Ok where were we. So yes, ESM futures main volume period takes place from 09:30 ET/08:30CT/23:30 AET until 16:00 ET/15:00 CT/ 18:00 AET. A bunch of this confusion really started with the move from pit trading to electronic. Really, all the ES is electronic. The bulk of the volume is during the US cash equity session. Yes, settlement is in the last half minute of the rth session. Here are some charts showing 15 minute and 1 minute views with the regular session highlighted. You can see how volume changes. I will see if I can get a clearer view.
Systems, page-61
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