Long-term Municipal Bond Index Futures

Trading Unit: $ 1,000 times the closing value of The Bon Buyer Municipal Bond Index. A price of 90-00 reflects a contract size of $90,000.

Price Quote: Points ($ 1,000) and thirty-seconds of a point; for example, 85-16 equals 85 16/32.

Tick Size: 1/32 of a point ($31.25/contract)

Daily Price Limit: 3 points ($3,000/contract) above or below the previous day's settlement price (expandable to 4 points)

Contract Months: Mar, Jun, Sep, Dec

Last Trading Day: Seventh business day preceding the last business day of the delivery month

Settlement: Municipal Bond Index futures settle in cash on the list day of trading. Settlement price equals The Bond Buyer municipal bond index value on that day.

Trading Hours: 7:20 am to 2:00 p.m. Chicago time, Mon Fri. 'Trading in expiring contracts closes at 2:00 p.m. on the last trading day.

Ticker Symbol: MB

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