Face value at maturity of $100,000
Points and fractions of points with par on the basis of 100 points
SUN - FRI: 5:00 p.m. - 4:00 p.m.
Minimum Price Fluctuation
One-eighth of one thirty-second (1/32) of one point ($7.8125, rounded to the nearest cent per contract), including intermonth spreads.
CME Globex: ZF
CME ClearPort: 25
The first three consecutive contracts in the March, June, September, and December quarterly cycle.
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.
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.