Micro 30-Year Yield Futures Contract Specifications (30YY)

Interest rate futures quote in price points that map to a fixed dollar value per contract. Small quote increments matter here more than in most markets, because a rate move of a few basis points translates into a meaningful P/L swing on a full-size contract.

Specifications

Margin is not listed here on purpose — the exchange revises it and every broker adds its own buffer. Check your broker's platform for the live figure. Use the margin calculator to estimate what a position will tie up.

Doing the tick math

One tick is 1/10 of 1bp in the quoted price, which is $1 per contract. These contracts are quoted in yield increments rather than in index points, and the exchange publishes the tick value directly, so a single "point value" figure does not carry over the way it does on index futures — use the tick value above for every position-sizing calculation. The rule for contracts that do publish a point value is in the tick value guide.

Enter your own prices in the tick value and P/L calculator to see the dollar result for this contract without doing the arithmetic by hand.

Delivery months

H,M,U,Z — March, June, September, December. Liquidity concentrates in the nearest active month; open interest migrates over a few weeks before expiry, which is what the roll mechanics guide walks through.

What one tick is worth at different position sizes

The per-tick figure scales linearly, which is the part most traders get wrong when they add contracts without re-checking risk.

Ten ticks on a 30YY contract is a move of 1/10 of 1bp × 10 in the quoted price. If you want the P/L for a specific entry and exit rather than a tick multiple, put the prices into the tick value calculator.

Converting your stop into a dollar risk

Stops are set in price terms but risk is booked in dollars. Multiply the stop distance in ticks by the tick value — and then add commission, which is charged per contract per side and is not in the numbers below.

On a $10.00 DV01 contract, a 20-tick stop at one contract ties up $20 of risk before costs. At five contracts it is $100. This is why position size should follow the stop, not the other way round — the arithmetic is laid out in choosing a futures contract.

How margin is set on Micro 30-Year Yield futures

Margin is not a property of the contract spec — it is a risk parameter the exchange recalculates periodically and that your broker then marks up. Two consequences follow:

• The figure moves when volatility moves, so a margin number copied from a blog post is usually stale.
• Two brokers can require different amounts for the same 30YY contract.

What is fixed by the spec is the notional exposure: $10.00 DV01 multiplied by the price. Margin is a percentage of that notional, which is why a higher price or a wider exchange buffer raises the cash requirement without the contract itself changing. The margin calculator takes your broker's number and converts it into "how many contracts can I hold"; the mechanics are in how futures margin works.

Where these numbers come from

Contract unit, tick size and delivery months are taken from the contract specifications published by CBOT/CME. Exchanges occasionally change tick sizes and listing months, so before relying on this page for a live position, check the current spec sheet on the exchange's own product page or on your broker's platform. This page was last rebuilt on 15 November 2026.

What moves Micro 30-Year Yield prices

• The policy rate path — expectations for central bank decisions drive the front end
• Inflation prints — the main input to that path
• Supply and auctions — issuance calendars move the long end
• Flight to quality — risk-off flows bid the complex regardless of fundamentals

This is context, not a recommendation. Nothing here tells you which way the market is going.

More financials contracts

• Micro 10-Year Yield (10YY) — $10.00 DV01, $1 per tick
• Micro 2-Year Yield (2YY) — $10.00 DV01, $1 per tick
• Micro 5-Year Yield (5YY) — $10.00 DV01, $1 per tick
• Micro Ultra 10-Year U.S. Treasury Note (MTN) — $10K Note, $1.56 per tick
• Micro Ultra U.S. Treasury Bond (MWNA) — $10K bond, $3.12 per tick
• Euro-Schatz (FGBS) — 100,000 €, €5 per tick

Full list: all 135 contract specifications. Sizing maths: tick value calculator, margin calculator.

Frequently asked

What is the contract size of Micro 30-Year Yield futures?

One 30YY contract represents $10.00 DV01. The tick size and tick value on this page follow from that quantity; because the contract is quoted in yield increments, no separate point value is quoted.

How much is one tick worth in 30YY futures?

One tick is a price move of 1/10 of 1bp, worth $1 per contract. Because the contract is quoted in yield increments rather than index points, the tick value is the figure to use for sizing and P/L.

Which delivery months does 30YY trade?

H,M,U,Z — March, June, September, December. The front month carries most of the liquidity and open interest migrates a few weeks before expiry.