ELX Ultra Long-Term U.S. Treasury Bond Futures
The Ultra Long-Term U.S. Treasury Bond Futures contract is a product launched by ELX Futures on Jan. 11, 2010. The aim of the contract is to profit from investor desire to use longer-duration instruments to hedge positions. The Ultra Long-Term contract is part of ELX's suite of U.S. Treasury futures products already trading, including the 2-Year Note Futures, 5-Year Note Futures, 10-Year Note Futures, and the 30-Year Bond Futures.
ELX Futures lists three contract months of the Ultra Long-Term contract on a quarterly cycle and the associated calendar spreads, beginning with the March 2010 contract. The current fee schedule and trading hours for the existing ELX U.S. Treasury futures apply.
|Ultra Long-Term U.S. Treasury Bond futures|
|Contract Size||One U.S. Treasury bond having face value at maturity of $100,000. U.S. Treasury bonds that, if callable, are not callable for at least 25 years from the first day of the delivery month or, if not callable, have remaining term to maturity of at least 25 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 bond ($1 par value) to yield 6 percent.|
|Pricing Unit||Points ($1,000) and halves of 1/32 of a point. For example, 105-16 represents 105 16/32, and 105-165 represents 105 16.5/32.|
|Tick Value||The minimum price fluctuation shall be one half of one thirty-second (1/32) of one point ($15.625 rounded up to the nearest cent per contract) except for inter-month spreads, where the minimum price fluctuation shall be one quarter of one thirty-second of one point ($7.8125 per contract). Par shall be on the basis of 100 points.|
|Contract Months||Mar, Jun, Sep, Dec|
|Last Trading Day||Last business day of the delivery month|
|Note: This contract is electronic ONLY -- no open outcry|
|No Open Outcry||Electronic|
|Trading Hours||N/A||6 p.m. to 5 p.m. Eastern Time, Sunday through Thursday|
- Press Release. PR-Inside.
- CME Rival ELX To List Ultra Long Bond Futures On Jan 11. Morningstar.