As of July 6, 2020, there are three kinds of treasury bonds futures listed in China, namely, three contract standards, namely, 2-year treasury bonds futures, 5-year treasury bonds futures and 10-year treasury bonds futures. There are also many different parts in the contract rules of the three kinds of treasury bonds futures. There are mainly the following points:

The 2-year treasury bond futures contract is a nominal short-term treasury bond with a face value of 2 million yuan and a coupon rate of 3%. Deliverable treasury bonds are book-entry interest-bearing treasury bonds, the issuance period is no more than 5 years, and the remaining period on the first day of the contract expiration month is 1.5-2.25 years. The maximum daily price fluctuation is limited to 0.5% of the settlement price of the previous trading day, and the minimum trading margin is 0.5% of the contract value. The transaction code is TS.

The target of the 5-year treasury bond futures contract is the nominal medium-term treasury bond, with a face value of 654.38+00000 yuan and coupon rate 3%. Deliverable treasury bonds are book-entry interest-bearing treasury bonds, the issuance period is no more than 7 years, and the remaining period on the first day of the contract expiration month is 4-5.25 years. The maximum daily price fluctuation is limited to 654.38+0.2% of the settlement price of the previous trading day, and the minimum trading margin is 654.38+ of the contract value.

The target of the 10-year treasury bond futures contract is a nominal long-term treasury bond with a par value of100000 yuan and a coupon rate of 3%. Deliverable treasury bonds are book-entry interest-bearing treasury bonds, and the issuance period shall not exceed 10 year, and the remaining period on the first day of the contract expiration month shall not be less than 6.5 years. The maximum daily price fluctuation is limited to 2% of the settlement price of the previous trading day, and the minimum trading margin is 2% of the contract value.