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CGBTM – Ten-Year Government of Canada Bond Futures
Trading Unit
 
C$100,000 nominal value of Government of Canada Bond with 6% notional coupon.
Contract Months
 
March, June, September and December.
Price Quotation
 
Per C$100 nominal value.
Last Trading Day/Expiration
 
Trading ceases at 1:00 p.m. (Montréal time) on the 7th business day preceding the last business day of the delivery month.
Contract Type
 
Physical delivery of eligible Government of Canada Bonds. See Circulars.
Price Fluctuation
 
0.01 = C$10
Reporting Limit
 
250 contracts.
Delivery Standards
 
Government of Canada bonds which:
  • have a remaining time to maturity of between 8 years and 10½ years as of the first day of the delivery month, calculated by rounding down to the nearest whole three-month period;
  • have an outstanding amount of at least C$3.5 billion nominal value;
  • are originally issued at 10-year auctions;
  • are issued and delivered on or before the 15th day preceding the first delivery notice day of the contract.
Daily Price Limit
 
None
Trading Hours (Montréal time)
 
  • Early session: 6:00 a.m. to 8:05 a.m.
  • Regular session: 8:20 a.m. to 3:00 p.m.
  • Extended session*: 3:06 p.m. to 4:00 p.m.
* There is no extended session on the last trading day of the expiring contract month.
 
Note: During early closing days, the regular session closes at 1:00 p.m., time at which the daily settlement price is established. In those circumstances, the extended session is from 1:06 p.m. to 1:30 p.m.
 
CGBTM is a trademark of Bourse de Montréal Inc.