5-YEAR T-NOTE OPTIONS - CONTRACT SPECS

Contract Unit	1 futures contract with face value at maturity of $100,000
Minimum Price Fluctuation	Outright:	1/2 of 1/64 of a point (0.0078125= $7.8125
	CAB	$1.00 increments from $1.00 - $7.00
Price Quotation	Points and fractions of points with par on the basis of 100 points
Trading Hours	CME Globex:	Sunday - Friday: 5:00 p.m. - 4:00 p.m. CT
	Open Outcry:	Monday - Friday: 7:20 a.m. - 2:00 p.m. CT
	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
Product Code	CME Globex: OZF CME ClearPort: 25 Open Outcry: Put: FP Call: FL Clearing: 25
Listed Contracts	Quarterly contracts (Mar, Jun, Sep, Dec) listed for 3 quarters and 3 serial contracts
Termination Of Trading	Trading terminates on the Friday before the 2nd last business day of the month prior to the contract month. If this is not a business day, trading terminates on the prior business day.
Position Limits	CBOT Position Limits
Exchange Rulebook	CBOT Chapter 20A
Block Minimum	Block Minimum Thresholds
Price Limit Or Circuit	Price Limits
Vendor Codes	Quote Vendor Symbols Listing
Strike Price Listing Procedures	Strike prices will be listed in increments of one-quarter of one point. The minimum strike price range will include the at-the-money strike price closest to the current futures price plus the next twenty four (24) consecutive higher and the next twenty four (24) consecutive lower strike prices.
Exercise Style	American-style. The buyer of an option may exercise the option on any business day prior to expiration by giving notice to CME Clearing by 5:30 p.m. Options that expire in-the-money after the close on the last trading day are automatically exercised, unless specific instructions are given to CME Clearing by 5:30 p.m.
Exercise Procedure	Serials exercise into the first nearby quarterly futures contract Quarterlies exercise into the corresponding futures contracts
Settlement Method	Deliverable
Underlying	Medium-Term U.S. Treasury Note Futures

Contract Unit	1 futures contract with face value at maturity of $100,000
Minimum Price Fluctuation	Outright:	1/2 of 1/64 of 1 point (0.0078125) = $7.8125
	CAB	$1.00 increments from $1.00 - $7.00
Price Quotation	Points and fractions of points with par on the basis of 100 points
Trading Hours	CME Globex:	Sunday 5:00 p.m. - Friday - 4:00 p.m. CT with a 60-minute break each day beginning at 4:00 p.m. CT
	Open Outcry:	MON - FRI: 7:20 a.m. - 2:00 p.m.
	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
Product Code	CME Globex: ZF1,ZF2,ZF3,ZF4,ZF5 CME ClearPort: FV1,FV2,FV3,FV4,FV5 Open Outcry: FV1,FV2,FV3,FV4,FV5 Clearing: FV1,FV2,FV3,FV4,FV5
Listed Contracts	Weekly contracts listed for 3 consecutive weeks. No weekly contract listed the week of the monthly, quarterly or serial option expiration.
Termination Of Trading	Trading terminates on Friday of the contract week.
Position Limits	CBOT Position Limits
Exchange Rulebook	CBOT 20A
Block Minimum	Block Minimum Thresholds
Price Limit Or Circuit	Price Limits
Vendor Codes	Quote Vendor Symbols Listing
Strike Price Listing Procedures	Strike prices will be listed in increments of one-quarter of one point. The minimum strike price range will include the at-the-money strike price closest to the current futures price plus the next twenty four (24) consecutive higher and the next twenty four (24) consecutive lower strike prices.
Exercise Style	American
Settlement Method	Deliverable
Underlying	Medium-Term U.S. Treasury Note Futures

Contract Unit	1 futures contract with face value at maturity of $100,000
Minimum Price Fluctuation	Outright:	1/2 of 1/64th of 1 point (0.0078125) = $7.8125
	CAB	$1.00 increments from $1.00 - $7.00
Price Quotation	Points and fractions of points with par on the basis of 100 points
Trading Hours	CME Globex:	Sunday 5:00 p.m. - Friday - 4:00 p.m. CT with a 60-minute break each day beginning at 4:00 p.m. CT
	Open Outcry:	Mon - Fri: 7:20 a.m. - 2:00 p.m. CT
	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
Product Code	CME Globex: WF1,WF2,WF3,WF4,WF5 CME ClearPort: WF1,WF2,WF3,WF4,WF5 Open Outcry: WF1,WF2,WF3,WF4,WF5 Clearing: WF1,WF2,WF3,WF4,WF5
Listed Contracts	Weekly contracts listed for 2 consecutive weeks
Termination Of Trading	Trading terminates on Wednesday of the contract week.
Position Limits	CBOT Position Limits
Exchange Rulebook	CBOT 20A
Block Minimum	Block Minimum Thresholds
Price Limit Or Circuit	Price Limits
Vendor Codes	Quote Vendor Symbols Listing
Strike Price Listing Procedures	Strike prices will be listed in increments of one-quarter of one price point. The minimum strike price range will include the strike price closest to the current underlying futures contract settlement price (at-the-money price) plus the next twenty four (24) consecutive higher and the next twenty four (24) consecutive lower strike prices.
Exercise Style	American Style: The buyer of an option may exercise the option on any business day prior to expiration by giving notice to CME Clearing by 5:30 p.m. CT. Following termination of trading, options that expire in?the?money are automatically exercised into underlying futures, with no allowance for contrary instruction. Automatic exercise is determined in relation to the daily settlement price of the option’s underlying futures contract.
Settlement Method	Deliverable
Underlying	Medium-Term U.S. Treasury Note Futures

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