A monetary constant that is set by an exchange in order to calculate the monetary (dollar) value of a stock index futures contract. The dollar value of the futures contract is given by:
Dollar value = futures contract multiple × futures price
For example, suppose the futures price for a given index is 1,100 and the contract multiple is CU 300 (where CU stands for currency unit). The dollar value of the index futures is:
Dollar value = 1,100 × 300 = CU 330,000
