|Price Quotation||Points ($1,000) and 1/32 of a point. For example, 134-16 represents 134 16/32. Par is on the basis of 100 points.|
|Trading Hours||SUN - FRI: 5:00 p.m. - 4:00 p.m.|
|Minimum Price Fluctuation||One thirty-second (1/32) of one point ($31.25), except for intermonth spreads, where the minimum price fluctuation shall be one-quarter of one thirty-second of one point ($7.8125 per contract).|
|Product Code||CME Globex: ZBCME ClearPort: 17Clearing: 17|
|Listed Contracts||The first three consecutive contracts in the March, June, September, and December quarterly cycle.|
|Termination Of Trading||Seventh business day preceding the last business day of the delivery month. Trading in expiring contracts closes at 12:01 p.m. on the last trading day.|
|Settlement Procedures||Treasury Settlement Procedures|
|Position Limits||CBOT Position Limits|
|Exchange Rulebook||CBOT 18|
|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|
|Delivery Procedure||Federal Reserve book-entry wire-transfer system.|
|Last Delivery Date||Last business day of the delivery month.|
|Grade And Quality||U.S. Treasury bonds that have remaining term to maturity of at least 15 years and less than 25 years from the first day of the futures delivery month.* The delivery invoice amount equals the futures settlement price times a conversion factor, plus accrued interest. The conversion factor is the price of the delivered bond ($1 par value) to yield 6 percent.
*For more information, please refer to T-Bond Basket Gap Decision.
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