The CBOE lists the current price for a June 2013 10-Year Treasury future as 132'155. The contract specifications state that the price quote is Points ($1,000) and halves of 1/32 of a point.
Does this mean that if I want to buy one June 10-Year Treasury Future, I would have to pay $132,484.375*?
*That is (132 + 15.5 / 32) * $1000.
No, it means that is how much it would cost to accept delivery of that contract.
In your link, look at the next tab "Performance Bond/Margin" and it shows you how much money you ACTUALLY have to put down to establish the contract and gain profits or losses from the fluctuations of $132,484 dollars. The answer as of this time is $1,485 dollars.
Yes, you are reading that correctly, with $1,485 dollars you have secured a $132,484 asset with no evaluation of your credit worthiness.
