CBOT Board Approves 6% Coupon for Treasury Futures

The Chicago Board of Trade Board of Directors voted to change the notional coupon from eight percent to six percent for all Treasury futures and the Munici[al Bond Index futures, beginning with March 2000 contracts. The change is based on a recommendation to the Board from the CBOT Business Development Committee. The modification affects the CBOT U.S. T-bond, 10-year T-note, 5-year T-note, 2-year T-note and Municipal Bond futures. The CBOT will submit the changes to the Commodity Futures Trading Commission this week for regulatory approval, and the changes will be implemented when approved.