Face value at maturity of $100,000
Points and fractions of points with par on the basis of 100 points
Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)
Minimum Price Fluctuation
Outrights: One-half of one thirty-second (1/32) of one point = $15.625Spreads: One-quarter of one thirty-second (1/32) of one point = $7.8125.
CME Globex: ZN
CME ClearPort: 21
Quarterly contracts (Mar, Jun, Sep, Dec) listed for 3 consecutive quarters.
Termination Of Trading
Trading terminates on the seventh business day preceding the last business day of the delivery month. Trading in expiring contracts closes at 12:01 p.m. on the last trading day.
Federal Reserve book-entry wire-transfer system.
Last Delivery Date
Last business day of the delivery month.
Grade And Quality
U.S. Treasury notes with a remaining term to maturity of at least six and a half 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 6 percent.