Contact Specifications | Trade Futures
Trading Unit $1,000 times the closing value of The Bond Buyer™ Municipal Bond Index.* A price of 90-00 reflects a contract size of $90,000.
Points ($1,000) and thirty-seconds of a point; for example, 85-16 equals 85 16/32
1/32 of a point ($31.25/contract)
Daily Price Limit
3 points ($3,000/contract) above or below the previous day’s settlement price (expandable to 4 1/2 points)
Mar, Jun, Sep, Dec
Last Trading Day
Seventh business day preceding the last business day of the delivery month
Municipal Bond Index futures settle in cash on the last day of trading. Settlement price equals The Bond Buyer™ municipal bond index value on that day.
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 10:00 p.m. – 6:45 a.m., Sun-Thu. Trading in expiring contracts closes at 2:00 p.m. on the last trading day.