The 2USNote's underlying instrument is the CME US 2-Year T-Note Futures. Treasury Notes, called T-Notes for short, are referred to as medium-term to mature of the government-issued securities. 2-Year T-Notes is one the most traded treasuries backed by the U.S. government.
Can be viewed in the dealing rates and create order windows on the trading station, or by using the CFD Product Guide
Trading Hours, Expiration and Reference Month
Please click here for trading hours. Please note, however, that hours are subject to change based on Daylight Savings Time. Any holiday hours will be posted here. FXCM expiration dates and current reference month for 2USNote are located in the FRIEDBERG DIRECT CFD Expiration PDF.
If you have an open position, the reference month you are trading will not be changed, although expiration dates may be amended. Upcoming reference months may be changed with no prior notice. Please ensure you are aware of which reference month is currently being priced, prior to opening a trade.
Clients that hold an open position on the ‘FXCM Expiration’ will be closed at our bid/offer at 17:00 New York time for 2USNote, which means the client will realise any floating P/L at the time it is closed. When 2USNote expires, all pending Entry orders and Stop/Limit orders that are associated with the expiring contract will be cancelled. Clients will need to re-establish another position if desired after the expiration and reinsert Stop and Limit orders to the new open position.
The 2USNote has a target spread of 2.0 pips/points.
Max Contract Size
The maximum number of contracts per click (trade) for 2USNote is 500.
Minimum Pip Cost (Value)
The 2USNote has a minimum value of 0.10 USD per point (Your per point value may be different if your account is denominated in a different currency. Please refer to the Simple Dealing Rates Window in Trading Station for this value).
The pip/point location is shown below. Each 0.01 price movement on the 2USNote is 1 pip/point. Friedberg Direct’s pricing displays an additional decimal place - ideal for scalpers in a fast-moving market.
Number of Friedberg Direct Contracts to Equal 1 Future
200 Friedberg Direct 2USNote Contracts are currently equivalent to one 2-Year US Treasury Note Future.
The 2USNote has no financing cost (Rollover).