The document discusses trading and settlement processes for yield-based options related to 5-year Treasury notes. It explains how trading is based on current auction yields and how exercise prices and premiums are determined. The document also mentions the role of the Federal Reserve Bank of New York in announcing spot yields for Treasury securities.
documents/vol00010-efta01353428-pdf.pdf
{"document_type":"financial","key_organizations":["Federal Reserve Bank of New York"]}