CME Group 10-Year US Treasury Note

10-year U.S. Treasury Note Futures	10-year U.S. Treasury Note Futures 	10-year U.S. Treasury Note Futures
Contract Unit 	Face value at maturity of $100,000 	Face value at maturity of $100,000
Price Quotation 	Points and fractions of points with par on the basis of 100 points 	Points and fractions of points with par on the basis of 100 points
Trading Hours 	CME Globex: 	Sunday - Friday 6:00 p.m. - 5:00 p.m.ET (5:00 p.m. - 4:00 p.m. CT). Monday - Thursday 5:00 p.m. - 6:00 p.m. ET (4:00 p.m. - 5:00 p.m. CT) daily maintenance period.
Trading Hours 	CME ClearPort: 	Sunday 5:00 p.m. - Friday 5:45 p.m. CT with a 15-minute maintenance window. Monday - Thursday from 5:45 p.m. to 6:00 p.m. CT
Minimum Price Fluctuation 	Outrights: One-half of one thirty-second (1/32) of one point = $15.625
Spreads: One-quarter of one thirty-second (1/32) of one point = $7.8125" 	Outrights: One-half of one thirty-second (1/32) of one point = $15.625
Spreads: One-quarter of one thirty-second (1/32) of one point = $7.8125"
Product Code 	CME Globex: ZN
CME ClearPort: 21
Clearing: 21 	CME Globex: ZN
CME ClearPort: 21
Clearing: 21
Listed Contracts 	Quarterly contracts (Mar, Jun, Sep, Dec) listed for 3 consecutive quarters 	Quarterly contracts (Mar, Jun, Sep, Dec) listed for 3 consecutive quarters
Settlement Method 	Deliverable 	Deliverable
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. 	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.
Settlement Procedures 	Treasury Settlement Procedures 	Treasury Settlement Procedures
Position Limits 	CBOT Position Limits 	CBOT Position Limits
Exchange Rulebook 	CBOT Chapter 19 	CBOT Chapter 19
Block Minimum 	Block Minimum Thresholds 	Block Minimum Thresholds
Price Limit or Circuit 	Price Limits 	Price Limits
All or None Minimum 	All or None Minimums 	All or None Minimums
Vendor Codes 	Quote Vendor Symbols Listing 	Quote Vendor Symbols Listing
Delivery Procedure 	Federal Reserve book-entry wire-transfer system. 	Federal Reserve book-entry wire-transfer system.
Last Delivery Date 	Last business day of the delivery month. 	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.	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.
10-year U.S. Treasury Note Options	10-year U.S. Treasury Note Options 	10-year U.S. Treasury Note Options
Contract Unit 	Face value at maturity of $100,000 	Face value at maturity of $100,000
Minimum Price Fluctuation 	1/64 of a point = $15.625.
Variable CAB at $1.00 increments from $1.00 to $15.00 	1/64 of a point = $15.625.
Variable CAB at $1.00 increments from $1.00 to $15.00
Price Quotation 	Points and fractions of points with par on the basis of 100 points 	Points and fractions of points with par on the basis of 100 points
Trading Hours 	CME Globex: 	Sunday - Friday: 5:00 p.m. - 4:00 p.m. CT
Trading Hours 	Open Outcry: 	Monday - Friday: 7:20 a.m. - 2:00 p.m. CT
Trading Hours 	CME ClearPort: 	Sunday 5:00 p.m. - Friday 5:45 p.m. CT with no reporting Monday - Thursday from 5:45 p.m. – 6:00 p.m. CT
Product Code 	CME Globex: OZN
CME ClearPort: 21
Open Outcry: Put: TP Call: TC
Clearing: 21 	CME Globex: OZN
CME ClearPort: 21
Open Outcry: Put: TP Call: TC
Clearing: 21
Listed Contracts 	Quarterly contracts (Mar, Jun, Sep, Dec) listed for 3 quarters and 3 serial contracts
Serials exercise into the first nearby quarterly futures contract
Quarterlies exercise into the corresponding quarterly futures contracts 	Quarterly contracts (Mar, Jun, Sep, Dec) listed for 3 quarters and 3 serial contracts
Serials exercise into the first nearby quarterly futures contract
Quarterlies exercise into the corresponding quarterly futures contracts
Termination of Trading 	Trading terminates on the Friday before the 2nd last business day of the month prior to the contract month. If this is not a business day, trading terminates on the prior business day. 	Trading terminates on the Friday before the 2nd last business day of the month prior to the contract month. If this is not a business day, trading terminates on the prior business day.
Position Limits 	CBOT Position Limits 	CBOT Position Limits
Excahnge Rulebook 	CBOT 19A 	CBOT 19A
Block Minimum 	Block Minimum Thresholds 	Block Minimum Thresholds
Price Limit or Circuit 	Price Limits 	Price Limits
Vendor Codes 	Quote Vendor Symbols Listing 	Quote Vendor Symbols Listing
Strike Price Listing Procedures 	Strike prices will be listed in increments of one-quarter of one point for the nearest monthly (serial or quarterly) expiration. The minimum strike price range will include the at-the-money strike price closest to the current futures price plus the next fifty (50) consecutive higher and the next fifty (50) consecutive lower strike prices. For all other months, Strike prices will be listed in increments of one-half of one point. The minimum strike price range will include the at-the-money strike price closest to the current futures price plus the next fifty consecutive higher and the next fifty consecutive lower strike prices.	Strike prices will be listed in increments of one-quarter of one point for the nearest monthly (serial or quarterly) expiration. The minimum strike price range will include the at-the-money strike price closest to the current futures price plus the next fifty (50) consecutive higher and the next fifty (50) consecutive lower strike prices. For all other months, Strike prices will be listed in increments of one-half of one point. The minimum strike price range will include the at-the-money strike price closest to the current futures price plus the next fifty consecutive higher and the next fifty consecutive lower strike prices.
Exercise Style 	American-style. The buyer of an option may exercise the option on any business day prior to expiration by giving notice to CME Clearing by 6:00 p.m. Options that expire in-the-money after the close on the last trading day are automatically exercised, unless specific instructions are given to CME Clearing by 6:00 p.m. 	American-style. The buyer of an option may exercise the option on any business day prior to expiration by giving notice to CME Clearing by 6:00 p.m. Options that expire in-the-money after the close on the last trading day are automatically exercised, unless specific instructions are given to CME Clearing by 6:00 p.m.
Settlemnt Method 	Deliverable 	Deliverable
Underlying 	10-Year T-Note Futures 	10-Year T-Note Futures
																									
== Notes ==
== Also See ==
CME Group interest rate products
== Resources ==
CME Group Web site
Treasury Settlement Procedures
CBOT Position Limits
CBOT Chapter 19
[Block Minimum Thresholds
Price Limits
All Or None Minimums
Quote Vendor Symbols Listing
CME Group 10-Year US Treasury Note Contract Specifications
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