Because coupon rate is different from the remaining maturity, it is necessary to determine the conversion ratio between various deliverable bonds and nominal standard bonds as the target of futures contracts, which is called ConversionFactor (CF). In essence, the conversion coefficient is the present value of all cash flows discounted by the deliverable treasury bonds with a face value of 65,438+0 yuan in the remaining term according to the target coupon rate of the treasury bond futures contract. Item a is correct. The conversion coefficient is published by the exchange when the contract is listed, and its value remains unchanged during the duration of the contract, and item B is correct. Through the conversion factor, we can compare the value of deliverable bonds with different remaining maturities and different coupon rate. The conversion factor can be used to calculate the delivery price of deliverable treasury bonds in futures contracts, and item C is correct. The price (net price) of the converted treasury bonds can be obtained by multiplying the conversion coefficient of the deliverable treasury bonds by the settlement price of futures delivery, and the actual cash price (full price) that the seller should get when transferring the deliverable treasury bonds during futures delivery can be obtained by adding the net price of the treasury bonds to the accrued interest income during the holding period, which is the so-called invoice price. The calculation formula is as follows: invoice price = settlement price of treasury bonds futures × conversion coefficient+accrued interest, and item D is correct. So the answer to this question is ABCD.