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 |
|---|---|---|---|---|---|---|---|---|---|
| CME | SEK | 202306 | SWEDISH KRONA | No | 5 business days prior to cutoff | 2023/06/16 09:16 | 2023/06/12 8:30 | 2023/06/16 09:16 | 2023/06/12 8:30 |
| CME | SEK | 202309 | SWEDISH KRONA | No | 5 business days prior to cutoff | 2023/09/18 09:16 | 2023/09/12 8:30 | 2023/09/18 09:16 | 2023/09/12 8:30 |
| CME | SEK | 202312 | SWEDISH KRONA | No | 5 business days prior to cutoff | 2023/12/18 09:16 | 2023/12/12 8:30 | 2023/12/18 09:16 | 2023/12/12 8:30 |
| CME | SEK | 202403 | SWEDISH KRONA | No | 5 business days prior to cutoff | 2024/03/18 09:16 | 2024/03/12 8:30 | 2024/03/18 09:16 | 2024/03/12 8:30 |
| CME | SJY | 202306 | SF/JY cross rate | Yes(1) | 2 business days prior to cutoff | 2023/06/16 09:16 | 2023/06/15 7:20 | 2023/06/16 09:16 | 2023/06/15 7:20 |
| CME | SJY | 202309 | SF/JY cross rate | Yes(1) | 2 business days prior to cutoff | 2023/09/18 09:16 | 2023/09/15 7:20 | 2023/09/18 09:16 | 2023/09/15 7:20 |
| CME | SJY | 202312 | SF/JY cross rate | Yes(1) | 2 business days prior to cutoff | 2023/12/18 09:16 | 2023/12/15 7:20 | 2023/12/18 09:16 | 2023/12/15 7:20 |
| CME | SJY | 202403 | SF/JY cross rate | Yes(1) | 2 business days prior to cutoff | 2024/03/18 09:16 | 2024/03/15 7:20 | 2024/03/18 09:16 | 2024/03/15 7:20 |
| COMEX | ALI | 202305 | Aluminum | No | 17 business days prior to cutoff | 2023/04/27 14:30 | 2023/04/05 08:30 | 2023/04/27 14:30 | 2023/04/05 08:30 |
| COMEX | ALI | 202311 | Aluminum | No | 17 business days prior to cutoff | 2023/10/30 14:30 | 2023/10/06 08:30 | 2023/10/30 14:30 | 2023/10/06 08:30 |
| COMEX | ALI | 202306 | Aluminum | No | 17 business days prior to cutoff | 2023/05/30 14:30 | 2023/05/08 08:30 | 2023/05/30 14:30 | 2023/05/08 08:30 |
| COMEX | ALI | 202309 | Aluminum | No | 17 business days prior to cutoff | 2023/08/30 14:30 | 2023/08/08 08:30 | 2023/08/30 14:30 | 2023/08/08 08:30 |
| COMEX | ALI | 202304 | Aluminum | No | 17 business days prior to cutoff | 2023/03/30 14:30 | 2023/03/08 08:30 | 2023/03/30 14:30 | 2023/03/08 08:30 |
| COMEX | ALI | 202303 | Aluminum | No | 17 business days prior to cutoff | 2023/02/27 14:30 | 2023/02/03 08:30 | 2023/02/27 14:30 | 2023/02/03 08:30 |
| COMEX | ALI | 202402 | Aluminum | No | 17 business days prior to cutoff | 2024/01/30 14:30 | 2024/01/08 08:30 | 2024/01/30 14:30 | 2024/01/08 08:30 |
| COMEX | ALI | 202312 | Aluminum | No | 17 business days prior to cutoff | 2023/11/29 14:30 | 2023/11/07 08:30 | 2023/11/29 14:30 | 2023/11/07 08:30 |
| COMEX | ALI | 202401 | Aluminum | No | 17 business days prior to cutoff | 2023/12/28 14:30 | 2023/12/06 08:30 | 2023/12/28 14:30 | 2023/12/06 08:30 |
| COMEX | ALI | 202310 | Aluminum | No | 17 business days prior to cutoff | 2023/09/28 14:30 | 2023/09/06 08:30 | 2023/09/28 14:30 | 2023/09/06 08:30 |
| COMEX | ALI | 202308 | Aluminum | No | 17 business days prior to cutoff | 2023/07/28 14:30 | 2023/07/06 08:30 | 2023/07/28 14:30 | 2023/07/06 08:30 |
| COMEX | ALI | 202307 | Aluminum | No | 17 business days prior to cutoff | 2023/06/29 14:30 | 2023/06/07 08:30 | 2023/06/29 14:30 | 2023/06/07 08:30 |
| COMEX | GC | 202306 | Gold | No | 2 business days prior to cutoff | 2023/05/30 16:00 | 2023/05/29 8:20 | 2023/06/28 13:30 | 2023/06/27 8:20 |
| COMEX | GC | 202312 | Gold | No | 2 business days prior to cutoff | 2023/11/29 16:00 | 2023/11/28 8:20 | 2023/12/27 13:30 | 2023/12/26 8:20 |
| COMEX | GC | 202304 | Gold | No | 2 business days prior to cutoff | 2023/03/30 16:00 | 2023/03/29 8:20 | 2023/04/26 13:30 | 2023/04/25 8:20 |
| COMEX | GC | 202308 | Gold | No | 2 business days prior to cutoff | 2023/07/28 16:00 | 2023/07/27 8:20 | 2023/08/29 13:30 | 2023/08/28 8:20 |
| COMEX | GC | 202310 | Gold | No | 2 business days prior to cutoff | 2023/09/28 16:00 | 2023/09/27 8:20 | 2023/10/27 13:30 | 2023/10/26 8:20 |
| COMEX | GC | 202402 | Gold | No | 2 business days prior to cutoff | 2024/01/30 16:00 | 2024/01/29 8:20 | 2024/02/27 13:30 | 2024/02/26 8:20 |
| COMEX | GC | 202303 | Gold | No | 2 business days prior to cutoff | 2023/02/27 16:00 | 2023/02/24 8:20 | 2023/03/29 16:00 | 2023/03/28 8:20 |
| COMEX | GC | 202305 | Gold | No | 2 business days prior to cutoff | 2023/04/27 16:00 | 2023/04/26 8:20 | 2023/05/26 16:00 | 2023/05/25 8:20 |
| COMEX | HG | 202303 | Copper | No | 2 business days prior to cutoff | 2023/02/27 16:00 | 2023/02/24 8:10 | 2023/03/29 13:00 | 2023/03/28 8:10 |
| COMEX | HG | 202305 | Copper | No | 2 business days prior to cutoff | 2023/04/27 16:00 | 2023/04/26 8:10 | 2023/05/26 13:00 | 2023/05/25 8:10 |
| COMEX | HG | 202307 | Copper | No | 2 business days prior to cutoff | 2023/06/29 16:00 | 2023/06/28 8:10 | 2023/07/27 13:00 | 2023/07/26 8:10 |
| COMEX | HG | 202309 | Copper | No | 2 business days prior to cutoff | 2023/08/30 16:00 | 2023/08/29 8:10 | 2023/09/27 13:00 | 2023/09/26 8:10 |
| COMEX | HG | 202312 | Copper | No | 2 business days prior to cutoff | 2023/11/29 16:00 | 2023/11/28 8:10 | 2023/12/27 13:00 | 2023/12/26 8:10 |
| COMEX | HG | 202304 | Copper | No | 2 business days prior to cutoff | 2023/03/30 16:00 | 2023/03/29 8:10 | 2023/04/26 13:00 | 2023/04/25 8:10 |
| COMEX | HG | 202306 | Copper | No | 2 business days prior to cutoff | 2023/05/30 16:00 | 2023/05/29 8:10 | 2023/06/28 13:00 | 2023/06/27 8:10 |
| COMEX | HG | 202308 | Copper | No | 2 business days prior to cutoff | 2023/07/28 16:00 | 2023/07/27 8:10 | 2023/08/29 13:00 | 2023/08/28 8:10 |
| COMEX | HG | 202310 | Copper | No | 2 business days prior to cutoff | 2023/09/28 16:00 | 2023/09/27 8:10 | 2023/10/27 13:00 | 2023/10/26 8:10 |
| COMEX | HG | 202311 | Copper | No | 2 business days prior to cutoff | 2023/10/30 16:00 | 2023/10/27 8:10 | 2023/11/28 13:00 | 2023/11/27 8:10 |
| COMEX | HG | 202401 | Copper | No | 2 business days prior to cutoff | 2023/12/28 16:00 | 2023/12/27 8:10 | 2024/01/29 13:00 | 2024/01/26 8:10 |
| COMEX | HG | 202402 | Copper | No | 2 business days prior to cutoff | 2024/01/30 16:00 | 2024/01/29 8:10 | 2024/02/27 13:00 | 2024/02/26 8:10 |
| COMEX | MGC | 202304 | E-Micro Gold | No | 2 business days prior to cutoff | 2023/03/30 16:00 | 2023/03/29 8:30 | 2023/03/30 16:00 | 2023/03/29 8:30 |
| COMEX | MGC | 202306 | E-Micro Gold | No | 2 business days prior to cutoff | 2023/05/30 16:00 | 2023/05/29 8:30 | 2023/05/30 16:00 | 2023/05/29 8:30 |
| COMEX | MGC | 202308 | E-Micro Gold | No | 2 business days prior to cutoff | 2023/07/28 16:00 | 2023/07/27 8:30 | 2023/07/28 16:00 | 2023/07/27 8:30 |
| COMEX | MGC | 202310 | E-Micro Gold | No | 2 business days prior to cutoff | 2023/09/28 16:00 | 2023/09/27 8:30 | 2023/09/28 16:00 | 2023/09/27 8:30 |
| COMEX | MGC | 202312 | E-Micro Gold | No | 2 business days prior to cutoff | 2023/11/29 16:00 | 2023/11/28 8:30 | 2023/11/29 16:00 | 2023/11/28 8:30 |
| COMEX | MGC | 202402 | E-Micro Gold | No | 2 business days prior to cutoff | 2024/01/30 16:00 | 2024/01/29 8:30 | 2024/01/30 16:00 | 2024/01/29 8:30 |
| COMEX | SI | 202307 | Silver | No | 2 business days prior to cutoff | 2023/06/29 16:00 | 2023/06/28 8:25 | 2023/07/27 13:25 | 2023/07/26 8:25 |
| COMEX | SI | 202312 | Silver | No | 2 business days prior to cutoff | 2023/11/29 16:00 | 2023/11/28 8:25 | 2023/12/27 13:25 | 2023/12/26 8:25 |
| COMEX | SI | 202303 | Silver | No | 2 business days prior to cutoff | 2023/02/27 16:00 | 2023/02/24 8:25 | 2023/03/29 13:25 | 2023/03/28 8:25 |
| COMEX | SI | 202305 | Silver | No | 2 business days prior to cutoff | 2023/04/27 16:00 | 2023/04/26 8:25 | 2023/05/26 13:25 | 2023/05/25 8:25 |
| COMEX | SI | 202309 | Silver | No | 2 business days prior to cutoff | 2023/08/30 16:00 | 2023/08/29 8:25 | 2023/09/27 13:25 | 2023/09/26 8:25 |
| COMEX | SI | 202401 | Silver | No | 2 business days prior to cutoff | 2023/12/28 16:00 | 2023/12/27 8:25 | 2024/01/29 13:25 | 2024/01/26 8:25 |
| COMEX | SI | 202304 | Silver | No | 2 business days prior to cutoff | 2023/03/30 16:00 | 2023/03/29 8:25 | 2023/04/26 16:00 | 2023/04/25 8:25 |
| COMEX | SIL | 202303 | Silver | No | 2 business days prior to cutoff | 2023/02/27 16:00 | 2023/02/24 8:25 | 2023/03/29 13:25 | 2023/03/28 8:25 |
| COMEX | SIL | 202305 | Silver | No | 2 business days prior to cutoff | 2023/04/27 16:00 | 2023/04/26 8:25 | 2023/05/26 13:25 | 2023/05/25 8:25 |
| COMEX | SIL | 202307 | Silver | No | 2 business days prior to cutoff | 2023/06/29 16:00 | 2023/06/28 8:25 | 2023/07/27 13:25 | 2023/07/26 8:25 |
| COMEX | SIL | 202309 | Silver | No | 2 business days prior to cutoff | 2023/08/30 16:00 | 2023/08/29 8:25 | 2023/09/27 13:25 | 2023/09/26 8:25 |
| COMEX | SIL | 202312 | Silver | No | 2 business days prior to cutoff | 2023/11/29 16:00 | 2023/11/28 8:25 | 2023/12/27 13:25 | 2023/12/26 8:25 |
| COMEX | SIL | 202401 | Silver | No | 2 business days prior to cutoff | 2023/12/28 16:00 | 2023/12/27 8:25 | 2024/01/29 13:25 | 2024/01/26 8:25 |
| COMEX | SIL | 202304 | Silver | No | 2 business days prior to cutoff | 2023/03/30 16:00 | 2023/03/29 8:25 | 2023/04/26 13:25 | 2023/04/25 8:25 |
| ENDEX | ECF | 202312 | ICE ECX EUA | No | 2 business days prior to cutoff | 2023/12/18 16:30 | 2023/12/15 7:00 | 2023/12/18 16:30 | 2023/12/15 7:00 |
| ENDEX | ECF | 202303 | ICE ECX EUA | No | 2 business days prior to cutoff | 2023/03/27 16:30 | 2023/03/24 7:00 | 2023/03/27 16:30 | 2023/03/24 7:00 |
| ENDEX | ECF | 202306 | ICE ECX EUA | No | 2 business days prior to cutoff | 2023/06/26 16:30 | 2023/06/23 7:00 | 2023/06/26 16:30 | 2023/06/23 7:00 |
| ENDEX | ECF | 202309 | ICE ECX EUA | No | 2 business days prior to cutoff | 2023/09/25 16:30 | 2023/09/22 7:00 | 2023/09/25 16:30 | 2023/09/22 7:00 |
| ENDEX | ECF | 202403 | ICE ECX EUA | No | 2 business days prior to cutoff | 2024/03/18 16:30 | 2024/03/15 7:00 | 2024/03/18 16:30 | 2024/03/15 7:00 |
| ENDEX | ECF | 202304 | ICE ECX EUA | No | 2 business days prior to cutoff | 2023/04/24 16:30 | 2023/04/21 7:00 | 2023/04/24 16:30 | 2023/04/21 7:00 |
| ENDEX | ECF | 202305 | ICE ECX EUA | No | 2 business days prior to cutoff | 2023/05/22 16:30 | 2023/05/19 7:00 | 2023/05/22 16:30 | 2023/05/19 7:00 |
| EUREX | CONF | 202306 | SWISS BONDS | No | 2 hours prior to cutoff | 2023/06/08 12:30 | 2023/06/08 10:30 | 2023/06/08 12:30 | 2023/06/08 10:30 |
| EUREX | CONF | 202309 | SWISS BONDS | No | 2 hours prior to cutoff | 2023/09/07 12:30 | 2023/09/07 10:30 | 2023/09/07 12:30 | 2023/09/07 10:30 |
| EUREX | CONF | 202312 | SWISS BONDS | No | 2 hours prior to cutoff | 2023/12/07 12:30 | 2023/12/07 10:30 | 2023/12/07 12:30 | 2023/12/07 10:30 |
| EUREX | FBON | 202306 | BONO Futures on long-term Spanish government bonds | No | 7 business days prior to cutoff | 2023/06/08 12:30 | 2023/05/31 8:00 | 2023/06/08 12:30 | 2023/05/31 8:00 |
| EUREX | FBON | 202309 | BONO Futures on long-term Spanish government bonds | No | 7 business days prior to cutoff | 2023/09/07 12:30 | 2023/08/30 8:00 | 2023/09/07 12:30 | 2023/08/30 8:00 |
| EUREX | FBON | 202312 | BONO Futures on long-term Spanish government bonds | No | 7 business days prior to cutoff | 2023/12/07 12:30 | 2023/11/29 8:00 | 2023/12/07 12:30 | 2023/11/29 8:00 |
| EUREX | FBTP | 202306 | Euro-BTP Italian Government Bond | No | 2 business days prior to cutoff | 2023/06/08 12:30 | 2023/06/07 7:50 | 2023/06/08 12:30 | 2023/06/07 7:50 |
| EUREX | FBTP | 202309 | Euro-BTP Italian Government Bond | No | 2 business days prior to cutoff | 2023/09/07 12:30 | 2023/09/06 7:50 | 2023/09/07 12:30 | 2023/09/06 7:50 |
| EUREX | FBTP | 202312 | Euro-BTP Italian Government Bond | No | 2 business days prior to cutoff | 2023/12/07 12:30 | 2023/12/06 7:50 | 2023/12/07 12:30 | 2023/12/06 7:50 |
| EUREX | FBTS | 202306 | Short-Term Euro-BTP Italian Bond | No | 2 business days prior to cutoff | 2023/06/08 12:30 | 2023/06/07 7:50 | 2023/06/08 12:30 | 2023/06/07 7:50 |
| EUREX | FBTS | 202309 | Short-Term Euro-BTP Italian Bond | No | 2 business days prior to cutoff | 2023/09/07 12:30 | 2023/09/06 7:50 | 2023/09/07 12:30 | 2023/09/06 7:50 |
| EUREX | FBTS | 202312 | Short-Term Euro-BTP Italian Bond | No | 2 business days prior to cutoff | 2023/12/07 12:30 | 2023/12/06 7:50 | 2023/12/07 12:30 | 2023/12/06 7:50 |
| EUREX | FGBL | 202306 | Euro BUND | No | 2 hours prior to cutoff | 2023/06/08 12:30 | 2023/06/08 10:30 | 2023/06/08 12:30 | 2023/06/08 10:30 |
| EUREX | FGBL | 202309 | Euro BUND | No | 2 hours prior to cutoff | 2023/09/07 12:30 | 2023/09/07 10:30 | 2023/09/07 12:30 | 2023/09/07 10:30 |
| EUREX | FGBL | 202312 | Euro BUND | No | 2 hours prior to cutoff | 2023/12/07 12:30 | 2023/12/07 10:30 | 2023/12/07 12:30 | 2023/12/07 10:30 |
| EUREX | FGBM | 202306 | Euro BOBL | No | 2 hours prior to cutoff | 2023/06/08 12:30 | 2023/06/08 10:30 | 2023/06/08 12:30 | 2023/06/08 10:30 |
| EUREX | FGBM | 202309 | Euro BOBL | No | 2 hours prior to cutoff | 2023/09/07 12:30 | 2023/09/07 10:30 | 2023/09/07 12:30 | 2023/09/07 10:30 |
| EUREX | FGBM | 202312 | Euro BOBL | No | 2 hours prior to cutoff | 2023/12/07 12:30 | 2023/12/07 10:30 | 2023/12/07 12:30 | 2023/12/07 10:30 |
| EUREX | FGBS | 202306 | Euro SCHATZ | No | 2 hours prior to cutoff | 2023/06/08 12:30 | 2023/06/08 10:30 | 2023/06/08 12:30 | 2023/06/08 10:30 |
| EUREX | FGBS | 202309 | Euro SCHATZ | No | 2 hours prior to cutoff | 2023/09/07 12:30 | 2023/09/07 10:30 | 2023/09/07 12:30 | 2023/09/07 10:30 |
| EUREX | FGBS | 202312 | Euro SCHATZ | No | 2 hours prior to cutoff | 2023/12/07 12:30 | 2023/12/07 10:30 | 2023/12/07 12:30 | 2023/12/07 10:30 |
| EUREX | FGBX | 202306 | Euro BUXL | No | 2 business days prior to cutoff | 2023/06/08 12:30 | 2023/06/07 7:50 | 2023/06/08 12:30 | 2023/06/07 7:50 |
| EUREX | FGBX | 202309 | Euro BUXL | No | 2 business days prior to cutoff | 2023/09/07 12:30 | 2023/09/06 7:50 | 2023/09/07 12:30 | 2023/09/06 7:50 |
| EUREX | FGBX | 202312 | Euro BUXL | No | 2 business days prior to cutoff | 2023/12/07 12:30 | 2023/12/06 7:50 | 2023/12/07 12:30 | 2023/12/06 7:50 |
| EUREX | FOAT | 202306 | Euro-OAT French Government Bond Index | No | 2 business days prior to cutoff | 2023/06/08 12:30 | 2023/06/07 7:50 | 2023/06/08 12:30 | 2023/06/07 7:50 |
| EUREX | FOAT | 202309 | Euro-OAT French Government Bond Index | No | 2 business days prior to cutoff | 2023/09/07 12:30 | 2023/09/06 7:50 | 2023/09/07 12:30 | 2023/09/06 7:50 |
| EUREX | FOAT | 202312 | Euro-OAT French Government Bond Index | No | 2 business days prior to cutoff | 2023/12/07 12:30 | 2023/12/06 7:50 | 2023/12/07 12:30 | 2023/12/06 7:50 |
| HKFE | CUS | 202306 | CNH FX | Yes(1) | 2 business days prior to cutoff | 2023/06/19 11:00 | 2023/06/16 09:00 | 2023/06/19 11:00 | 2023/06/16 09:00 |
| HKFE | CUS | 202309 | CNH FX | Yes(1) | 2 business days prior to cutoff | 2023/09/18 11:00 | 2023/09/15 09:00 | 2023/09/18 11:00 | 2023/09/15 09:00 |
| HKFE | CUS | 202312 | CNH FX | Yes(1) | 2 business days prior to cutoff | 2023/12/18 11:00 | 2023/12/15 09:00 | 2023/12/18 11:00 | 2023/12/15 09:00 |
| HKFE | CUS | 202403 | CNH FX | Yes(1) | 2 business days prior to cutoff | 2024/03/18 11:00 | 2024/03/15 09:00 | 2024/03/18 11:00 | 2024/03/15 09:00 |
| HKFE | CUS | 202304 | CNH FX | Yes(1) | 2 business days prior to cutoff | 2023/04/17 11:00 | 2023/04/14 09:00 | 2023/04/17 11:00 | 2023/04/14 09:00 |
| HKFE | CUS | 202305 | CNH FX | Yes(1) | 2 business days prior to cutoff | 2023/05/15 11:00 | 2023/05/12 09:00 | 2023/05/15 11:00 | 2023/05/12 09:00 |