[Fwd: CBOT - Half Tick Trading in 10-year T-Note Futures]

[Timothy Morge <tmorge@xxxxxxxxxxxxxxx>]

Omega List People:

Ten Year T-Notes trade on 1/2 ticks [one half of one thirty
second] beginning June 27. To capture these ticks correctly,
is it simply a change from 1/32 to 1/64th contract's price
scale setup?

And...did anyone alert DBC/BMI/Signal? It's apparently our
responsibility...

Best,

Tim MorgeReceived: from cbot.com (gwia.cbot.com [198.246.140.72])
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Subject: CBOT - Half Tick Trading in 10-year T-Note Futures
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This is an update on CBOT's Futures contracts or Futures Options contracts 
specifications.

Beginning June 27, 10-year Treasury note futures will trade in half ticks. The minimum increment for all 10-year note contracts will be one half of 1/32 of a point, or $15.625, per contract. This change will allow the exchange to serve custromer's needs better.

The new tick size means:
-a tighter bid-ask spread
-more competitive markets in one of the CBOT's most liquid contracts
-lower transaction costs
greater flexibility in hedging interest rate exposure in the intermediate to long-term range

For more information, call the CBOT(R) MArket & Product Development Department:
Nancy Kaplan 312-347-3808
Cynthya Williams 312-435-7216
Thomas Cosgrove 312-347-3823



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