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Delivery, Exercise and Corporate Actions

Futures Close-Out Policy


Physically delivered products (which include products eligible and ineligible to trade at negative prices) are subject to a close-out period1. Also subject to a close-out period are oil-related futures contracts which are eligible to trade at negative prices, which includes those with settlement in terms of either physical delivery or cash settlement at expiration.

As the risk of a product's value may decline into negative prices, and to avoid deliveries of expiring futures contracts, including those resulting from futures options expiry, clients must roll forward or close out positions prior to the start of the Close-Out deadline specific to that contract. Any physically delivered contract, including cash settled oil futures contracts which are not closed out within the specified time frame, may be liquidated by IBKR without prior notification. Additionally, beginning five business days prior to expiration, only margin-reducing transactions in expiring month contracts will be accepted for oil-based products eligible to trade at negative prices.



Exchange Trading Class Contract Month Description Applicable to Cash/IRA Accounts Only Start of Close-Out Period 2 Long Futures Cutoff 3 Long Futures Liquidation 5 Short Futures Cutoff 4 Short Futures Liquidation 5
SGX TF 202111 SICOM Rubber No 2 business days prior to cutoff 2021/10/29 00:00 (ST) 2021/10/28 7:55 (ST) 2021/10/29 18:00 (ST) 2021/10/28 7:55 (ST)
SGX TF 202112 SICOM Rubber No 2 business days prior to cutoff 2021/11/30 00:00 (ST) 2021/11/29 7:55 (ST) 2021/11/30 18:00 (ST) 2021/11/29 7:55 (ST)
SGX TF 202201 SICOM Rubber No 2 business days prior to cutoff 2021/12/30 00:00 (ST) 2021/12/29 7:55 (ST) 2021/12/30 18:00 (ST) 2021/12/29 7:55 (ST)
SGX TF 202202 SICOM Rubber No 2 business days prior to cutoff 2022/01/28 00:00 (ST) 2022/01/27 7:55 (ST) 2022/01/28 18:00 (ST) 2022/01/27 7:55 (ST)
SGX TF 202203 SICOM Rubber No 2 business days prior to cutoff 2022/02/28 00:00 (ST) 2022/02/25 7:55 (ST) 2022/02/28 18:00 (ST) 2022/02/25 7:55 (ST)
SGX TF 202204 SICOM Rubber No 2 business days prior to cutoff 2022/03/31 00:00 (ST) 2022/03/30 7:55 (ST) 2022/03/31 18:00 (ST) 2022/03/30 7:55 (ST)
SGX TF 202205 SICOM Rubber No 2 business days prior to cutoff 2022/04/29 18:00 (ST) 2022/04/28 7:55 (ST) 2022/05/01 18:00 (ST) 2022/04/28 7:55 (ST)
SGX UC 202106 US Dollar in offshore renmimbi Yes(1) 2 business days prior to cutoff 2021/06/11 11:00 (ST) 2021/06/10 7:40 (ST) 2021/06/11 11:00 (ST) 2021/06/10 7:40 (ST)
SGX UC 202109 US Dollar in offshore renmimbi Yes(1) 2 business days prior to cutoff 2021/09/13 11:00 (ST) 2021/09/10 7:40 (ST) 2021/09/13 11:00 (ST) 2021/09/10 7:40 (ST)
SGX UC 202112 US Dollar in offshore renmimbi Yes(1) 2 business days prior to cutoff 2021/12/13 11:00 (ST) 2021/12/10 7:40 (ST) 2021/12/13 11:00 (ST) 2021/12/10 7:40 (ST)
SGX UC 202203 US Dollar in offshore renmimbi Yes(1) 2 business days prior to cutoff 2022/03/14 11:00 (ST) 2022/03/11 7:40 (ST) 2022/03/14 11:00 (ST) 2022/03/11 7:40 (ST)
SGX UC 202105 US Dollar in offshore renmimbi Yes(1) 2 business days prior to cutoff 2021/05/17 11:00 (ST) 2021/05/14 7:40 (ST) 2021/05/17 11:00 (ST) 2021/05/14 7:40 (ST)
SGX UC 202107 US Dollar in offshore renmimbi Yes(1) 2 business days prior to cutoff 2021/07/19 11:00 (ST) 2021/07/16 7:40 (ST) 2021/07/19 11:00 (ST) 2021/07/16 7:40 (ST)
SGX UC 202108 US Dollar in offshore renmimbi Yes(1) 2 business days prior to cutoff 2021/08/16 11:00 (ST) 2021/08/13 7:40 (ST) 2021/08/16 11:00 (ST) 2021/08/13 7:40 (ST)
SGX UC 202110 US Dollar in offshore renmimbi Yes(1) 2 business days prior to cutoff 2021/10/18 11:00 (ST) 2021/10/15 7:40 (ST) 2021/10/18 11:00 (ST) 2021/10/15 7:40 (ST)
SGX UC 202111 US Dollar in offshore renmimbi Yes(1) 2 business days prior to cutoff 2021/11/15 11:00 (ST) 2021/11/12 7:40 (ST) 2021/11/15 11:00 (ST) 2021/11/12 7:40 (ST)
SGX UC 202201 US Dollar in offshore renmimbi Yes(1) 2 business days prior to cutoff 2022/01/17 11:00 (ST) 2022/01/14 7:40 (ST) 2022/01/17 11:00 (ST) 2022/01/14 7:40 (ST)
SGX UC 202202 US Dollar in offshore renmimbi Yes(1) 2 business days prior to cutoff 2022/02/14 11:00 (ST) 2022/02/11 7:40 (ST) 2022/02/14 11:00 (ST) 2022/02/11 7:40 (ST)
SGX UC 202204 US Dollar in offshore renmimbi Yes(1) 2 business days prior to cutoff 2022/04/14 11:00 (ST) 2022/04/13 7:40 (ST) 2022/04/14 11:00 (ST) 2022/04/13 7:40 (ST)
SMFE S10Y 202105 Small 10 YR US Treasury Yield No 2 business days prior to cutoff 2021/05/21 15:00 2021/05/20 7:00 2021/05/21 15:00 2021/05/20 7:00
SMFE S10Y 202106 Small 10 YR US Treasury Yield No 2 business days prior to cutoff 2021/06/18 15:00 2021/06/17 7:00 2021/06/18 15:00 2021/06/17 7:00
SMFE S2Y 202105 Small 2 YR US Treasury Yield No 2 business days prior to cutoff 2021/05/21 15:00 2021/05/20 7:00 2021/05/21 15:00 2021/05/20 7:00
SMFE S2Y 202106 Small 2 YR US Treasury Yield No 2 business days prior to cutoff 2021/06/18 15:00 2021/06/17 7:00 2021/06/18 15:00 2021/06/17 7:00
SMFE S30Y 202105 Small 30 YR US Treasury Yield No 2 business days prior to cutoff 2021/05/21 15:00 2021/05/20 7:00 2021/05/21 15:00 2021/05/20 7:00
SMFE S30Y 202106 Small 30 YR US Treasury Yield No 2 business days prior to cutoff 2021/06/18 15:00 2021/06/17 7:00 2021/06/18 15:00 2021/06/17 7:00
SMFE SMO 202105 Small Oil No 2 business days prior to cutoff 2021/05/13 13:30 2021/05/12 7:00 2021/05/13 13:30 2021/05/12 7:00
SMFE SMO 202106 Small Oil No 2 business days prior to cutoff 2021/06/10 13:30 2021/06/09 7:00 2021/06/10 13:30 2021/06/09 7:00
SNFE IR 202106 90 day bank accepted bill No 2 business days prior to cutoff 2021/06/10 12:00 2021/06/09 8:28 2021/06/10 12:00 2021/06/09 8:28
SNFE IR 202109 90 day bank accepted bill No 2 business days prior to cutoff 2021/09/09 12:00 2021/09/08 8:28 2021/09/09 12:00 2021/09/08 8:28
SNFE IR 202112 90 day bank accepted bill No 2 business days prior to cutoff 2021/12/09 12:00 2021/12/08 8:28 2021/12/09 12:00 2021/12/08 8:28
SNFE IR 202203 90 day bank accepted bill No 2 business days prior to cutoff 2022/03/10 12:00 2022/03/09 8:28 2022/03/10 12:00 2022/03/09 8:28
SOFFEX CONF 202106 SWISS BONDS No 2 hours prior to cutoff 2021/06/08 12:30 (CET) 2021/06/08 10:30 (CET) 2021/06/08 12:30 (CET) 2021/06/08 10:30 (CET)
SOFFEX CONF 202109 SWISS BONDS No 2 hours prior to cutoff 2021/09/08 12:30 (CET) 2021/09/08 10:30 (CET) 2021/09/08 12:30 (CET) 2021/09/08 10:30 (CET)
SOFFEX CONF 202112 SWISS BONDS No 2 hours prior to cutoff 2021/12/08 12:30 (CET) 2021/12/08 10:30 (CET) 2021/12/08 12:30 (CET) 2021/12/08 10:30 (CET)
Disclosures
  1. Physical Delivery rules for this contract are applicable to Cash/IRA accounts only.
  2. Open positions held after the close of the trading day indicated in this field become subject to liquidation.
  3. First Position Date and Time; cutoff applicable to long positions.
  4. Last Trading Date and Time; cutoff applicable to short positions.
  5. The times listed in "Long Futures Liquidation" and "Short Futures Liquidation" columns are shown in local exchange time.