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Small 10YR
A New Way to Trade Interest Rates
Initial Margin*
$275
Size*
$1,500
Contract Specifications
Minimum Tick
0.01 ($1.00)
Wouldn't it be nice to trade bonds without a calculator? The Small 10 Year US Treasury Yield Futures Contract (S10Y)® simplifies variables in interest rates into a single, succinct yield so you can skip the calculations and just trade rates.
†[my] is the first letter of the month and the last number of the year.
‡[myy] is the first letter of the month and the last two numbers of the year.
Pair the Benefits of Futures with the Clarity of Stocks
Efficient margining requires 10-50x less capital than stocks or ETFs
Futures are not subject to the Pattern Day Trading Rule
Futures receive a more favorable tax treatment than stocks
Futures contracts can be more capital-efficient than stocks, but their complex design and large size have kept investors from adopting them for speculative and risk management needs. The Smalls offer the best of both worlds with products that are small, standard, and simple.
Smalls
ETF
Small.
Capital
Required
1-10%
50-100%
The Size
Each product has smaller proportions than most existing futures and more efficient margining than traditional stocks and ETFs.
Cheaper than stocks and ETFs
Smalls
Futures
Size
±$40 - $100
±$500 - $1,500
Smaller than traditional futures
Futures are financial contracts to buy or sell an asset at a set price on a set date in the future. Exchange-traded funds (ETFs) are tradable products made up of securities, such as stocks. A stock is a security that represents an ownership position in a corporation.
Maximize your return on capital with products that demand less capital.
Speculate on Short-Term Action
Capitalize on market opportunities with exposure to multiple asset classes.
Hedge from Unwanted Volatility
Protect your portfolio with liquid, cash settled futures.
The Future of Trading is Small
We believe in low-cost, standard futures products that keep you focused on trading. Our fees are materially lower than traditional exchanges and we don't distinguish between professional and non-professional traders who wish to receive our market data. From stocks and bonds to commodities and currencies, our entire product suite was designed with an efficiency that empowers like futures and a construction that’s simple like stocks.
