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They have mixed up the terms . The CTD bond has a conversion factor , while the futures contract may have a number of alternative bonds that COULD be delivered , each having its own conversion factor .

They used the CTD bonds conversion factor and just short-formed it into the "conversion factor for the futures contract" .

The actual CTD to be delivered by the short is only known the day before delivery ( depending on the richness of the alternatives) , so you certainly do not know the conversion factor or indeed the price of the bond, when you buy the futures contract.