3-Year U.S. Treasury Note

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3-Year U.S. Treasury Note Futures

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Contract Specifications

3-Year U.S. Treasury Note Futures

Underlying Instrument	One (1) U.S. Treasury note having a face value at maturity of $200,000 or multiples thereof.
Deliverable Grades	U.S. Treasury notes that have an original maturity of not more than 5 years and 3 months and a remaining maturity of not less than 2 years and 9 months from the first day of the delivery month but not more than 3 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 quarter-32nds of a point ($15.625). For example, 91-16 equals 91-16/32, 91-162 equals 91-16.25/32, 91-165 equals 91-16.5/32, and 91-167 equals 91-16.75/32.

Tick Size(Min Fluctuations)

One-quarter of one thirty-second of one point ($15.625).

Contract Months

Five consecutive expiries in the March, June, September, and December quarterly cycle.

Last Trading Day

The last business day of the contract expiry month. Trading in expiring contracts closes at 12:01 p.m., Central Time (CT), 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.

Trading Hours

Open Auction: 7:20 a.m. – 2:00 p.m., CT, Monday – Friday CME Globex: 5:30 p.m. – 4:00 p.m., CT, Sunday – Friday

Ticker Symbols

Open Outcry: 3YR CME Globex: Z3N

Daily Price Limit

None

Position Accountability / Limits

Position accountability of 7,500 futures contracts will be implemented prior to the last ten trading days of a contract expiry. Position limits of 20,000 futures contracts will be implemented during the last ten trading days of a contract expiry.

Reportable Position Limits

Current Position Limits

Block Minimum

Block Trade Minimums

All-or-None Minimum

All or None Minimums