Treasury & Interest Rate Futures
Trade U.S. Treasury debt and global interest rate benchmarks without holding underlying bonds
Treasury & Interest Rate Futures
Trade U.S. Treasury debt and global interest rate benchmarks without holding underlying bonds
Treasury & Interest Rate Futures
Trade U.S. Treasury debt and global interest rate benchmarks without holding underlying bonds
Regulated by
Monetary Authority of Singapore
PARTNER WITH
Powered by
Regulated by
Monetary Authority of Singapore
Partner with
Powered by
What are Treasury Futures contracts?
Interest rate futures are leveraged contracts that track U.S. government debt and yield benchmarks, letting you trade rate expectations or hedge fixed-income risk
Yield Curve Exposure
Trade everything from 2-year short-term Fed policy expectations to 30-year long-term inflation dynamics
Inverse Rate Dynamics
Capitalize on rate movements easily by going long when yields fall (prices rise) or short when rates rise (prices fall)
React to Fed Policies 24/5
React instantly to FOMC rate decisions, CPI releases, and non-farm payroll reports as economic data drops
What are Treasury Futures contracts?
Interest rate futures are leveraged contracts that track U.S. government debt and yield benchmarks, letting you trade rate expectations or hedge fixed-income risk
Yield Curve Exposure
Trade everything from 2-year short-term Fed policy expectations to 30-year long-term inflation dynamics
Inverse Rate Dynamics
Capitalize on rate movements easily by going long when yields fall (prices rise) or short when rates rise (prices fall)
React to Fed Policies 24/5
React instantly to FOMC rate decisions, CPI releases, and non-farm payroll reports as economic data drops
What are Treasury Futures contracts?
Interest rate futures are leveraged contracts that track U.S. government debt and yield benchmarks, letting you trade rate expectations or hedge fixed-income risk
Yield Curve Exposure
Trade everything from 2-year short-term Fed policy expectations to 30-year long-term inflation dynamics
Inverse Rate Dynamics
Capitalize on rate movements easily by going long when yields fall (prices rise) or short when rates rise (prices fall)
React to Fed Policies 24/5
React instantly to FOMC rate decisions, CPI releases, and non-farm payroll reports as economic data drops
Markets
Explore Interest Rate Futures
Interest rate future contracts across short, medium and long-term Treasury maturities
Markets
Explore Interest Rate Futures
Interest rate future contracts across short, medium and long-term Treasury maturities
10-YEAR NOTES (ZN)
Trade the global benchmark for interest rate risk. The 10-Year Note features massive order book depth and tight spreads, serving as the core instrument for trading macro rate expectations, corporate borrowing trends, and broad portfolio duration adjustments
30-YEAR NOTES (ZB)
Trade long-term yield sensitivity driven by structural inflation expectations, Treasury issuance and long-term economic outlooks. The 30-Year Bond provides high tick-value responsiveness for traders looking to express long-duration macro theses
5-YEAR NOTES (ZF)
Capitalize on intermediate-term interest rate dynamics where monetary policy shifts and medium-term inflation expectations intersect. The 5-Year Note acts as a primary component for executing 2s/5s/10s butterfly and curve spread strategies
2-YEAR NOTES (ZT)
Track the tenor closest to the Federal Reserve’s target rate. As the most sensitive contract to near-term Fed policy changes, the 2-Year Note moves rapidly on economic releases and policy statements, making it essential for rate-expectation trading
10-YEAR NOTES (ZN)
Trade the global benchmark for interest rate risk. The 10-Year Note features massive order book depth and tight spreads, serving as the core instrument for trading macro rate expectations, corporate borrowing trends, and broad portfolio duration adjustments
30-YEAR NOTES (ZB)
Trade long-term yield sensitivity driven by structural inflation expectations, Treasury issuance and long-term economic outlooks. The 30-Year Bond provides high tick-value responsiveness for traders looking to express long-duration macro theses
5-YEAR NOTES (ZF)
Capitalize on intermediate-term interest rate dynamics where monetary policy shifts and medium-term inflation expectations intersect. The 5-Year Note acts as a primary component for executing 2s/5s/10s butterfly and curve spread strategies
2-YEAR NOTES (ZT)
Track the tenor closest to the Federal Reserve’s target rate. As the most sensitive contract to near-term Fed policy changes, the 2-Year Note moves rapidly on economic releases and policy statements, making it essential for rate-expectation trading
10-YEAR NOTES (ZN)
Trade the global benchmark for interest rate risk. The 10-Year Note features massive order book depth and tight spreads, serving as the core instrument for trading macro rate expectations, corporate borrowing trends, and broad portfolio duration adjustments
30-YEAR NOTES (ZB)
Trade long-term yield sensitivity driven by structural inflation expectations, Treasury issuance and long-term economic outlooks. The 30-Year Bond provides high tick-value responsiveness for traders looking to express long-duration macro theses
5-YEAR NOTES (ZF)
Capitalize on intermediate-term interest rate dynamics where monetary policy shifts and medium-term inflation expectations intersect. The 5-Year Note acts as a primary component for executing 2s/5s/10s butterfly and curve spread strategies
2-YEAR NOTES (ZT)
Track the tenor closest to the Federal Reserve’s target rate. As the most sensitive contract to near-term Fed policy changes, the 2-Year Note moves rapidly on economic releases and policy statements, making it essential for rate-expectation trading
Contract Specifications
Interest Rate Futures Contracts & Margins
Essential contract specifications, tick sizes and margins across global treasury futures markets
Contract Specifications
Interest Rate Futures Contracts & Margins
Essential contract specifications, tick sizes and margins across global treasury futures markets
Contract Specifications
Interest Rate Futures Contracts & Margins
Essential contract specifications, tick sizes and margins across global treasury futures markets
Swipe to see more →
Code
Contract
Contract Size
Tick Size
Intraday Margin
Initial Margin (USD)
ZQ
30-Day Fed Funds Futures
USD 4,167 x IMM Index
0.005
$123.50
$247.00
ZT
2-Year T-Note Futures
USD 200,000 face value
1/8 of 1/32 point (0.00390625)
$660.00
$1,320.00
ZF
5-Year T-Note Futures
USD 100,000 face value
1/4 of 1/32 point (0.0078125)
$687.50
$1,375.00
ZN
10-Year T-Note Futures
USD 100,000 face value
1/2 of 1/32 point (0.015625)
$1,031.25
$2,062.50
TN
Ultra 10-Year T-Note Futures
USD 100,000 face value
1/2 of 1/32 point (0.015625)
$1,402.50
$2,805.00
ZB
30-Year U.S. Treasury Bond Futures
USD 100,000 face value
1/32 point (0.03125)
$2,035.00
$4,070.00
UB
Ultra U.S. Treasury Bond Futures
USD 100,000 face value
1/32 point (0.03125)
$2,832.50
$5,665.00
Contract Specifications
Maximum Capital Efficiency, Fractional Exposure
Micro futures are a fraction of the size of standard futures contracts
Contract Specifications
Maximum Capital Efficiency, Fractional Exposure
Micro futures are a fraction of the size of standard futures contracts
Contract Specifications
Maximum Capital Efficiency, Fractional Exposure
Micro futures are a fraction of the size of standard futures contracts
1/10th Contract size
Gain exposure to key benchmark maturities at one-tenth the size of standard Treasury contracts. Trade pure interest rate movements with significantly reduced financial commitments and lower intraday margins
Precise Risk Control
Protect downside with smaller tick values. Lower dollar-per-point exposure lets you set wider, structure-based stop-losses without exceeding your account's risk limits
Yield Curve Diversification
Spread risk across multiple markets without over-allocating capital. Lower margin demands allow you to trade multiple index futures micros concurrently within a single account
Live Strategy Validation
Trade yield percentages directly or test macro rate strategies live under real market conditions with minimal capital at risk before scaling into full-sized contracts
1/10th Contract size
Gain exposure to key benchmark maturities at one-tenth the size of standard Treasury contracts. Trade pure interest rate movements with significantly reduced financial commitments and lower intraday margins
Precise Risk Control
Protect downside with smaller tick values. Lower dollar-per-point exposure lets you set wider, structure-based stop-losses without exceeding your account's risk limits
Yield Curve Diversification
Spread risk across multiple markets without over-allocating capital. Lower margin demands allow you to trade multiple index futures micros concurrently within a single account
Live Strategy Validation
Trade yield percentages directly or test macro rate strategies live under real market conditions with minimal capital at risk before scaling into full-sized contracts
1/10th Contract size
Gain exposure to key benchmark maturities at one-tenth the size of standard Treasury contracts. Trade pure interest rate movements with significantly reduced financial commitments and lower intraday margins
Precise Risk Control
Protect downside with smaller tick values. Lower dollar-per-point exposure lets you set wider, structure-based stop-losses without exceeding your account's risk limits
Yield Curve Diversification
Spread risk across multiple markets without over-allocating capital. Lower margin demands allow you to trade multiple index futures micros concurrently within a single account
Live Strategy Validation
Trade yield percentages directly or test macro rate strategies live under real market conditions with minimal capital at risk before scaling into full-sized contracts
Before You Trade
Interest Rate Futures FAQs
Before You Trade
Interest Rate Futures FAQs
Before You Trade
Interest Rate Futures FAQs
1. What are Interest Rate Futures?
Interest rate futures are exchange-listed contracts to trade the future price of a fixed-income instrument, such as a US Treasury bond or note. They let you take a position on the direction of interest rates without holding the underlying bond. Contracts are traded on the CBOT, with size, tick value and expiry set by the exchange
2. What are Treasury Futures?
Treasury futures are interest rate futures based on US government debt, covering different points along the yield curve from short-term notes to long-term bonds. Price moves inversely to yield: when interest rates rise, Treasury futures prices fall, and when rates fall, prices rise
3. What moves Interest Rate Futures prices?
Interest rate futures respond mainly to central bank policy decisions and forward guidance, particularly from the US Federal Reserve. Inflation data, employment reports and Treasury auction results also move prices, since all of these feed into where the market expects rates to head
4. What are the margin requirements to trade Interest Rate Futures?
Margin on interest rate futures is set by the exchange and varies with volatility, particularly around central bank meetings and major economic data releases. Brokers can require additional margin above the exchange minimum. KGI Crusoe has no account minimum; capital required depends on the contract and quantity traded. Current figures are listed in the contract specifications
5. What are the risks of trading Interest Rate Futures?
Interest rate futures are leveraged, so a small move in yields can produce a large move against your margin, and losses can exceed the amount deposited. Prices can gap sharply around central bank announcements and unexpected economic data. Every contract carries a fixed expiry date that needs to be managed
1. What are Interest Rate Futures?
Interest rate futures are exchange-listed contracts to trade the future price of a fixed-income instrument, such as a US Treasury bond or note. They let you take a position on the direction of interest rates without holding the underlying bond. Contracts are traded on the CBOT, with size, tick value and expiry set by the exchange
2. What are Treasury Futures?
Treasury futures are interest rate futures based on US government debt, covering different points along the yield curve from short-term notes to long-term bonds. Price moves inversely to yield: when interest rates rise, Treasury futures prices fall, and when rates fall, prices rise
3. What moves Interest Rate Futures prices?
Interest rate futures respond mainly to central bank policy decisions and forward guidance, particularly from the US Federal Reserve. Inflation data, employment reports and Treasury auction results also move prices, since all of these feed into where the market expects rates to head
4. What are the margin requirements to trade Interest Rate Futures?
Margin on interest rate futures is set by the exchange and varies with volatility, particularly around central bank meetings and major economic data releases. Brokers can require additional margin above the exchange minimum. KGI Crusoe has no account minimum; capital required depends on the contract and quantity traded. Current figures are listed in the contract specifications
5. What are the risks of trading Interest Rate Futures?
Interest rate futures are leveraged, so a small move in yields can produce a large move against your margin, and losses can exceed the amount deposited. Prices can gap sharply around central bank announcements and unexpected economic data. Every contract carries a fixed expiry date that needs to be managed
1. What are Interest Rate Futures?
Interest rate futures are exchange-listed contracts to trade the future price of a fixed-income instrument, such as a US Treasury bond or note. They let you take a position on the direction of interest rates without holding the underlying bond. Contracts are traded on the CBOT, with size, tick value and expiry set by the exchange
2. What are Treasury Futures?
Treasury futures are interest rate futures based on US government debt, covering different points along the yield curve from short-term notes to long-term bonds. Price moves inversely to yield: when interest rates rise, Treasury futures prices fall, and when rates fall, prices rise
3. What moves Interest Rate Futures prices?
Interest rate futures respond mainly to central bank policy decisions and forward guidance, particularly from the US Federal Reserve. Inflation data, employment reports and Treasury auction results also move prices, since all of these feed into where the market expects rates to head
4. What are the margin requirements to trade Interest Rate Futures?
Margin on interest rate futures is set by the exchange and varies with volatility, particularly around central bank meetings and major economic data releases. Brokers can require additional margin above the exchange minimum. KGI Crusoe has no account minimum; capital required depends on the contract and quantity traded. Current figures are listed in the contract specifications
5. What are the risks of trading Interest Rate Futures?
Interest rate futures are leveraged, so a small move in yields can produce a large move against your margin, and losses can exceed the amount deposited. Prices can gap sharply around central bank announcements and unexpected economic data. Every contract carries a fixed expiry date that needs to be managed
Get Started
Start Trading Interest Rate Futures in 3 Steps
Execute trades with confidence and precision
Get Started
Start Trading Interest Rate Futures in 3 Steps
Execute trades with confidence and precision
Get Started
Start Trading Interest Rate Futures in 3 Steps
Execute trades with confidence and precision
1
Choose a Market
Search any market code or name to instantly pull up contract details and margin rates
2
Set Your Position
Select your contract size, choose long or short, and pick your order type to match your strategy
3
Execute & Manage
Attach your take-profit and stop-loss levels, submit your order, and track real-time P&L as the market moves
1
Choose a Market
Search any market code or name to instantly pull up contract details and margin rates
2
Set Your Position
Select your contract size, choose long or short, and pick your order type to match your strategy
3
Execute & Manage
Attach your take-profit and stop-loss levels, submit your order, and track real-time P&L as the market moves
1
Choose a Market
Search any market code or name to instantly pull up contract details and margin rates
2
Set Your Position
Select your contract size, choose long or short, and pick your order type to match your strategy
3
Execute & Manage
Attach your take-profit and stop-loss levels, submit your order, and track real-time P&L as the market moves
Legal and Regulatory
KGI Crusoe is a futures trading platform operated by KGI Securities (Singapore) Pte. Ltd. (Co. Reg. No. 195500144H), a holder of a Capital Markets Services Licence issued by the Monetary Authority of Singapore. Registered office: 4 Shenton Way, #13-01 SGX Centre 2, Singapore 068807.
NinjaTrader is a group of affiliated companies operating under NinjaTrader Group, LLC ("NTG"), including NinjaTrader, LLC ("NT") and NinjaTrader Clearing, LLC d/b/a NinjaTrader, Kraken Derivatives US, and Tradovate ("NTC"). NT owns and supports the proprietary NinjaTrader trading platform as a software development company, while NTC provides brokerage services. View Disclosures.
NTC is registered with the Commodity Futures Trading Commission ("CFTC") as a futures commission merchant ("FCM") and is a National Futures Association ("NFA") Member (NFA ID: 0309379). Registered office: 222 North Lasalle Street Suite 400 Chicago, IL 60601 United States. Questions related to brokerage accounts should be directed to your broker.
Futures trading involves substantial risk and is not suitable for everyone. An investor may lose all or more than the initial investment. Trading should be undertaken only with risk capital funds that can be lost without jeopardizing one’s financial security or lifestyle, and only by those who can afford such losses. Past performance is not necessarily indicative of future results. Prior to trading digital assets, review the CFTC and NFA advisories for additional information regarding the significant risks involved. View Risk Disclosure Statement, including the Risk Disclosure Statement for Security Futures Products.
The website is for informational purposes only and does not constitute investment advice or an offer, solicitation, or recommendation to buy or sell any securities or financial instruments. It does not take into account your personal investment objectives, financial situation, or holdings. KGI Crusoe (KGI Securities (Singapore) Pte. Ltd.) makes no representation and assumes no liability for the accuracy or completeness of this information, or for any loss arising from its use.
This website is not intended for distribution to, or use by, any person in any jurisdiction where that would breach local law or regulation, including the European Economic Area, the United Kingdom and the United States.
This advertisement has not been reviewed by the Monetary Authority of Singapore.
© 2026 KGI Securities (Singapore) Pte. Ltd. All rights reserved.
KGI Crusoe
Legal and Regulatory
KGI Crusoe is a futures trading platform operated by KGI Securities (Singapore) Pte. Ltd. (Co. Reg. No. 195500144H), a holder of a Capital Markets Services Licence issued by the Monetary Authority of Singapore. Registered office: 4 Shenton Way, #13-01 SGX Centre 2, Singapore 068807.
NinjaTrader is a group of affiliated companies operating under NinjaTrader Group, LLC ("NTG"), including NinjaTrader, LLC ("NT") and NinjaTrader Clearing, LLC d/b/a NinjaTrader, Kraken Derivatives US, and Tradovate ("NTC"). NT owns and supports the proprietary NinjaTrader trading platform as a software development company, while NTC provides brokerage services. View Disclosures.
NTC is registered with the Commodity Futures Trading Commission ("CFTC") as a futures commission merchant ("FCM") and is a National Futures Association ("NFA") Member (NFA ID: 0309379). Registered office: 222 North Lasalle Street Suite 400 Chicago, IL 60601 United States. Questions related to brokerage accounts should be directed to your broker.
Futures trading involves substantial risk and is not suitable for everyone. An investor may lose all or more than the initial investment. Trading should be undertaken only with risk capital funds that can be lost without jeopardizing one’s financial security or lifestyle, and only by those who can afford such losses. Past performance is not necessarily indicative of future results. Prior to trading digital assets, review the CFTC and NFA advisories for additional information regarding the significant risks involved. View Risk Disclosure Statement, including the Risk Disclosure Statement for Security Futures Products.
The website is for informational purposes only and does not constitute investment advice or an offer, solicitation, or recommendation to buy or sell any securities or financial instruments. It does not take into account your personal investment objectives, financial situation, or holdings. KGI Crusoe (KGI Securities (Singapore) Pte. Ltd.) makes no representation and assumes no liability for the accuracy or completeness of this information, or for any loss arising from its use.
This website is not intended for distribution to, or use by, any person in any jurisdiction where that would breach local law or regulation, including the European Economic Area, the United Kingdom and the United States.
This advertisement has not been reviewed by the Monetary Authority of Singapore.
© 2026 KGI Securities (Singapore) Pte. Ltd. All rights reserved.
KGI Crusoe
Legal and Regulatory
KGI Crusoe is a futures trading platform operated by KGI Securities (Singapore) Pte. Ltd. (Co. Reg. No. 195500144H), a holder of a Capital Markets Services Licence issued by the Monetary Authority of Singapore. Registered office: 4 Shenton Way, #13-01 SGX Centre 2, Singapore 068807.
NinjaTrader is a group of affiliated companies operating under NinjaTrader Group, LLC ("NTG"), including NinjaTrader, LLC ("NT") and NinjaTrader Clearing, LLC d/b/a NinjaTrader, Kraken Derivatives US, and Tradovate ("NTC"). NT owns and supports the proprietary NinjaTrader trading platform as a software development company, while NTC provides brokerage services. View Disclosures.
NTC is registered with the Commodity Futures Trading Commission ("CFTC") as a futures commission merchant ("FCM") and is a National Futures Association ("NFA") Member (NFA ID: 0309379). Registered office: 222 North Lasalle Street Suite 400 Chicago, IL 60601 United States. Questions related to brokerage accounts should be directed to your broker.
Futures trading involves substantial risk and is not suitable for everyone. An investor may lose all or more than the initial investment. Trading should be undertaken only with risk capital funds that can be lost without jeopardizing one’s financial security or lifestyle, and only by those who can afford such losses. Past performance is not necessarily indicative of future results. Prior to trading digital assets, review the CFTC and NFA advisories for additional information regarding the significant risks involved. View Risk Disclosure Statement, including the Risk Disclosure Statement for Security Futures Products.
The website is for informational purposes only and does not constitute investment advice or an offer, solicitation, or recommendation to buy or sell any securities or financial instruments. It does not take into account your personal investment objectives, financial situation, or holdings. KGI Crusoe (KGI Securities (Singapore) Pte. Ltd.) makes no representation and assumes no liability for the accuracy or completeness of this information, or for any loss arising from its use.
This website is not intended for distribution to, or use by, any person in any jurisdiction where that would breach local law or regulation, including the European Economic Area, the United Kingdom and the United States.
This advertisement has not been reviewed by the Monetary Authority of Singapore.
© 2026 KGI Securities (Singapore) Pte. Ltd. All rights reserved.
KGI Crusoe