About CME 13-Week T-bills Futures

As direct obligations of the U.S. government, U.S. Treasury bills are considered risk-free debt instruments and provide the foundation for the money markets because of their safety and liquidity. Due to their “risk-free” nature, changes in the T-bills reflect “pure” interest rate movements. CME 13-Week Treasury Bill futures trade on a side-by-side basis in the pit and on CME Globex®.

The CME 13-Week Treasury Bill contract is based on 3-month (13-week) U.S. Treasury bills having a face value at maturity of $1,000,000. The contract moves in 1/2-point increments (1/2 point = .005 = $12.50) with trading months of March, June, September, December, four months in the March quarterly cycle plus two months not in the March cycle (serial months).