Ultra 10-Year Futures and Options

Strikingly Powerful Tools for Trading 10-Year Treasury Exposure

Ultra 10 futures (TN) continue to grow, with 466 total participants now benefiting from a more efficient, off-balance-sheet, and precise way to trade 10-year Treasury exposure.

Quarterly Product Update

Product Last Change Chart Globex Vol

2018 Highlights (Through Q3)

  • Average daily volume: 181K, +60% vs 2017
  • Average daily open interest: 571K, +46% vs 2017
  • Average top of book depth: 237 contracts, +73% vs 2017 

Ultra 10 Products and Specifications

Clearing CME Globex Floor CME ClearPort Product Name Subgroup Exchange Volume Open Interest
TN TN - TN Ultra 10-Year U.S. Treasury Note Futures US Treasury CBOT 212,656 692,902
TN OTN OTN TN Ultra 10-Year U.S. Treasury Note Options US Treasury CBOT 0 60
TN1 TN1 TN1 TN1 Ultra 10-Year U.S. Treasury Note Weekly Options Wk 1 US Treasury CBOT 0 0
TN3 TN3 TN3 TN3 Ultra 10-Year U.S. Treasury Note Weekly Options Wk 3 US Treasury CBOT 0 0
TN2 TN2 TN2 TN2 Ultra 10-Year U.S. Treasury Note Weekly Options Wk 2 US Treasury CBOT 0 0
TN4 TN4 TN4 TN4 Ultra 10-Year U.S. Treasury Note Weekly Options Wk 4 US Treasury CBOT 0 0
Trade Date: 15 Nov 2018 | FINAL

Key Benefits

  • Deliverable basket is original issue 10-Year U.S Treasury Notes, with remaining terms to maturity at delivery of at least 9 years, 5 months and not more than 10 years 
  • Highly complementary to existing benchmarks, enabling new spread and curve trading opportunities 
  • Automatic margin offsets versus existing interest rate products, and eligibility for portfolio margining with CME-cleared interest rate swaps 
  • Weekly, monthly and quarterly options available on a highly liquid futures contract
  • Market makers providing electronic markets

Watch our Interest Rates product team discuss the new Ultra 10 futures and options.

Quote Vendor Symbol Guide

CME Symbol Futures TN Options OTN
Bloomberg UXY UXY
ThomsonReuters** 0#1TN:  0#1TN+
TT TN OTN
CQG TNA TNA
SunGard TN OTN
Fidessa TN OTN
ION (Pats & FFastFill) TN OTN
Broadway Technology TN OTN
DTN @TN @TN
Celoxica TN OTN
Object Trading TN OTN
ORC & Tbricks TN OTN
Rithmic TN OTN
REDI TN OTN

**Codes for Thomson Reuters:

  • Composite Futures (Globex plus blocks) - 0#TN:
  • Globex Futures - 0#1TN:
  • Globex Options - 0#1TN+
  • Pit Options - 0#2TN+

Resources

Featured Information

Contact Us

For questions or information about the new Ultra 10-Year contracts:

Interest Rates Team

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Tools

View important information surrounding Ultra-10 Year products:
Margin Information
Position Limits