In response to client demand for an additional tenor point on the short-end of the curve, and to better serve the evolving needs of today’s treasury environment, CME Group introduced an enhanced 3-Year Treasury Note futures contract on July 13, 2020.
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Contract Unit
Face value at maturity of $200,000
MINIMUM PRICE FLUCTUATION
One-eighth (1/8) of one thirty-second (1/32) of a point (1/256.) = $7.8125 ($2000 x 0.00390625)
Product Code
CME Globex: Z3N
CME ClearPort: 3YR
Clearing: 3YR
Trading Hours
Sunday - Friday: 5:00 p.m. - 4:00 p.m. CT
Track forward-looking risk expectations on U.S. Treasuries with the CME Group Volatility Index (CVOLTM), a robust measure of 30-day implied volatility derived from deeply liquid options on Treasury futures.
Products
SOFR futures
As the leading source of liquidity on the Secured Overnight Financing Rate (SOFR), CME SOFR futures are increasingly relied upon for managing exposure to short-term funding markets. SOFR futures trade alongside Eurodollars and Fed Funds to offer seamless spread trading and margin offsets of up to 70%.
Vendor Codes
| OUTRIGHTS | 2Y V. 3Y | 3Y V. 5Y | 3Y V. 10Y | 3Y V. ULTRA 10Y | 3Y V. T-BOND | 3Y V. ULTRA BOND | |
|---|---|---|---|---|---|---|---|
| CME Globex | Z3N | TYT | TOF | TUN | TYX | TOB | TOU |
| CME ClearPort / Clearing | 3YR | ||||||
| Bloomberg | 3Y | ||||||
| CQG | Z3N | TYT | TOF | TUN | GTYX | TOB | TOU |
| DTN | @3N | @TYT | @TOF | @TUN | @TYX | @TOB | @TOU |
| Fidessa | Z3N | TYT | TOF | TUN | TYX | TOB | TOU |
| FIS Global | Z3N | TYT | TOF | TUN | TYX | TOB | TOU |
| ION (Pats, FFastFill) | Z3N | TYT | TOF | TUN | TYX | TOB | TOU |
| Itiviti (Orc, Tbricks) | Z3N | TYT | TOF | TUN | TYX | TOB | TOU |
| Refinitiv Globex RIC Root | 1Y | 1TYT-1TYT | 1TOF-1TOF | 1TUN-1TUN | 1TYX-1TYX | 1TOB-1TOB | 1TOU-1TOU |
| Refinitiv Composite RIC Root | YR | ||||||
| TT | Z3N | ZT|Z3N | Z3N|ZF | Z3N|ZN | Z3N|TN | Z3N|ZB | Z3N|UB |
| Vela | Z3N | TYT | TOF | TUN | TYX | TOB | TOU |
Block Market Makers
| FIRM NAME | CONTACT(S) | PHONE NUMBER | HOURS |
|---|---|---|---|
| Credit Suisse | Avery Geehr | +1 212 325 3337 | RTH |
| Deutsche Bank | John Carpinello | +1 212 250 2860 | RTH |
| Ambrish Shah | +1 212 250 2860 | RTH | |
| DRW | Joe Meissner | +1 312 542 1090 | RTH |
| Goldman Sachs | Jerry Strabley | +1 212 902 5010 | RTH |
| James Groth | James Groth | +1 773 307 2566 | All Hours |
| JP Morgan Securities LLC | Peter Isola | +1 212 834 4652 | RTH |
| Morgan Stanley | Reed Staub | +1 212 761 1724 | RTH |
| Nomura | Jin Hayashida | +1 813 6703 9407 | ATH, ETH |
Synthetic Price History
Based on settlements for the Cheapest to Deliver cash Treasury note, with repo financing, this theoretical price series can serve to level set a new trading point on the futures curve.
View the latest insights on trends in the Interest Rate futures and options market.
Get updates on 3-Year T-Note futures
Be the first to hear new developments about our 3-Year T-Note futures products.
Track forward-looking risk expectations on U.S. Treasuries with the CME Group Volatility Index (CVOLTM), a robust measure of 30-day implied volatility derived from deeply liquid options on Treasury futures.
