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Ultra U.S. Treasury Bond Futures

Contract Unit

Face value at maturity of $100,000

Price Quotation

Points and fractions of points with par on the basis of 100 points

Trading Hours

Sunday - Friday 5:00 p.m. - 4:00 p.m. CT with a 60-minute break each day beginning at 4:00 p.m.

Minimum Price Fluctuation

One 32nd of one point ($31.25 per contract), except for intermonth spreads for which the minimum price increment is one quarter of one thirty-second of one point ($7.8125).

Product Code

CME Globex: UB

CME ClearPort: UBE

Clearing: UBE

Listed Contracts

The first three consecutive contracts in the March, June, September, and December quarterly cycle.

Settlement Method

Deliverable

Termination Of Trading

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.

Last Delivery Date

Last business day of the delivery month.

Grade And Quality

U.S. Treasury bonds with remaining term to maturity of not less than 25 years from the first day of the futures contract 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 bond ($1 par value) to yield 6 percent.