{"id":42968,"date":"2026-06-22T21:42:31","date_gmt":"2026-06-23T02:42:31","guid":{"rendered":"https:\/\/library-staging.tradingtechnologies.com\/doc\/yield-type-calculations-2\/"},"modified":"2026-06-22T21:42:35","modified_gmt":"2026-06-23T02:42:35","slug":"yield-type-calculations-2","status":"publish","type":"doc","link":"https:\/\/library-staging.tradingtechnologies.com\/ja\/yield-type-calculations-2\/","title":{"rendered":"\u30a4\u30fc\u30eb\u30c9 \u30bf\u30a4\u30d7\u306e\u8a08\u7b97"},"content":{"rendered":"<p>TT \u3067\u306f\u3001\u5148\u7269\u3084\u50b5\u5238\u306e\u30a4\u30fc\u30eb\u30c9\u306e\u8a08\u7b97\u3092\u30b5\u30dd\u30fc\u30c8\u3057\u3066\u3044\u307e\u3059\u3002\u5148\u7269\u306e\u5834\u5408\u3001\u8a2d\u5b9a\u5024\u306b\u57fa\u3065\u3044\u3066\u3001\u30a4\u30fc\u30eb\u30c9\u8a08\u7b97\u306e\u30bf\u30a4\u30d7\u3092\u5909\u66f4\u3067\u304d\u307e\u3059\u3002<\/p>\n<h2>\u5148\u7269\u306e\u9806\u30a4\u30fc\u30eb\u30c9<\/h2>\n<p>\u3053\u306e\u4f8b\u3067\u306f\u3001ZF Mar21 \u9650\u6708\u306e\u73fe\u5728\u306e\u5148\u7269\u4fa1\u683c\u3092\u4f7f\u3063\u3066\u6700\u7d42\u53d7\u6e21\u65e5\u306e\u6700\u5272\u5b89\u9298\u67c4 (CTD) \u50b5\u5238\u3092\u8a08\u7b97\u3057\u3066\u3044\u307e\u3059\u3002\u3053\u308c\u306f\u3001\u4eca\u65e5\u306e\u4fa1\u683c\u3067\u5148\u7269\u9650\u3067\u30ed\u30f3\u30b0\u3092\u3044\u304f\u6295\u8cc7\u5bb6\u306b\u3068\u3063\u3066\u306e\u5229\u56de\u308a\u3067\u3042\u308a\u3001\u6708\u6700\u7d42\u53d7\u6e21\u65e5\u306e CTD \u50b5\u5238\u306e\u53d7\u6e21\u3092\u3068\u308a\u307e\u3059 (\u4f8b\u3001Bloomberg \u9806\u30a4\u30fc\u30eb\u30c9\u3084 CME \u5148\u7269\u30a4\u30fc\u30eb\u30c9\u306a\u3069)\u3002<\/p>\n<p>\u3053\u306e\u4f8b\u3067\u306f\u3001\u4ee5\u4e0b\u306e\u5185\u5bb9\u3092\u8003\u616e\u3057\u3066\u304f\u3060\u3055\u3044\u3002<\/p>\n<ul>\n<li>CTD \u4fa1\u683c\uff1d\u73fe\u5728\u306e\u5148\u7269\u4fa1\u683c x \u63db\u7b97\u4fc2\u6570  \u3067\u3059\u3002 <!-- <is this how the exchange calculates the ctd price? --><\/li>\n<li>\u7dcf\u73fe\u91d1\u5148\u7269\u30d9\u30fc\u30b7\u30b9\u5024\u306f 0 \u3067\u3059\u3002<\/li>\n<li>\u6c7a\u6e08\u65e5\u306f\u5148\u7269\u9650\u6708\u306e\u6700\u7d42\u53d7\u6e21\u65e5\u3067\u3059\u3002<\/li>\n<\/ul>\n<p>\u30a4\u30fc\u30eb\u30c9\u3092\u8a08\u7b97\u3059\u308b\u306b\u306f\u3001<a href=\"yld-configuring-and-displaying-yield.html\">Yield \u30a6\u30a3\u30b8\u30a7\u30c3\u30c8\u3001Autospreader\u3001MD Trader<\/a> \u304b\u3089 [<b>Edit Yield<\/b>] (\u30a4\u30fc\u30eb\u30c9\u306e\u7de8\u96c6) \u30c0\u30a4\u30a2\u30ed\u30b0 \u30dc\u30c3\u30af\u30b9\u3092\u958b\u304d\u3001\u4ee5\u4e0b\u306e\u5fc5\u9808\u6b04\u3092\u8a2d\u5b9a\u3057\u307e\u3059\u3002<\/p>\n<p><!--   \n\n<p>  <img decoding=\"async\" class=\"img-responsive\" src=\"Content\/yield-use-future.png\"> <\/img><\/p>\n\n --><\/p>\n<p><img decoding=\"async\" class=\"img-responsive\" src=\"https:\/\/library-staging.tradingtechnologies.com\/wp-content\/uploads\/2026\/06\/yield-use-future-5-1.png\"><\/p>\n<p>\u3053\u306e\u8a2d\u5b9a\u306b\u306f\u4ee5\u4e0b\u306e\u5185\u5bb9\u3092\u5b9f\u884c\u3057\u307e\u3059\u3002<\/p>\n<ul><!-- \n\n<li>Select a <b>Yield Type<\/b> of \"FUT\". --><\/p>\n<li>[<b>Conversion Factor<\/b>] (\u63db\u7b97\u4fc2\u6570) \u3092 \u300cZF\u300d\u306b\u8a2d\u5b9a\u3057\u307e\u3059\u3002<\/li>\n<li><a href=\"https:\/\/www.cmegroup.com\/tools-information\/quikstrike\/treasury-analytics.html?redirect=\/trading\/interest-rates\/invoice-spread-calculator.html\">\u6700\u5272\u5b89\u9298\u67c4<\/a>\u306e\u300c5\u5e74\u300d\u56fd\u50b5\u5024\u3092\u4f7f\u3063\u3066\u3001[<b>Coupon Rate<\/b>] (\u30af\u30fc\u30dd\u30f3 \u30ec\u30fc\u30c8\u3001\u8868\u9762\u5229\u7387)\u3001[<b>Maturity Date<\/b>] (\u6e80\u671f\u65e5)\u3001[<b>Delivery Date<\/b>] (\u53d7\u6e21\u65e5) \u3092\u5165\u529b\u3057\u307e\u3059\u3002<\/li>\n<li>[<b>Settlement Date<\/b>] (\u6c7a\u6e08\u65e5) \u3068 [<b>Delivery Date<\/b>] (\u53d7\u6e21\u65e5) \u3092\u540c\u3058\u306b\u8a2d\u5b9a\u3057\u307e\u3059\u3002<\/li>\n<li>[<b>Contract Date<\/b>] (\u9650\u6708\u65e5) \u6700\u521d\u306e\u6e80\u671f\u6708\u306b\u8a2d\u5b9a\u3057\u307e\u3059 (ZF Mar21 = 3\/1\/21)\u3002<\/li>\n<li>[<b>Basis Type<\/b>] \u6b04\u3067\u306f\u3001\u300cGross Basis\u300d\u3092\u9078\u629e\u3057\u307e\u3059\u3002<\/li>\n<li>[<b>Basis Value<\/b>] \u3092 [0] \u306b\u8a2d\u5b9a\u3057\u307e\u3059\u3002<\/li>\n<\/ul>\n<p>\u3053\u306e\u8a2d\u5b9a\u304c MD Trader \u3067\u9078\u629e\u3055\u308c\u308b\u3068\u3001[<b>Yield<\/b>] \u5217\u306b\u306f\u30a4\u30fc\u30eb\u30c9\u3067\u9650\u6708\u4fa1\u683c\u304c\u8868\u793a\u3055\u308c\u307e\u3059\u3002<\/p>\n<p><!--  \n\n<p>  <img decoding=\"async\" class=\"img-responsive\" src=\"Content\/yield-use-future-display.png\"> <\/img><\/p>\n\n --> <!--  \n\n<p>  <img decoding=\"async\" class=\"img-responsive\" src=\"Content\/yield-use-futures-mdt.png\"> <\/img><\/p>\n\n --><\/p>\n<p><img decoding=\"async\" class=\"img-responsive\" src=\"https:\/\/library-staging.tradingtechnologies.com\/wp-content\/uploads\/2026\/06\/yield-use-futures-mdt-5-1.png\"><\/p>\n<h2>CTD \u306e\u30a4\u30fc\u30eb\u30c9<\/h2>\n<p>CTD \u50b5\u5238\u306e\u30a4\u30fc\u30eb\u30c9\u306f\u3001\u73fe\u5728\u306e\u5148\u7269\u4fa1\u683c\u306e\u4f7f\u7528\u3084\u73fe\u7269 (cash) \u5148\u7269\u30d9\u30fc\u30b7\u30b9\u3001\u307e\u305f\u7fcc\u65e5\u6c7a\u6e08\u306b\u57fa\u3065\u3044\u3066\u3044\u307e\u3059\u3002\u3053\u308c\u306f\u3001CTD \u50b5\u5238\u3092\u9069\u6b63\u5e02\u4fa1\u3067\u8cb7\u3046\u6295\u8cc7\u5bb6\u306b\u5bfe\u3059\u308b\u30a4\u30fc\u30eb\u30c9\u3067\u3059 (Bloomberg CTD \u30a4\u30fc\u30eb\u30c9\u306a\u3069)\u3002\u3053\u306e\u4f8b\u3067\u306f&#8230;<\/p>\n<ul>\n<li>CTD \u4fa1\u683c\uff1d ZF Mar21 \u9650\u6708\u306e\u73fe\u5728\u306e\u5148\u7269\u4fa1\u683c x \u63db\u7b97\u4fc2\u6570 &#8211; \u73fe\u7269\u5148\u7269\u30d9\u30fc\u30b7\u30b9  &#8230;\u3068\u306a\u308a\u307e\u3059\u3002<\/li>\n<li>\u6c7a\u6e08\u65e5\u306f\u7fcc\u55b6\u696d\u65e5\u3067\u3059\u3002<\/li>\n<\/ul>\n<p>\u3053\u306e\u4f8b\u306e\u30a4\u30fc\u30eb\u30c9\u3092\u8a08\u7b97\u3059\u308b\u306b\u306f\u3001<a href=\"yld-configuring-and-displaying-yield.html\">Yield \u30a6\u30a3\u30b8\u30a7\u30c3\u30c8\u3001Autospreader\u3001MD Trader<\/a> \u304b\u3089 [<b>Edit Yield<\/b>] (\u30a4\u30fc\u30eb\u30c9\u306e\u7de8\u96c6) \u30c0\u30a4\u30a2\u30ed\u30b0 \u30dc\u30c3\u30af\u30b9\u3092\u958b\u304d\u3001\u4ee5\u4e0b\u306e\u5fc5\u9808\u6b04\u3092\u8a2d\u5b9a\u3057\u307e\u3059\u3002 <!--  \n\n<p>  <img decoding=\"async\" class=\"img-responsive\" src=\"Content\/yield-use-ctd-2.png\"> <\/img><\/p>\n\n --><\/p>\n<p><img decoding=\"async\" class=\"img-responsive\" src=\"https:\/\/library-staging.tradingtechnologies.com\/wp-content\/uploads\/2026\/06\/yield-use-ctd-5-1.png\"><\/p>\n<p>\u3053\u306e\u8a2d\u5b9a\u306b\u306f\u4ee5\u4e0b\u306e\u5185\u5bb9\u3092\u5b9f\u884c\u3057\u307e\u3059\u3002<\/p>\n<ul><!-- \n\n<li>Select a <b>Yield Type<\/b> of \"FUT\". --><\/p>\n<li>[<b>Conversion Factor<\/b>] (\u63db\u7b97\u4fc2\u6570) \u3092 \u300cZF\u300d\u306b\u8a2d\u5b9a\u3057\u307e\u3059\u3002<\/li>\n<li><a href=\"https:\/\/www.cmegroup.com\/tools-information\/quikstrike\/treasury-analytics.html?redirect=\/trading\/interest-rates\/invoice-spread-calculator.html\">\u6700\u5272\u5b89\u9298\u67c4<\/a>\u306e\u300c5\u5e74\u300d\u56fd\u50b5\u5024\u3092\u4f7f\u3063\u3066\u3001[<b>Coupon Rate<\/b>] (\u30af\u30fc\u30dd\u30f3 \u30ec\u30fc\u30c8\u3001\u8868\u9762\u5229\u7387)\u3001[<b>Maturity Date<\/b>] (\u6e80\u671f\u65e5)\u3001[<b>Delivery Date<\/b>] (\u53d7\u6e21\u65e5) \u3092\u5165\u529b\u3057\u307e\u3059\u3002<\/li>\n<li>[<b>Settlement Date<\/b>] (\u6c7a\u6e08\u65e5) \u306f \u300c\u7fcc\u65e5\u300d(T\uff0b\uff11) \u306b\u8a2d\u5b9a\u3057\u307e\u3059\u3002<\/li>\n<li>[<b>Contract Date<\/b>] (\u9650\u6708\u65e5) \u6700\u521d\u306e\u6e80\u671f\u6708\u306b\u8a2d\u5b9a\u3057\u307e\u3059 (ZF Mar21 = 3\/1\/21)\u3002<\/li>\n<li>[<b>Basis Type<\/b>] \u6b04\u3067\u306f\u3001\u300cTarget IRP\u300d\u3092\u9078\u629e\u3057\u307e\u3059\u3002<\/li>\n<li>[<b>Basis Value<\/b>] \u3092 Target IRP \u5024\u3068\u540c\u3058\u306b\u8a2d\u5b9a\u3057\u307e\u3059 (265 \u306a\u3069)\u3002<\/li>\n<\/ul>\n<p>\u3053\u306e\u8a2d\u5b9a\u304c MD Trader \u3067\u9078\u629e\u3055\u308c\u308b\u3068\u3001[<b>Yield<\/b>] \u5217\u306b\u306f\u30a4\u30fc\u30eb\u30c9\u3067\u9650\u6708\u4fa1\u683c\u304c\u8868\u793a\u3055\u308c\u307e\u3059\u3002<\/p>\n<p><!--   \n\n<p>  <img decoding=\"async\" class=\"img-responsive\" src=\"Content\/yield-use-ctd-2-display.png\"> <\/img><\/p>\n\n --><\/p>\n<p><img decoding=\"async\" class=\"img-responsive\" src=\"https:\/\/library-staging.tradingtechnologies.com\/wp-content\/uploads\/2026\/06\/yield-use-ctd-5-display-1.png\"><\/p>\n<h2>\u56fd\u50b5\u306e\u30a4\u30fc\u30eb\u30c9<\/h2>\n<p>\u56fd\u50b5\u306e\u8a2d\u5b9a\u306b\u306f\u3001\u300c\u30af\u30fc\u30dd\u30f3 \u30ec\u30fc\u30c8\u300d\u3001\u300c\u6e80\u671f\u65e5\u300d\u3001\u300c\u6c7a\u6e08\u65e5\u300d\u306e\u307f\u304c\u5fc5\u9808\u3068\u306a\u308a\u307e\u3059\u3002\u53d6\u5f15\u6240\u306e\u4e2d\u306b\u306f\u9650\u6708\u306e\u5b9a\u7fa9\u3067\u3053\u306e\u60c5\u5831\u3092\u63d0\u4f9b\u3057\u3066\u3044\u308b\u3068\u3053\u308d\u3082\u3042\u308a\u307e\u3059\u3002\u3053\u308c\u3092\u8868\u793a\u3059\u308b\u306b\u306f MD Trader \u3067 [Ctrl] + [Shift] + X \u3092\u62bc\u3057\u307e\u3059\u3002<\/p>\n<p><img decoding=\"async\" class=\"img-responsive\" src=\"https:\/\/library-staging.tradingtechnologies.com\/wp-content\/uploads\/2026\/06\/yield-use-bond-def-1.png\"><\/p>\n<p>\u4f8b\u3048\u3070\u3001CME_BrokerTec 10\u5e74\u56fd\u50b5\u9298\u67c4\u306e\u300c\u5b9a\u7fa9\u300d\u6b04\u306b\u306f\u3001\u30b7\u30f3\u30dc\u30eb (UB10)\u3001\u30af\u30fc\u30dd\u30f3 (\u215e \u307e\u305f\u306f 0.875)\u3001\u6e80\u671f\u65e5 (11\/30 \u307e\u305f\u306f Nov 2030) \u306e\u5024\u304c\u542b\u307e\u308c\u307e\u3059\u3002<\/p>\n<p>\u3053\u306e\u4f8b\u306e\u30a4\u30fc\u30eb\u30c9\u3092\u8a08\u7b97\u3059\u308b\u306b\u306f\u3001<a href=\"yld-configuring-and-displaying-yield.html\">Yield \u30a6\u30a3\u30b8\u30a7\u30c3\u30c8\u3001Autospreader\u3001MD Trader<\/a> \u304b\u3089 [<b>Edit Yield<\/b>] (\u30a4\u30fc\u30eb\u30c9\u306e\u7de8\u96c6) \u30c0\u30a4\u30a2\u30ed\u30b0 \u30dc\u30c3\u30af\u30b9\u3092\u958b\u304d\u3001\u4ee5\u4e0b\u306e\u5fc5\u9808\u6b04\u3092\u8a2d\u5b9a\u3057\u307e\u3059\u3002<\/p>\n<p><img decoding=\"async\" class=\"img-responsive\" src=\"https:\/\/library-staging.tradingtechnologies.com\/wp-content\/uploads\/2026\/06\/yield-use-bond-1.png\"><\/p>\n<p>\u3053\u306e\u8a2d\u5b9a\u306b\u306f\u4ee5\u4e0b\u306e\u5185\u5bb9\u3092\u5b9f\u884c\u3057\u307e\u3059\u3002<\/p>\n<ul>\n<li>\u9650\u6708\u5b9a\u7fa9\u304b\u3089 [<b>Coupon Rate<\/b>] \u3068 [<b>Maturity Date<\/b>] \u3092\u5165\u529b\u3057\u307e\u3059\u3002<\/li>\n<li>[<b>Settlement Date<\/b>] (\u6c7a\u6e08\u65e5) \u306f \u300c\u7fcc\u65e5\u300d(T\uff0b\uff11) \u306b\u8a2d\u5b9a\u3057\u307e\u3059\u3002<\/li>\n<\/ul>\n<p>\u3053\u306e\u8a2d\u5b9a\u304c MD Trader \u3067\u9078\u629e\u3055\u308c\u308b\u3068\u3001[<b>Yield<\/b>] \u5217\u306b\u306f\u30a4\u30fc\u30eb\u30c9\u3067\u9650\u6708\u4fa1\u683c\u304c\u8868\u793a\u3055\u308c\u307e\u3059\u3002<\/p>\n<p><img decoding=\"async\" class=\"img-responsive\" src=\"https:\/\/library-staging.tradingtechnologies.com\/wp-content\/uploads\/2026\/06\/yield-use-bond-result-1.png\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>TT \u3067\u306f\u3001\u5148\u7269\u3084\u50b5\u5238\u306e\u30a4\u30fc\u30eb\u30c9\u306e\u8a08\u7b97\u3092\u30b5\u30dd\u30fc\u30c8\u3057\u3066\u3044\u307e\u3059\u3002\u5148\u7269\u306e\u5834\u5408\u3001\u8a2d\u5b9a\u5024\u306b\u57fa\u3065\u3044\u3066\u3001\u30a4\u30fc\u30eb\u30c9\u8a08\u7b97\u306e\u30bf\u30a4\u30d7\u3092\u5909\u66f4\u3067\u304d\u307e\u3059\u3002 \u5148\u7269\u306e\u9806\u30a4\u30fc\u30eb\u30c9 \u3053\u306e\u4f8b\u3067\u306f\u3001ZF Mar21 \u9650\u6708\u306e\u73fe\u5728\u306e\u5148\u7269\u4fa1\u683c\u3092\u4f7f\u3063\u3066\u6700\u7d42\u53d7\u6e21\u65e5\u306e\u6700\u5272 [&hellip;]<\/p>\n","protected":false},"author":2,"template":"","meta":{"_acf_changed":false,"footnotes":""},"docs-category":[910],"class_list":["post-42968","doc","type-doc","status-publish","hentry","docs-category-use-cases-trading-in-yield"],"acf":[],"_links":{"self":[{"href":"https:\/\/library-staging.tradingtechnologies.com\/ja\/wp-json\/wp\/v2\/doc\/42968","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/library-staging.tradingtechnologies.com\/ja\/wp-json\/wp\/v2\/doc"}],"about":[{"href":"https:\/\/library-staging.tradingtechnologies.com\/ja\/wp-json\/wp\/v2\/types\/doc"}],"author":[{"embeddable":true,"href":"https:\/\/library-staging.tradingtechnologies.com\/ja\/wp-json\/wp\/v2\/users\/2"}],"version-history":[{"count":0,"href":"https:\/\/library-staging.tradingtechnologies.com\/ja\/wp-json\/wp\/v2\/doc\/42968\/revisions"}],"wp:attachment":[{"href":"https:\/\/library-staging.tradingtechnologies.com\/ja\/wp-json\/wp\/v2\/media?parent=42968"}],"wp:term":[{"taxonomy":"docs-category","embeddable":true,"href":"https:\/\/library-staging.tradingtechnologies.com\/ja\/wp-json\/wp\/v2\/docs-category?post=42968"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}