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10 Year Treasury Note Futures Contract

U.S. Treasury notes, or T-Notes, represent a loan to the U.S. government. T-Note holders are creditors rather than equity or share-holders. The U.S. government agrees to repay the principal or par amount of the security at maturity, plus coupon interest. Participating in 10 year T-Note futures allows a trader to assess the direction of interest rates as well the ability to hedge risk at the short end of a yield curve. 10 year T-Note futures can also allow an investor to use a different trading strategies such as spread trading against different Treasury futures.

Contract Unit

Face value at maturity of $100,000

Futures Contract

CME Globex: ZN

Trading Hours 

CME Globex: Sunday – Friday 5:00 p.m. – 4:00 p.m. Chicago/Central Time (CT).

Minimum Price

1/2 of 1/32 of one point = $15.625

Contract Months

Quarterly: March, June, September & December

Settlement Method


Price Limit / Circuit

Source: CME Group

The above information was derived from sources believed to be reliable and accurate. It is provided without guarantees and is subject change without notice.

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