|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||
Nearby delivery month:
0.0025 price points (¼ of one basis point per year), equal to $10.4175 per contract.
First-deferred delivery month:
0.005 price points (1/2 of one basis point per year), equal to $20.835 per contract, provided that when first day of contract delivery month is Tue, Wed, Thurs, or Fri, minimum price increment becomes 0.0025 price points, equal to $10.4175 per contract, as of Trading Day immediately following last Sunday of the month preceding the contract delivery month.
All other delivery months:
0.005 price points (1/2 of one basis point per year), equal to $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||The last day of trading in an expiring futures contract shall be the last Business Day of such contract’s delivery month. Trading in expiring futures shall terminate at the close of the Trading Day on the last day of trading.|
|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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