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. New York time/ET (5:00 p.m. - 4:00 p.m. Chicago Time/CT). Monday - Thursday 5:00 p.m. - 6:00 p.m. New York Time/ET (4:00 p.m. - 5:00 p.m. Chicago Time/CT) daily maintenance period.
Minimum Price Fluctuation	One-half of one thirty-second (1/32) of one point ($15.625, rounded to the nearest cent per contract), except for intermonth spreads, where the minimum price fluctuation shall be one-quarter of one thirty-second of one point ($7.8125 per contract).
Product Code	CME Globex: ZN CME ClearPort: 21 Clearing: 21
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 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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