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 from 5:45 p.m. – 6:00 p.m. CT | |
Minimum Price Fluctuation | One-quarter of one thirty-second (1/32) of one point ($7.8125, rounded to the nearest cent per contract), including intermonth spreads. | ||||
Product Code | CME Globex: ZFCME ClearPort: 25Clearing: 25 | ||||
Listed Contracts | The first three consecutive contracts in the March, June, September, and December quarterly cycle. | ||||
Settlement Method | Deliverable | ||||
Termination Of Trading | Last business day of the calendar 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 20 | ||||
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 with an original term to maturity of not more than five years and three months and a remaining term to maturity of not less than four years and two months as of 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. |
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.
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