Inform your Dec19-Mar20 Treasury roll strategy with our Pace of the Roll tool, now featuring more granular historical filters for comparing the pace of the current roll to past periods.
10-Year T-Note Futures Contract Specs
| Contract Unit | Face value at maturity of $100,000 | ||||
| Price Quotation | Points and fractions of points with par on the basis of 100 points | ||||
| Trading Hours | Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT) | ||||
| Minimum Price Fluctuation |
Outrights: One-half of one thirty-second (1/32) of one point = $15.625 Spreads: One-quarter of one thirty-second (1/32) of one point = $7.8125 |
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| Product Code | CME Globex: ZNCME ClearPort: 21Clearing: 21 | ||||
| Listed Contracts | Quarterly contracts (Mar, Jun, Sep, Dec) listed for 3 consecutive quarters | ||||
| Settlement Method | Deliverable | ||||
| Termination Of Trading | Trading terminates on the 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 Chapter 19 | ||||
| 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 | ||||
| Delivery Procedure | Federal Reserve book-entry wire-transfer system. | ||||
| Last Delivery Date | Last business day of the delivery month. | ||||
| Grade And Quality | U.S. Treasury notes with a remaining term to maturity of at least six and a half years, but not more than 10 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 note ($1 par value) to yield 6 percent. | ||||
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