (DST) |
| Weekly close | Sat 02:30 IST |
Holiday calendar (typical annual closures)
Listed below are the major scheduled closures for the underlying exchange. Exact dates shift year-to-year — always verify against the exchange's official calendar before holding overnight positions across a holiday boundary.
| Holiday | Typical date |
|---|---|
| Standard CME equity-futures calendar | (MLK Day, Presidents Day, Good Friday, Memorial Day, Independence Day, Labor Day, Thanksgiving, Christmas) |
| Russell Annual Rebalance | Third Friday of June — significant volume |
How to read this tape
Watch the RTY/ES ratio. A rising ratio = broad participation in any rally (healthy). A falling ratio = mega-cap concentration (cautious). Watch the Russell rebalance week in June for unusual single-day volume.
RTY's correlation with US 10-year yields is more negative than ES — small caps have higher leverage and refinancing risk, so a 50bp yield move can drive a 3-5% RTY move within days.
Frequently asked questions
Is RTY less liquid than ES?
Yes — daily volume is roughly 5-10% of ES. Bid-ask spreads are typically 1-2 ticks vs. ES's 1 tick. Suitable for medium-size positions but not for very large institutional flows.
Why is Russell more volatile than S&P 500?
Small-cap leverage, less geographic diversification, and roughly 18% regional-bank exposure. Annualised vol is typically 20-30% higher than ES.
What is the Russell rebalance?
Annual reconstitution of the Russell 2000 basket on the third Friday of June. Index additions and deletions cause significant single-day volume spikes as passive funds rebalance.
Can I day-trade RTY?
Yes — RTY's smaller multiplier ($50 vs. $50 for ES with much smaller index level) makes it accessible. Maintenance margin is significantly lower than ES.
Related markets
Editorial article. Information only — not investment advice. Read our Risk Disclaimer before acting on any market data shown here.