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Ultra U.S. Treasury Bond Futures Contract Specs

Price Quotation Points ($1,000 per contract) and 32nds of one point ($31.25 per contract). For example, 91-16 equals 91-16/32, 91-17 equals 91-17/32, and 91-18 equals 91-18/32.
Trading Hours SUN-FRI: 5:00 p.m. - 4:00 p.m.
Minimum Price Fluctuation One 32nd of one point ($31.25 per contract), except for intermonth spreads for which the minimum price increment is one quarter of one thirty-second of one point ($7.8125)
Product Code CME Globex: UB
CME ClearPort: UBE
Clearing: UBE
Listed Contracts The first three consecutive contracts in the March, June, September, and December quarterly cycle.
Settlement Method Deliverable
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 40
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
Last Delivery Date Last business day of the delivery month.
Grade And Quality U.S. Treasury bonds with remaining term to maturity of not less than 25 years from the first day of the futures contract 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.