| Underlying Unit |
One U.S. Treasury note having a face value at maturity of $200,000. |
| Deliverable Grades |
U.S. Treasury notes with an original term to maturity of not more than five years and three months and a remaining term to maturity of not less than one year and nine months from the first day of the delivery month and a remaining term to maturity of not more than two years from the last 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. |
| Price Quote |
Points ($2,000) and quarters of 1/32 of a point. For example, 109-16 represents 109 16/32, 109-162 represents 109 16.25/32, 109-165 represents 109 16.5/32, and 109-167 represents 109 16.75/32. Par is on the basis of 100 points. |
Tick Size
(minimum fluctuation) |
One-quarter of one thirty-second (1/32) of one point ($15.625, rounded up to the nearest cent per contract), including intermonth spreads. |
| Contract Months |
The first five consecutive contracts in the March, June, September, and December quarterly cycle. |
| Last Trading Day |
Last business day of the calendar month. Trading in expiring contracts closes at 12:01 p.m. on the last trading day. |
| Last Delivery Day |
Third business day following the last trading day. |
| Delivery Method |
Federal Reserve book-entry wire-transfer system. |
| Settlement |
U.S. Treasury Futures Settlement Procedures |
| Position Limits |
Current Position Limits |
| Block Minimum |
Block Trade Minimums |
| All or None Minimum |
All or None Minimums |
| Rulebook Chapter |
CBOT Chapter 21 |
Trading Hours
(All times listed are Central Time) |
OPEN OUTCRY
MON - FRI: 7:20 a.m. - 2:00 p.m.
CME GLOBEX
SUN - FRI: 5:30 p.m. - 4:00 p.m.
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| Ticker Symbol |
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| Exchange Rule |
These contracts are listed with, and subject to, the rules and regulations of CBOT. |
