The Ultra 10-Year T-Note was built to address marketplace demand for a futures contract more closely tied to the 10-year maturity point on the Treasury yield curve. The deliverable basket is original-issue 10-Year Treasury Notes, with remaining terms to maturity at delivery between 9 years 5 months and 10 years.
Latest Interest Rates news
Features and benefits
Pinpoint 10-Year exposure
Access true 10-Year Treasury exposure with a tight delivery basket that spans less than one year.
Enhanced cash-futures spreading
Hedge and synthesize neighboring cash or swap exposures at the 10-Year term to maturity.
Extensive margin offsets
Enjoy the efficiencies of margin offsets to position accounts that contain Interest Rate products.
Improved Treasury yield curve trading
Tap into significant opportunities in spread trading across the Treasury yield curve.
Explore this product in depth
Review contract highlights
Contract Unit
Face value at maturity of $100,000
Price Quotation
Points and fractions of points with par on the basis of 100 points
Product Code
CME Globex: TN
CME ClearPort: TN
Clearing: TN
Trading Hours
CME Globex:
SUN - FRI: 5:00 p.m. - 4:00 p.m.
INTEREST RATES
Stay on top of market-moving events and product news
Get monthly updates, market trends, new research, tools, and more delivered straight to your inbox.
More choices to manage interest rate exposure
Manage risk, express a view, and unlock capital efficiencies with market-leading Interest Rate products.
Offers a capital-efficient and precise way to hedge the potential T-Bill yield at auction while providing for inter-commodity spreads and margin offset opportunities.
Pinpoint exposure near the short end of the Treasury curve to help manage risks ahead of key economic events for speculating and hedging of interest rate movements and implementing spread strategies.
Among the most actively watched benchmarks in the world, this contract offers unrivaled liquidity and capital-efficient off balance sheet Treasury exposure.
Deeply liquid and efficient tools for hedging interest rate risk, potentially enhancing income, adjusting portfolio duration, interest rate speculation, and spread trading.
View the latest insights on trends in the Interest Rate futures and options market.
Courses
Take self-guided courses on Interest Rate products.
If you’re new to futures, the courses below can help you quickly understand the U.S. Treasury market to start trading.
Contact an Interest Rate expert
Connect with a member of our expert Interest Rate team for more information about our products.
Ultra 10-Year Note Yield Curve Analytics
Additional analytics for Treasury futures are available in our Treasury Analytics tool. View Yield calculation methodology here.
Track forward-looking risk expectations on U.S. Treasuries with the CME Group Volatility Index (CVOLTM), a robust measure of 30-day implied volatility derived from deeply liquid options on Treasury futures.
