Introduction
Chicago Board of Trade (CBOT^®) Treasury futures are contractual obligations to either buy (take delivery of) or sell (make delivery of) the underlying US Treasury bonds or notes.  As such, the delivery process exerts significant influence on the prices at which Treasury futures contracts trade, even though most contracts are offset prior to expiration.

This booklet describes the Treasury futures delivery process and explains the rules and procedures that govern delivery.  It is intended as an introduction for those who wish to better understand the mechanics of delivery and how delivery can affect pricing of Treasury futures.

The CBOT offers a number of other publications on Treasury futures and options.  For a complete description of contract specifications, as well as a list of publications available, please visit the Exchange's web site (www.cbot.com).

For the full report view the PDF below.

 - Treasury Futures Delivery Process - 02.26.2007