CME Group 30-Year U.S. Treasury bonds

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30-year 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	CME Globex:	SUN - FRI: 5:00 p.m. - 4:00 p.m.
	CME ClearPort:	Sunday 5:00 p.m. - Friday 5:45 p.m. CT with no reporting Monday - Thursday 5:45 p.m. – 6:00 p.m. CT
Minimum Price Fluctuation	1/32 of a point = $31.25 Calendar spreads: one-quarter of 1/32 of a point = $7.8125"
Product Code	CME Globex: ZB CME ClearPort: 17 Clearing: 17
Listed Contracts	Quarterly contracts (Mar, Jun, Sep, Dec) listed for 3 quarters
Settlement Method	Deliverable
Termination of Trading	Trading terminates at 12:01 p.m. CT on the 7th business day prior to the last business day of the contract month.
Settlement Procedures	Treasury Settlement Procedures
Position Limits	CBOT Position Limits
Exchange Rulebook	CBOT 18
Block Minimum	Block Minimum Thresholds
Price Limit or Circuit	Price Limits
All or None Minimum	All or None Minimum
Vendor Codes	Quote Vendor Symbols Listing
Delivery Procedure	Federal Reserve book-entry wire-transfer system.
Last Delivery Date	Last business day of the delivery month.
Grade and Quality	U.S. Treasury bonds that have remaining term to maturity of at least 15 years and less than 25 years from the first day of the futures delivery month.* The delivery invoice amount 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. For more information, please refer to T-Bond Basket Gap Decision."

30-year U.S. Treasury bond Options
Minimum Price Fluctuation	1/64th of a point ($15.625)
Trading Hours	CME Globex:	Sunday 5:00 p.m. - Friday - 4:00 p.m. CT with a 60-minute break each day beginning at 4:00 p.m. CT
	Open Outcry:	MON - FRI: 7:20 a.m. - 2:00 p.m.
	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: ZB1,ZB2,ZB3,ZB4,ZB5 CME ClearPort: US1,US2,US3,US4,US5 Open Outcry: US1,US2,US3,US4,US5 Clearing: US1,US2,US3,US4,US5
Listed Contracts	First 24 calendar months.
Termination of Trading	Default:	Week 1 - 1st Friday of the month Week 2 - 2nd Friday of the month Week 3 - 3rd Friday of the month Week 4 - 4th Friday of the month Week 5 - 5th Friday of the month Unexercised options shall expire at 7:00 p.m. CT on the last trading day
	Mid-Curve:	A given Friday that is not also the last trading day of a monthly serial or quarterly Treasury option. If such a Friday is the last trading day of a monthly serial or quarterly Treasury option, there will be no Weekly Treasury option listed for trading for that expiration date.
Position Limits	CBOT Position Limits
Exchange Rulebook	CBOT Chapter 18A
Block Minimum	Block Minimum Thresholds
Price Limit or Circuit	Price Limits
Vendor Codes	Quote Vendor Symbols Listing
Strike Price Listing Procedures	Strike prices will be listed in increments of one-half of one point for all weekly expirations. The minimum strike price range will include the at-the-money strike price closest to the current futures price plus the next forty (40) consecutive higher and the next forty (40) 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., CT. Options that expire in-the-money on the last trading day are automatically exercised, unless specific instructions are given to CME Clearing.
Settlement Method	Deliverable
Underlying	U.S. Treasury Bond Futures

Also See

• CME Group interest rate products

Resources

CME Group Web site

U.S. Treasury Bond Contract Specs