The face value of CBOT 30-year treasury bond futures is $65,438+000,000. Suppose its quotation is 96-265,438+0, what does it mean?
1000 USD× 96+31.25 USD× 21= 96,656.25 USD is the contract value. If the new contract is quoted at 97-02, it means that the contract has increased by 13/32 points, that is,13× 31.25 = USD 406.25. The minimum fluctuation price of CBOT 30-year bonds is 1/32, that is, 3 1.25 USD (1000×1.32 = 31.25 USD), 5-year bonds and1.25 USD.