Access Global Markets
Trade Treasury Futures
What are Treasury Futures?
Treasury futures are standardized contracts for U.S. government debt securities—Treasury bonds and notes—delivered at a specified future date and predetermined price.
These contracts track the price movements of U.S. Treasury securities without requiring ownership of the actual bonds. Available in 2-, 5-, 10-, and 30-year terms, with micro contracts for smaller position sizes, Treasury futures provide exposure to interest rate movements, as bond prices move inversely to rates. Backed by U.S. government securities, they offer deep liquidity and play a central role in institutional fixed-income trading.
Treasury Notes & Bonds
Standard futures contracts tied to 2-, 5-, 10-, and 30-year U.S. Treasuries, used to manage interest rate exposure and navigate long-term debt risk.
Treasury Yields & Rates
Futures based on benchmark interest rates and yield curves, offering a direct way to trade or hedge shifts in short- and long-term U.S. rate expectations.
Ultra Treasuries
Higher-duration Treasury futures designed for precise exposure to long-dated U.S. debt, ideal for institutional strategies and complex bond portfolios.
Trade Treasury Futures
at MetroTrade
Contracts Available
| Code | Product Name | Contract Size | Min. Tick Size | Trading Hours (EST) |
|---|---|---|---|---|
| /ZB | 30-Year Treasury Bond Futures | $100,000 | 1/32 = $31.25 | Sun 6 PM – Fri 5 PM |
| /ZN | 10-Year Treasury Note Futures | $100,000 | 1/2 of 1/32 = $15.625 | Sun 6 PM – Fri 5 PM |
| /ZF | 5-Year Treasury Note Futures | $100,000 | 1/4 of 1/32 = $7.8125 | Sun 6 PM – Fri 5 PM |
| /ZT | 2-Year Treasury Note Futures | $200,000 | 1/8 of 1/32 = $7.8125 | Sun 6 PM – Fri 5 PM |
| /UB | Ultra U.S. Treasury Bond Futures | $100,000 | 1/32 = $31.25 | Sun 6 PM – Fri 5 PM |
| /MWN | Micro Ultra U.S. Treasury Bond Futures | $10,000 | 1/32 = $3.125 | Sun 6 PM – Fri 5 PM |
| /TN | Ultra 10-Year Treasury Note Futures | $100,000 | 1/2 of 1/32 = $15.625 | Sun 6 PM – Fri 5 PM |
| /MTN | Micro Ultra 10-Year Treasury Note Futures | $10,000 | 1/2 of 1/32 = $1.5625 | Sun 6 PM – Fri 5 PM |
| /SR3 | Three-Month SOFR Futures | $25 per basis point | 0.0025 = $6.25 | Sun 6 PM – Fri 5 PM |
| /2YY | 2-Year Yield Futures | $10 per basis point | 0.0010% = $1.00 | Sun 6 PM – Fri 5 PM |
| /10Y | 10-Year Yield Futures | $10 per basis point | 0.0010% = $1.00 | Sun 6 PM – Fri 5 PM |
Access Contracts of All Sizes
Full Size
Full-size futures contracts represent the standard, complete unit of a financial index or commodity in the futures market. These contracts offer larger position sizes and potentially greater profit (or loss) potential, they also require more capital and carry higher risk compared to their E-mini and Micro counterparts.
E-mini
E-minis are a standard futures contract that is broken down into a fractional portion of a financial index. The “E” designates it is traded electronically. When launched in 1997, E-minis were a fraction of the size of pit-traded contracts, but they have come to dominate the futures markets.
Micro E-mini
Trade a slice of CME’s liquid futures markets and get the same capital efficiency as standard E-mini contracts with less upfront financial commitment.
Frequently Asked Questions
Why do traders use treasury futures instead of bonds?
Treasury futures offer lower capital requirements, high liquidity, and easier execution compared to trading individual bonds, making them ideal for hedging or speculating on interest rate moves.
What types of treasury futures are there?
They’re available in multiple durations: 2-year, 5-year, 10-year, and 30-year notes and bonds, as well as yield-based and ultra-long-duration contracts.
Who uses treasury futures?
Banks, hedge funds, portfolio managers, and individual traders use them to manage fixed income exposure and protect against rate volatility.
How are treasury futures settled?
Most are physically settled, but traders typically roll or close positions before expiration. Some contracts, like yield futures, are cash-settled.
What moves treasury futures prices?
Prices react to interest rate policy, inflation data, economic indicators, Federal Reserve actions, and geopolitical or fiscal uncertainty.
Are there smaller contract sizes?
Yes. Micro and E-mini treasury futures offer smaller multipliers for more flexible exposure with lower margin requirements.
No Minimum Deposit Required
Whether you’re new to futures trading or an experienced trader, we get you on track to begin your trading journey with flexibility. No need for large initial deposits—start with an amount that suits you and grow from there.
