Contact Specifications | Trade Futures
Trading Unit One U.S. Treasury note having a face value at maturity of $100,000 or multiple thereof
U.S. Treasury notes maturing at least 6 1/2 years, but not more than 10 years, from 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 8 percent.
Points ($1,000) and thirty-seconds of a point; for example, 82-16 equals 82 16/32
1/32 of a point ($31.25/contract); par is on the basis of 100 points
Daily Price Limit
3 points ($3,000/contract) above or below the previous days settlement price (expandable to 4 1/2 points). Limits are lifted the second business day preceding the first day of the delivery month.
Mar, Jun, Sep, Dec
Federal Reserve book-entry wire-transfer system
Last Trading Day
Seventh business day preceding the last business day of the delivery month
Last Delivery Day
Last business day of the delivery month
7:20 a.m. – 2:00 p.m. Chicago time, Mon-Fri. Project AŽ Afternoon session hours are 2:30 – 4:30 p.m. Chicago time, Mon-Thu and the Project AŽ Overnight* session hours are from 5:55 p.m. – 6:45 a.m., Sun-Thu. Trading in expiring contracts closes at noon on the last trading day.