Financial Futures and Options

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U.S. Treasury Futures

The Treasury Futures
Delivery Process

30-Day Fed Funds Futures

U.S. Treasury bond and note futures have grown to become fundamental risk management tools for investors worldwide. Whether market predictions call for rising or falling rates, you will find that U.S. Treasury futures are an effective, low-cost way to help you meet your unique objectives. Read on to learn how they can benefit you.

The delivery process has a significant impact on the prices at which the futures contracts trade. This booklet describes the Treasury delivery process and explains the rules that govern it. It is intended as a primer for those who wish to better understand how the delivery process occurs and how delivery can affect the pricing of the Treasury futures.

The brochure helps you learn more about hedging with the CBOT 30-Day Fed Funds futures contract. It enables you to transfer the risks inherent in the underlying fed funds market and other short-term money markets. Those who want to neutralize interest rate risk, hedgers, can shift that risk to those who are willing to accept it, speculators.

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CBOT Financial 
Instruments Guide

Fed Funds Futures:
Applications

Practical Uses 
of Treasury Futures

This booklet provides a broad overview of the financial  contracts traded at the Chicago Board of Trade. It is intended to explain what is traded, what the buyers and sellers of CBOT contracts are obliged to do, how these contracts are used to track different kinds of interest rates and prices, and to give some sense of the fundamental relationships between them.

This publication provides a number of provide practical applications with fed funds futures that are appropriate for those seeking to hedge their short-term interest rate risk and those seeking income enhancement. Users of the short-term money markets will find this booklet a useful resource for ideas on how fed funds futures can be used to complement risk management and trading strategies.

Whether you seek to protect a portfolio from the price effects of interest rate volatility, to lock in today's costs for future financial transactions, or to pursue opportunities profit from your market expectations, the CBOT Treasury complex offers an economically viable means of meeting your objectives.  This book discusses many of the ways you can use these efficient, low-cost tools.