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10-Year U.S. Treasury Note
Product Snapshot: 10-Year U.S. Treasury Note Futures
This product is based on the benchmark 10-Year U.S. Treasury Note, a negotiable debt obligation issued by the U.S. government and backed by its full faith and credit.
10-Year U.S. Treasury Note futures provide a way to:
- Hedge interest rate risk at the longer end of the yield curve
- Express a view on the direction of interest rates at the longer end of the yield curve
- Execute a wide range of trading strategies including:
- Yield curve trades against other Treasury futures
- Spread trades against other CME Group Interest Rate products
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View free real-time quotes on a variety of electronically traded CME Group products
New Market Maker Programs for Interest Rates Products
With the migration of CBOT products to CME Globex on January 27, 2008, CME Group is pleased to announce new electronic market maker programs for 30-Day Fed Funds and CBOT Interest Rate Swap futures, and U.S. Treasury and 30-Day Fed Funds options.
Tick Changes Pending for U.S. Treasury Products and Block Trading Approved for CBOT Interest Rate Products
Beginning March 3, 2008 CME Group will reduce the minimum tick size for three of its most actively traded U.S. Treasury contracts.
New Liquidity Link II Program for CBOT Interest Rate Products
CME Group has announced technology and product enhancements designed to create a more liquid and efficient marketplace.
| Trade Unit | One U.S. Treasury note having a face value at maturity of $100,000. U.S. Treasury notes with remaining term to maturity of at least six and one half years, but not more than 10 years, from the first day of the delivery month. The invoice price equals the futures settlement price times a conversion factor, plus accrued interest. The conversion factor is the price of the delivered note ($1 par value) to yield 6 percent. | ||
| Settle Method | Delivery | ||
| Point (Tick) Size | Quoted in points ($1,000) and halves of 1/32 of a point. For example, 84-16 represents 84 16/32, and 84-165 represents 84 16.5/32. | ||
| Strike Price Interval | |||
| Strike | |||
| Limits/Price Banding | No limits | ||
| Minimum Fluctuation |
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| Trading Hours | Sunday/Friday 5:30 p.m.-4:00 p.m. CT; Shutdown period from 4:00 p.m. to 5:00 p.m. nightly | ||
| Listed | All listed intervals | ||
| Product Codes | Clearing: 21 Open Outcry: TY Globex: ZN | ||
| Minimum Block Size | |||
| Product Calendar | First five consecutive contracts in the Mar, Jun, Sep and Dec quarterly cycle View current product listings |
| Trade Unit | One U.S. Treasury note having a face value at maturity of $100,000. U.S. Treasury notes with remaining term to maturity of at least six and one half years, but not more than 10 years, from the first day of the delivery month. The invoice price equals the futures settlement price times a conversion factor, plus accrued interest. The conversion factor is the price of the delivered note ($1 par value) to yield 6 percent. | ||
| Settle Method | Delivery | ||
| Point (Tick) Size | Quoted in points ($1,000) and halves of 1/32 of a point. For example, 84-16 represents 84 16/32, and 84-165 represents 84 16.5/32. | ||
| Strike Price Interval | |||
| Strike | |||
| Limits/Price Banding | No limits | ||
| Minimum Fluctuation |
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| Trading Hours | Open Auction: 7:20 am - 2:00 pm, Central Time, Monday - Friday | ||
| Listed | All listed series | ||
| Product Codes | Clearing: 21 Open Outcry: TY Globex: ZN | ||
| Minimum Block Size | |||
| Product Calendar | First five consecutive contracts in the Mar, Jun, Sep and Dec quarterly cycle View current product listings |
New Market Maker Programs for Interest Rates Products
With the migration of CBOT products to CME Globex on January 27, 2008, CME Group is pleased to announce new electronic market maker programs for 30-Day Fed Funds and CBOT Interest Rate Swap futures, and U.S. Treasury and 30-Day Fed Funds options.
Tick Changes Pending for U.S. Treasury Products and Block Trading Approved for CBOT Interest Rate Products
Beginning March 3, 2008 CME Group will reduce the minimum tick size for three of its most actively traded U.S. Treasury contracts.
New Liquidity Link II Program for CBOT Interest Rate Products
CME Group has announced technology and product enhancements designed to create a more liquid and efficient marketplace.
| Contract Month | Product Code | First Trade Date | Last Trade Date | Settlement Date | |
| JUN08 | 21M08 | 03/22/2007 |  |
06/19/2008 | 06/19/2008 |
| SEP08 | 21U08 | 06/21/2007 | |
09/19/2008 | 09/19/2008 |
| DEC08 | 21Z08 | 09/20/2007 | |
12/19/2008 | 12/19/2008 |
| MAR09 | 21H09 | 12/20/2007 | |
03/20/2009 | 03/20/2009 |
| JUN09 | 21M09 | 03/20/2008 | |
06/19/2009 | 06/19/2009 |
New Market Maker Programs for Interest Rates Products
With the migration of CBOT products to CME Globex on January 27, 2008, CME Group is pleased to announce new electronic market maker programs for 30-Day Fed Funds and CBOT Interest Rate Swap futures, and U.S. Treasury and 30-Day Fed Funds options.
Tick Changes Pending for U.S. Treasury Products and Block Trading Approved for CBOT Interest Rate Products
Beginning March 3, 2008 CME Group will reduce the minimum tick size for three of its most actively traded U.S. Treasury contracts.
New Liquidity Link II Program for CBOT Interest Rate Products
CME Group has announced technology and product enhancements designed to create a more liquid and efficient marketplace.
|
New Market Maker Programs for Interest Rates Products |