3-YEAR T-NOTE FUTURES - CONTRACT SPECS

Contract Unit Face value at maturity of $200,000
Price Quotation Points and fractions of points with par on the basis of 100 points
Trading Hours CME Globex: Sunday - Friday 6:00 p.m. - 5:00 p.m.ET (5:00 p.m. - 4:00 p.m. CT).  Monday - Thursday 5:00 p.m. - 6:00 p.m. ET (4:00 p.m. - 5:00 p.m. CT) daily maintenance period.
CME ClearPort: Sunday 5:00 p.m. - Friday 5:45 p.m. CT with no reporting Monday - Thursday from 5:45 p.m. – 6:00 p.m. CT
Minimum Price Fluctuation 1/8 of 1/32 of a point (0.00390625) = $7.8125
Product Code CME Globex: Z3N
CME ClearPort: 3YR
Clearing: 3YR
Listed Contracts Quarterly contracts (Mar, Jun, Sep, Dec) listed for 3 consecutive quarters
Settlement Method Deliverable
Termination Of Trading Trading terminates at 12:01 p.m. CT, on the last business day of the contract month. 
Settlement Procedures Treasury Settlement Procedures
Position Limits CBOT Position Limits
Exchange Rulebook CBOT 39
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 Third business day following the last trading day.
Grade And Quality U.S. Treasury notes that have an original maturity of not more than 7 years and a remaining maturity of not less than 2 years and 9 months from the first day of the delivery month but not more than 3 years from the last 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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