ZT tick value and contract specs
2-Year U.S. Treasury Note futures on CBOT: what one tick is worth, the full exchange specification, and what a move costs on a prop firm account.
What is the ZT tick value?
One ZT tick is 1/8 of 1/32 of a point, worth $7.8125 per contract. One full point (32/32nds) is worth $2,000, so a move of 0.125 points is 32 ticks, or $250 on one contract.
ZT contract specifications
From CME Group, read 2026-09-22.
Specification
Value
Source: CME Group - 2-Year T-Note contract specs, retrieved 2026-09-22. Margin is omitted: it changes often and differs by broker.
ZT ticks to dollars
Profit or loss = ticks moved × tick value × contracts.
Price move
Ticks
1 contract
5 contracts
10 contracts
ZT and prop firm drawdown
A prop firm’s drawdown limit is a dollar amount, so the useful question is how far the market can move against you before you hit it. On a $2,000 limit, one ZT contract has 1 point (256 ticks) of room; five contracts have 0.19921875 points (51 ticks). A trailing drawdown shrinks that room as open profit is given back, so measure from where the limit is now, not where it started.
ZT trading hours
Central Time (CT)
Eastern Time (ET)
Daily break
CME sets hours in Chicago time. ET is always CT + 1 hour, because both zones change for daylight saving on the same dates.
ZT hours and holidays
ZT trades on CME Globex Sunday–Friday 5:00 pm – 4:00 pm CT (6:00 pm – 5:00 pm ET), with a daily maintenance break from 4:00 pm to 5:00 pm CT. See whether it is open right now, in your own time zone, on the futures market hours page. Holidays close or shorten the session - the CME holiday schedule for 2026 lists every one.
ZT contract months
Quarterly contracts (Mar, Jun, Sep, Dec) listed for 3 consecutive quarters.
Month code
Month
Example symbol
ZTZ26 is the December 2026 contract.
Reading a contract symbol
A full symbol is the product code, the month code and the year. How the codes work, and when volume rolls to the next contract, is on the futures month codes page.
Which prop firms allow ZT?
Prop firms and ZT
Each futures prop firm publishes its own list of permitted products and its own contract limits, and many count micros differently from minis. We do not yet record those lists symbol by symbol, so this page does not name firms rather than guess. Compare futures prop firms and check the firm’s rules page for ZT before you buy an evaluation.
FAQs - ZT
Facts checked 2026-09-22 against CME Group contract specifications.
One ZT tick is 1/8 of 1/32 of a point, worth $7.8125 per contract. One full point (32/32nds) is worth $2,000, so a move of 0.125 points is 32 ticks, or $250 on one contract.
One full point (32/32nds) is worth $2,000 per ZT contract: 256 ticks of $7.8125.
ZT trades on CME Globex Sunday–Friday 5:00 pm – 4:00 pm CT (6:00 pm – 5:00 pm ET), with a daily maintenance break from 4:00 pm to 5:00 pm CT. In Eastern Time that is Sun 6:00 pm – Fri 5:00 pm. Holidays shorten or close sessions.
Quarterly contracts (Mar, Jun, Sep, Dec) listed for 3 consecutive quarters. Month codes: H (Mar), M (Jun), U (Sep), Z (Dec).
ZT is physically delivered. Last trading day: 12:01 pm CT on the last business day of the contract month. Most traders roll to the next contract month before then.
CME Group sets the exchange margin for ZT and changes it often, and brokers set their own day-trading margins on top. A prop firm account does not post margin: the firm’s drawdown limit and contract limit cap the risk instead. For a current exchange figure, check CME Group’s margin page for the contract.
Related reference
More futures reference, and where these rules meet prop firm terms.
ZB - U.S. Treasury Bond contract specs
UB - Ultra U.S. Treasury Bond contract specs
ZN - 10-Year U.S. Treasury Note contract specs
ZF - 5-Year U.S. Treasury Note contract specs
Futures contract specs: all contracts
Futures market hours: open now?
CME holiday schedule 2026
Futures tick values explained
Futures contract month codes
Micro vs mini futures
Futures prop firms compared
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