Ultra 10-Year Futures and Options

Strikingly Powerful Tools for Trading 10-Year Treasury Exposure

Ultra 10 futures (TN) continue to grow, with 450 total participants now benefiting from a more efficient, off-balance-sheet, and precise way to trade 10-year Treasury exposure.

Quarterly Product Update

Product Last Change Chart Globex Vol
131'120 -0'115 Show Price Chart 90,584

Ultra 10 2-Year Anniversary Milestones

  • Most successful launch in our 170 years with 47 million contracts traded
  • Record average daily volume of 141K in Q4 2107
  • Record open interest of 530K ($53B notional) on 12/5/17
  • Record 86 large OI holders as of 12/19/17, up from 52 at the start of 2017
  • Avg top of book depth of 170 contracts in Q4 2017, from 94 in Q1 2017
  • Block fee reduced for futures and options to match the all-in rate for pit transactions through January 31, 2019

Ultra 10 Products and Specifications

Clearing CME Globex Floor CME ClearPort Product Name Subgroup Exchange Volume Open Interest
TN TN - TN Ultra 10-Year U.S. Treasury Note Futures US Treasury CBOT 152,741 532,550
TN OTN TN TN Ultra 10-Year U.S. Treasury Note Options US Treasury CBOT 25 25
TN1 TN1 TN1 TN1 Ultra 10-Year U.S. Treasury Note Weekly Options Wk 1 US Treasury CBOT 0 0
TN3 TN3 TN3 TN3 Ultra 10-Year U.S. Treasury Note Weekly Options Wk 3 US Treasury CBOT 0 0
TN2 TN2 TN2 TN2 Ultra 10-Year U.S. Treasury Note Weekly Options Wk 2 US Treasury CBOT 0 0
TN4 TN4 TN4 TN4 Ultra 10-Year U.S. Treasury Note Weekly Options Wk 4 US Treasury CBOT 0 0
Trade Date: 17 Jan 2018 | PRELIMINARY

Key Benefits

  • Deliverable basket is original issue 10-Year U.S Treasury Notes, with remaining terms to maturity at delivery of at least 9 years, 5 months and not more than 10 years 
  • Highly complementary to existing benchmarks, enabling new spread and curve trading opportunities 
  • Automatic margin offsets versus existing interest rate products, and eligibility for portfolio margining with CME-cleared interest rate swaps 
  • Weekly, monthly and quarterly options available on a liquid futures contract with more than 350,000 in open interest
  • Market makers providing electronic markets

Watch our Interest Rates product team discuss the new Ultra 10 futures and options.

Quote Vendor Symbol Guide

CME Symbol Futures TN Options OTN
Bloomberg UXY UXY
ThomsonReuters** 0#1TN:  0#1TN+
TT TN OTN
CQG TNA TNA
SunGard TN OTN
Fidessa TN OTN
ION (Pats & FFastFill) TN OTN
Broadway Technology TN OTN
DTN @TN @TN
Celoxica TN OTN
Object Trading TN OTN
ORC & Tbricks TN OTN
Rithmic TN OTN
REDI TN OTN

**Codes for Thomson Reuters:

  • Composite Futures (Globex plus blocks) - 0#TN:
  • Globex Futures - 0#1TN:
  • Globex Options - 0#1TN+
  • Pit Options - 0#2TN+

Resources

Featured Information

Contact Us

For questions or information about the new Ultra 10-Year contracts:

Interest Rates Team

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Tools

View important information surrounding Ultra-10 Year products:
Margin Information
Position Limits