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Futures Contract Specifications

The 10 Year T-Note futures contract specifications tell you how the 10 Year T-Note futures futures trade, not how to trade to 10 Year T-Note futures. Before you consider opening a futures account, you should consult with a licensed futures broker.

Contract Size

One U.S. Treasury note having a face value at maturity of $100,000 or multiple thereof.

Deliverable Grades

U.S. Treasury notes maturing at least 6 1/2 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.

Tick Size

Minimum price fluctuations shall be in multiples of one-half of one thirty-second (1/32) point per 100 points ($15.625 rounded up to the nearest cent per contract) except for intermonth spreads, where minimum price fluctuations shall be in multiples of one-fourth of one thirty-second point per 100 points ($7.8125 per contract).  Par shall be on the basis of 100 points.  Contracts shall not be made on any other price basis.

Price Quote

Points ($1,000) and one-half of 1/32 of a point; i.e., 80-16 equals 80-16/32, 80-165 equals 80-16.5/32.

Contract Months
Mar, Jun, Sep, Dec
Last Trading Day
Seventh business day preceding the last business day of the delivery month. Trading in expiring contracts closes at noon, Chicago time, on the last trading day.
Last Delivery Day
Last business day of the delivery month.
Delivery Method
Federal Reserve book-entry wire-transfer system
Trading Hours
Open Auction: 7:20 am - 2:00 pm, Central Time, Monday - Friday
Electronic: 5:30 pm - 4:00 pm, Central Time, Sunday - Friday
Ticker Symbols
Open Auction: TY
Electronic: ZN
Daily Price Limit
None
Margin Information

Find information on margins requirements for the 10 Year U.S. Treasury Notes Futures.

Click here to contact a commodities broker with experience in the 10 YR T-Note market.