| Underlying Unit |
One U.S. Treasury bond having a face value at maturity of $100,000. |
| Deliverable Grades |
U.S. Treasury bonds that, if callable, are not callable for at least 15 years from the first day of the delivery month or, if not callable, have a remaining term to maturity of at least 15 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 bond ($1 par value) to yield 6 percent. |
| Price Quote |
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. |
Tick Size
(minimum 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). |
| Contract Months |
The first three consecutive contracts in the March, June, September, and December quarterly cycle. |
| Last Trading Day |
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. |
| Last Delivery Day |
Last business day of the delivery month. |
| 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 18 |
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. |
