Micro-sized treasuries, major possibilities
Discover a streamlined, intuitive approach to trading interest rate markets with Micro Treasury Yield futures, contracts based on one of the world's largest and most influential markets.
Directly references a well-known US Treasury market metric: yields of recently auctioned (or, on the run) Treasury securities, the most followed issues within each tenor.
Trade the four most watched points on the curve: 2-Year Notes, 5-Year Notes, 10-Year Notes, and 30-Year Bonds, anchored by BrokerTec US Treasury benchmarks.
All four contracts are sized at a constant basis point value of $10/basis point of yield (0.01%), making it easier to spread trade. Take positions on the rate’s direction or the yield curve’s shape.
Small BPV enables a low-cost alternative to other interest rate offerings and brings more flexibility to how active traders manage interest rate exposure.
Learn more with our library of courses, lessons, in-depth reads, and videos to familiarize yourself with the contracts and ways you can use them.
Video: Analyzing Micro Treasury Yield Market for Entry
In this Trader’s Edge, Jim Iuorio looks at Micro 10-Year Yield data for order entry points he might use.
Video: WTI Crude Oil/10-Year Yield relationship
In this Trader’s Edge, Jim Iuorio explores the crude oil and 10-year yield relationship.
Lesson: Micro Treasury Yield case studies and analytical tools
Learn which tools can help you analyze the contract data and apply related insights.
Whitepaper: Introducing Micro Treasury Yield futures
Learn how these futures were born to meet the need for a streamlined way to manage rates exposure.
Webinar replay: contract overview
Three CME Group team members offer useful context about the contract details, uses, and more.
|MICRO 2-YEAR YIELD FUTURES||MICRO 5-YEAR YIELD FUTURES||MICRO 10-YEAR YIELD FUTURES||MICRO 30-YEAR YIELD FUTURES|
|SETTLEMENT||Cash-settled to BrokerTec 2-Year benchmark||Cash-settled to BrokerTec 5-Year benchmark||Cash-settled to BrokerTec 10-Year benchmark||Cash-settled to BrokerTec 30-Year benchmark|
|PRICE CONVENTION||US Treasury Yield|
|CONTRACT SIZE||$10.00 DV01|
|TICK SIZE||$1.00 (1/10 of 1 bp)|
|# OF EXPIRIES||2 nearest monthly contracts|
|TERMINATION||Last Business Day of Month|
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Micro Treasury Yield futures trade around the clock and are settled daily at 3:00 p.m. Eastern Time to corresponding BrokerTec US Treasury benchmarks. These benchmarks reflect activity in BrokerTec’s leading marketplace for cash US Treasuries, publishing corresponding volume-weighted average yield four times a day.
CME Direct users can import a trading grid populated with Micro Treasury Yield futures contracts below to quickly add them to your CME Direct screen:
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