The fair value of an index futures contract is computed by combining all the underlying values, adding an interest cost of carry for the duration of the futures contract, and subtracting any dividends that are paid during the duration of the futures contract. The table above compares near futures contracts with the fair value of the underlying representing a contract. When a futures price is greater than the fair value, there is a premium, indicating that the market believes there is a potential for increase in the underlying price or a decrease in the futures price. When a futures price is less than the fair value, there is a discount indicating the market believes there is a potential for a decrease in the underlying price or an increase in the futures price.
|Disc or Prem|
|S&P 500(SPX)||2,427.76||Sep 17||N/A||N/A||N/A||N/A||0.0532|
|NASDAQ 100(NDX)||N/A||Sep 17||N/A||N/A||N/A||N/A||N/A|
|DJ Ind Avg(INDU)||21,683.80||Sep 17||N/A||N/A||N/A||N/A||N/A|
|FTSE 100(Z)||N/A||Sep 17||N/A||N/A||N/A||N/A||N/A|
|DAX 30(DAX)||12,065.99||Sep 17||N/A||N/A||N/A||N/A||0.0217|
|Swiss Market(SMI)||8,886.80||Sep 17||8,882.96||8,883.00||-3.84||-3.80||0.0381|
|CAC 40(CAC40)||N/A||Sep 17||N/A||N/A||N/A||N/A||N/A|
|S&P/ASX 200(SPI)||N/A||Sep 17||N/A||N/A||N/A||N/A||N/A|
|Nikkei Dow(N225)||19,393.13||Sep 17||19,320.09||19,320.00||-73.04||-73.13||-0.0904|
|Hang Seng(HSI)||N/A||Aug 17||N/A||27,225.00||N/A||N/A||N/A|
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