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Emini futures contracts, known as eminis, are simply scaled down versions of the larger "full size" contracts they emulate. Emini futures contracts are relatively new to the trading scene having only been around since 1997.
Emini trading was introduced to the markets by the Chicago Mercantile Exchange (CME) with the creation of the S&P 500 Emini Futures Contract. This product was created to provide traders with an affordable method of trading the stock indices.