|Price Quotation||100 minus the average daily Fed Funds overnight rate for the delivery month (e.g., a 7.25 percent rate equals 92.75).|
|Trading Hours||SUN - FRI: 5:00 p.m. - 4:00 p.m.|
|Minimum Price Fluctuation||Nearest expiring contract month: One-quarter of one basis point (0.0025), or $10.4175 per contract (1/4 of 1/100 of one percent of $5 million on a 30-day basis, rounded up to the nearest cent per contract). All other contract months: One-half of one basis point (0.005), or $20.835 per contract.|
|Product Code||CME Globex: ZQCME ClearPort: 41Clearing: 41|
|Listed Contracts||First 36 calendar months|
|Settlement Method||Financially Settled|
|Termination Of Trading||Last business day of the delivery month. Trading in expiring contracts closes at 4:00 p.m. on the last trading day.|
|Settlement Procedures||Expiring contracts are cash settled against the average daily Fed Funds overnight rate for the delivery month, rounded to the nearest one-tenth of one basis point. Final settlement occurs on the first business day following the last trading day. The daily Fed Funds overnight rate is calculated and reported by the Federal Reserve Bank of New York.
|Position Limits||CBOT Position Limits|
|Exchange Rulebook||CBOT 22|
|Block Minimum||Block Minimum Thresholds|
|Price Limit Or Circuit||Price Limits|
|All Or None Minimum||All or None Minimums|
|Vendor Codes||Quote Vendor Symbols Listing|
Daily Reports and Settlements
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