Notional value
Definition · Level 7 · Futures, rates & macro
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Full market exposure a derivative controls: price × multiplier × number of contracts. It, not the margin posted, measures your real size.
Example
One NQ at 20,000 = 20,000 × $20 = $400,000 of Nasdaq-100 exposure.
Where Tradecraft teaches it
Level 7 · Futures, rates & macro, in the lesson “Futures: the contract”: Standardized contracts, month codes, notional and tick value: the specs every desk knows by heart.
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