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info@cmegroup.com
800-331-3332 or 312-930-2316
5-Year U.S. Treasury Note
Product Snapshot: 5-Year U.S. Treasury Note Futures
This product is based on the 5-Year U.S. Treasury Note, a negotiable debt obligation issued by the U.S. government and backed by its full faith and credit.
5-Year U.S. Treasury Note Futures provide a way to:
- Hedge interest rate risk at the mid-point of the yield curve
- Express a view on the direction of interest rates at the mid-point of the yield curve
- Execute a wide range of trading strategies including:
- Yield curve trades against other Treasury futures
- Spread trades against other CME Group Interest Rate products
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View free real-time quotes on a variety of electronically traded CME Group products
Four Important New Publications for Interest Rate Customers
View and download them here.
- An Efficient Approach to Mortgage Pipeline Risk Management
- Protecting Funding Margins with Binary Options on the Target Federal Funds Rate
- Liability Driven Investing: Challenges and Opportunities
- The Evolution of Alpha Transport Strategies into Fixed Income
To request a print version, please call Customer Service at 1-800-331-3332 or 312-930-2316.
New Market Maker Programs for Interest Rates Products
Get complete details on our market maker programs for trading options on U.S. Treasuries, 30-Day Fed Funds and Eurodollars
Tick Changes Pending for U.S. Treasury Products and Block Trading Approved for CBOT Interest Rate Products
Beginning March 3, 2008 CME Group will reduce the minimum tick size for three of its most actively traded U.S. Treasury contracts.
| Trade Unit | One U.S. Treasury note having a face value at maturity of $100,000. U.S. Treasury notes with original term to maturity of not more than five years and three months and remaining term to maturity of not less than four years and two months 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. | ||
| Settle Method | Delivery | ||
| Point Size | ¼ of 1/32 = $7.8125 | ||
| Strike Price Interval | |||
| Strike | |||
| Limits/Price Banding | No limits | ||
| Tick Size (Minimum Fluctuation) |
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| Trading Hours | Sunday/Friday 5:30 p.m.-4:00 p.m. CT; Shutdown period from 4:00 p.m. to 5:00 p.m. nightly Trading in expiring contracts closes at noon, Central Standard Time, on the last trading day | ||
| Listed | All listed intervals | ||
| Product Codes | Clearing: 25 Open Outcry: FV Electronic: ZF | ||
| Minimum Block Size | |||
| Product Calendar | First five consecutive contracts in the Mar, Jun, Sep and Dec quarterly cycle View current product listings |
| Trade Unit | One U.S. Treasury note having a face value at maturity of $100,000. U.S. Treasury notes with original term to maturity of not more than five years and three months and remaining term to maturity of not less than four years and two months 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. | ||
| Settle Method | Delivery | ||
| Point (Tick) Size | ¼ of 1/32 = $7.8125 | ||
| Strike Price Interval | |||
| Strike | |||
| Limits/Price Banding | No limits | ||
| Minimum Fluctuation |
|
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| Trading Hours | Open Outcry: 7:20 a.m. to 2:00 p.m. CT, Monday - Friday Trading in expiring contracts closes at noon, Central Standard Time, on the last trading day | ||
| Listed | All listed intervals | ||
| Product Codes | Clearing: 25 Open Outcry: FV Electronic: ZF | ||
| Minimum Block Size | |||
| Product Calendar | First five consecutive contracts in the Mar, Jun, Sep and Dec quarterly cycle View current product listings |
Four Important New Publications for Interest Rate Customers
View and download them here.
- An Efficient Approach to Mortgage Pipeline Risk Management
- Protecting Funding Margins with Binary Options on the Target Federal Funds Rate
- Liability Driven Investing: Challenges and Opportunities
- The Evolution of Alpha Transport Strategies into Fixed Income
To request a print version, please call Customer Service at 1-800-331-3332 or 312-930-2316.
New Market Maker Programs for Interest Rates Products
Get complete details on our market maker programs for trading options on U.S. Treasuries, 30-Day Fed Funds and Eurodollars
Tick Changes Pending for U.S. Treasury Products and Block Trading Approved for CBOT Interest Rate Products
Beginning March 3, 2008 CME Group will reduce the minimum tick size for three of its most actively traded U.S. Treasury contracts.
| Contract Month | Product Code | First Trade Date | Last Trade Date | Settlement Date | |
| JUN08 | 25M08 | 04/02/2007 |  |
06/30/2008 | 06/30/2008 |
| SEP08 | 25U08 | 07/02/2007 | |
09/30/2008 | 09/30/2008 |
| DEC08 | 25Z08 | 10/01/2007 | |
12/31/2008 | 12/31/2008 |
| MAR09 | 25H09 | 01/02/2008 | |
03/31/2009 | 03/31/2009 |
| JUN09 | 25M09 | 04/01/2008 | |
06/30/2009 | 06/30/2009 |
| SEP09 | 25U09 | 07/01/2008 | |
09/30/2009 | 09/30/2009 |
Four Important New Publications for Interest Rate Customers
View and download them here.
- An Efficient Approach to Mortgage Pipeline Risk Management
- Protecting Funding Margins with Binary Options on the Target Federal Funds Rate
- Liability Driven Investing: Challenges and Opportunities
- The Evolution of Alpha Transport Strategies into Fixed Income
To request a print version, please call Customer Service at 1-800-331-3332 or 312-930-2316.
New Market Maker Programs for Interest Rates Products
Get complete details on our market maker programs for trading options on U.S. Treasuries, 30-Day Fed Funds and Eurodollars
Tick Changes Pending for U.S. Treasury Products and Block Trading Approved for CBOT Interest Rate Products
Beginning March 3, 2008 CME Group will reduce the minimum tick size for three of its most actively traded U.S. Treasury contracts.