Futures Contract Month Codes: Read a Futures Symbol
Separate the product root, expiry month and year so you know exactly which futures contract a symbol represents.
Futures contract month codes are the one-letter abbreviations that identify the expiry month inside a futures symbol. A common display code combines a product root, a month letter and a year. For example, CME uses ES for E-mini S&P 500 futures, Z for December and a numeric suffix for the year. The exact year format can vary by platform, so read the full contract description before placing an order.
Read the symbol from left to right
CME Group's contract-code lesson describes a common pattern: one to three letters for the product, followed by a single month letter and a numeric year. The format depends on the product, asset class and platform, but the three parts answer different questions.
| Part | Example | Meaning |
|---|---|---|
| Product root | ES | E-mini S&P 500 futures on CME Globex |
| Month code | Z | December expiry month |
| Year | 26 | 2026 in a two-digit platform format |
Put together, ESZ26 means the December 2026 E-mini S&P 500 contract in a display system that uses a two-digit year. It is an identifier, not a price quote. It also does not tell you the last trading day, settlement method or broker cutoff.
Futures month codes from January to December
CME publishes one standard letter for each calendar month. The sequence is not alphabetical, so keep the table nearby until the codes become familiar.
| Month | Code | Month | Code |
|---|---|---|---|
| January | F | July | N |
| February | G | August | Q |
| March | H | September | U |
| April | J | October | V |
| May | K | November | X |
| June | M | December | Z |
The month letter identifies the contract's expiry month, not the month in which you opened the position. A trader can open a December contract in October and the symbol still carries the December code Z.
Three examples
ESH27
ES is the E-mini S&P 500 root, H is March and 27 is 2027 in a two-digit format. This reads as the March 2027 E-mini S&P 500 contract.
MNQU6
MNQ is the Micro E-mini Nasdaq-100 root, U is September and 6 can represent 2026 in a platform that shows only the final year digit. Confirm the full year in the order ticket; a one-digit suffix is not self-explanatory outside its platform context.
CLF27
CL is the crude oil product root on CME's NYMEX market, F is January and 27 is 2027. The code identifies the listed contract. It does not replace the product page for delivery, notice or termination dates.
These examples explain symbol structure. They are not live market quotes and do not say which month is the most actively traded contract.
Why the same contract can appear differently
CME notes that contract-code formats can vary by asset class and trading platform. One screen may show a one-digit year, another a two-digit year, and a data vendor may add punctuation or an exchange suffix. A continuous chart can also use a synthetic ticker that rolls between listed contracts. That chart is useful for research, but it is not necessarily the symbol sent to the exchange.
Before acting on a symbol, compare it with the exchange product page and the contract description in your platform. Check the full expiry month and year. If you are using a futures prop account, also check which contracts and expiries the firm allows; its symbol aliases or rollover rules may differ from public exchange examples.
Expiry management is separate from symbol reading. Our futures contract expiration guide explains the choice to offset, roll or settle, while the first notice day vs last trading day guide separates two deadlines that are often confused.
Check five fields before trading
- Product root: confirm that the root is the intended contract size and market.
- Month letter: translate the code using the official month table.
- Full year: do not assume a one-digit suffix without the platform's contract description.
- Listed expiry: verify that the exchange lists that month for the product; not every product has every calendar month available.
- Deadlines: read the product specification and your broker or prop firm's cutoff for last trading, notices and required position closure.
If a chart, watchlist and order ticket show different symbols, stop at the order ticket and confirm the exchange contract description. A familiar root is not enough when the month or year is wrong.
Questions
What is the futures month code for March?
March uses H. The letter follows the product root and comes before the year suffix in the common CME display pattern.
What is the futures month code for December?
December uses Z. ESZ26, for example, identifies a December 2026 E-mini S&P 500 contract in a two-digit year format.
Why are some futures years one digit and others two?
Platforms and data vendors format symbols differently. CME's educational example uses a one-digit year, while other CME pages show two digits. Use the platform's full contract description to resolve the year.
Does the month code show the last trading day?
No. It identifies the expiry month only. The product specification supplies the actual last trading day, settlement and notice rules.
Does every futures product list all 12 months?
No. CME says available contract months vary by product. The table covers all calendar months, but a specific product can list only selected expiries.
Official sources
- CME Group: Contract Month Codes, checked October 29, 2026.
- CME Group: Understanding Contract Trading Codes, checked October 29, 2026.
- CME Group: Equity futures product-code example, checked October 29, 2026.