Hello, I am starting to investigate trading ZN and am working on the logistics. Since I use TS and IB, I use YN04M and ZN04M to monitor the electronic contract. However, and I apologize for such a simple question, I can't reconcile the CBOT contract description with the IB-Ticks. On CBOT's site they say a ZN tick is "One half of 1/32 of a point ($15.625/contract) rounded up" So the implication is there are 64 ticks per point. However, when I get a quote, it moves in .005 increments. E.g. Bid 108'170 and Ask 108'175. Question is: 1) what does a .005 increment mean in relationship to a "point"? And how much is it worth? 2) What does the " '170" mean in a quote of 108'170 3) what constitutes a "point". I thought 108'000 to 109'000 was a point, but obviously that is not correct. I am just trying to figure what a 1 tick spread is worth in dollars in order to see what type of stop and targets are reasonable for day trading scalping positions. Any help is greatly appreciated so I can get off the ground at least.