Treasury futures and options routinely trade at price levels that, in theory, would lead to variation margin amounts involving fractions of cents. As a practical matter these must be rounded to the nearest penny. Anyone familiar with futures trade processing will be keenly aware that errors arising from confusion over how and when rounding occurs can, on occasion, run to hefty sums.
As the world's leading and most diverse derivatives marketplace, CME Group is where the world comes to manage risk. Comprised of four exchanges - CME, CBOT, NYMEX and COMEX - we offer the widest range of global benchmark products across all major asset classes, helping businesses everywhere mitigate the myriad of risks they face in today's uncertain global economy.
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CME Group is the world's leading and most diverse derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX.