|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||CME Globex:||SUN - FRI: 5:00 p.m. - 4:00 p.m.||CME ClearPort:||Sunday 5:00 p.m. - Friday 5:45 p.m. CT with no reporting Monday - Thursday 5:45 p.m. – 6:00 p.m. CT|
|Minimum Price Fluctuation||
1/32 of a point = $31.25
Calendar spreads: one-quarter of 1/32 of a point = $7.8125
|Product Code||CME Globex: ZBCME ClearPort: 17Clearing: 17|
|Listed Contracts||Quarterly contracts (Mar, Jun, Sep, Dec) listed for 3 quarters|
|Termination Of Trading||Trading terminates at 12:01 p.m. CT on the 7th business day prior to the last business day of the contract month.|
|Settlement Procedures||Treasury Settlement Procedures|
|Position Limits||CBOT Position Limits|
|Exchange Rulebook||CBOT 18|
|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 bonds that have remaining term to maturity of at least 15 years and less than 25 years from the first day of the futures delivery month.* The delivery invoice amount equals the futures settlement price times a conversion factor, plus accrued interest. The conversion factor is the price of the delivered bond ($1 par value) to yield 6 percent.
*For more information, please refer to T-Bond Basket Gap Decision.
Whether you are a new trader looking to get started in futures, or an experienced trader looking for a more efficient way to trade the U.S. government bond market, look no further than U.S. Treasury futures.