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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
GLOBEX NOK 202206 NORV KRONA No 5 business days prior to cutoff 2022/06/13 09:16 (CT) 2022/06/07 8:30 (CT) 2022/06/13 09:16 (CT) 2022/06/07 8:30 (CT)
GLOBEX NOK 202209 NORV KRONA No 5 business days prior to cutoff 2022/09/19 09:16 (CT) 2022/09/13 8:30 (CT) 2022/09/19 09:16 (CT) 2022/09/13 8:30 (CT)
GLOBEX PJY 202112 BP/JY cross rate Yes(1) 2 business days prior to cutoff 2021/12/13 09:16 (CT) 2021/12/10 8:30 (CT) 2021/12/13 09:16 (CT) 2021/12/10 8:30 (CT)
GLOBEX PJY 202203 BP/JY cross rate Yes(1) 2 business days prior to cutoff 2022/03/14 09:16 (CT) 2022/03/11 8:30 (CT) 2022/03/14 09:16 (CT) 2022/03/11 8:30 (CT)
GLOBEX PJY 202206 BP/JY cross rate Yes(1) 2 business days prior to cutoff 2022/06/13 09:16 (CT) 2022/06/10 8:30 (CT) 2022/06/13 09:16 (CT) 2022/06/10 8:30 (CT)
GLOBEX PJY 202209 BP/JY cross rate Yes(1) 2 business days prior to cutoff 2022/09/19 09:16 (CT) 2022/09/16 8:30 (CT) 2022/09/19 09:16 (CT) 2022/09/16 8:30 (CT)
GLOBEX PLN 202112 POLISH ZLOTY No 5 business days prior to cutoff 2021/12/13 09:16 (CT) 2021/12/07 8:30 (CT) 2021/12/13 09:16 (CT) 2021/12/07 8:30 (CT)
GLOBEX PLN 202203 POLISH ZLOTY No 5 business days prior to cutoff 2022/03/14 09:16 (CT) 2022/03/08 8:30 (CT) 2022/03/14 09:16 (CT) 2022/03/08 8:30 (CT)
GLOBEX PLN 202206 POLISH ZLOTY No 5 business days prior to cutoff 2022/06/13 09:16 (CT) 2022/06/07 8:30 (CT) 2022/06/13 09:16 (CT) 2022/06/07 8:30 (CT)
GLOBEX PLN 202209 POLISH ZLOTY No 5 business days prior to cutoff 2022/09/19 09:16 (CT) 2022/09/13 8:30 (CT) 2022/09/19 09:16 (CT) 2022/09/13 8:30 (CT)
GLOBEX PSF 202112 BP/SF cross rate Yes(1) 2 business days prior to cutoff 2021/12/13 09:16 (CT) 2021/12/10 7:20 (CT) 2021/12/13 09:16 (CT) 2021/12/10 7:20 (CT)
GLOBEX PSF 202203 BP/SF cross rate Yes(1) 2 business days prior to cutoff 2022/03/14 09:16 (CT) 2022/03/11 7:20 (CT) 2022/03/14 09:16 (CT) 2022/03/11 7:20 (CT)
GLOBEX PSF 202206 BP/SF cross rate Yes(1) 2 business days prior to cutoff 2022/06/13 09:16 (CT) 2022/06/10 7:20 (CT) 2022/06/13 09:16 (CT) 2022/06/10 7:20 (CT)
GLOBEX PSF 202209 BP/SF cross rate Yes(1) 2 business days prior to cutoff 2022/09/19 09:16 (CT) 2022/09/16 7:20 (CT) 2022/09/19 09:16 (CT) 2022/09/16 7:20 (CT)
GLOBEX RF 202112 Euro FX/SF cross rate Yes(1) 2 business days prior to cutoff 2021/12/13 09:16 (CT) 2021/12/10 7:20 (CT) 2021/12/13 09:16 (CT) 2021/12/10 7:20 (CT)
GLOBEX RF 202203 Euro FX/SF cross rate Yes(1) 2 business days prior to cutoff 2022/03/14 09:16 (CT) 2022/03/11 7:20 (CT) 2022/03/14 09:16 (CT) 2022/03/11 7:20 (CT)
GLOBEX RF 202206 Euro FX/SF cross rate Yes(1) 2 business days prior to cutoff 2022/06/13 09:16 (CT) 2022/06/10 7:20 (CT) 2022/06/13 09:16 (CT) 2022/06/10 7:20 (CT)
GLOBEX RF 202209 Euro FX/SF cross rate Yes(1) 2 business days prior to cutoff 2022/09/19 09:16 (CT) 2022/09/16 7:20 (CT) 2022/09/19 09:16 (CT) 2022/09/16 7:20 (CT)
GLOBEX RP 202112 Euro FX/BP cross rate Yes(1) 2 business days prior to cutoff 2021/12/13 09:16 (CT) 2021/12/10 7:20 (CT) 2021/12/13 09:16 (CT) 2021/12/10 7:20 (CT)
GLOBEX RP 202203 Euro FX/BP cross rate Yes(1) 2 business days prior to cutoff 2022/03/14 09:16 (CT) 2022/03/11 7:20 (CT) 2022/03/14 09:16 (CT) 2022/03/11 7:20 (CT)
GLOBEX RP 202206 Euro FX/BP cross rate Yes(1) 2 business days prior to cutoff 2022/06/13 09:16 (CT) 2022/06/10 7:20 (CT) 2022/06/13 09:16 (CT) 2022/06/10 7:20 (CT)
GLOBEX RP 202209 Euro FX/BP cross rate Yes(1) 2 business days prior to cutoff 2022/09/19 09:16 (CT) 2022/09/16 7:20 (CT) 2022/09/19 09:16 (CT) 2022/09/16 7:20 (CT)
GLOBEX RP 202201 Euro FX/BP cross rate Yes(1) 2 business days prior to cutoff 2022/01/14 09:16 (CT) 2022/01/13 7:20 (CT) 2022/01/14 09:16 (CT) 2022/01/13 7:20 (CT)
GLOBEX RP 202202 Euro FX/BP cross rate Yes(1) 2 business days prior to cutoff 2022/02/14 09:16 (CT) 2022/02/11 7:20 (CT) 2022/02/14 09:16 (CT) 2022/02/11 7:20 (CT)
GLOBEX RP 202204 Euro FX/BP cross rate Yes(1) 2 business days prior to cutoff 2022/04/18 09:16 (CT) 2022/04/15 7:20 (CT) 2022/04/18 09:16 (CT) 2022/04/15 7:20 (CT)
GLOBEX RY 202112 Euro FX/JY cross rate Yes(1) 2 business days prior to cutoff 2021/12/13 09:16 (CT) 2021/12/10 7:20 (CT) 2021/12/13 09:16 (CT) 2021/12/10 7:20 (CT)
GLOBEX RY 202203 Euro FX/JY cross rate Yes(1) 2 business days prior to cutoff 2022/03/14 09:16 (CT) 2022/03/11 7:20 (CT) 2022/03/14 09:16 (CT) 2022/03/11 7:20 (CT)
GLOBEX RY 202206 Euro FX/JY cross rate Yes(1) 2 business days prior to cutoff 2022/06/13 09:16 (CT) 2022/06/10 7:20 (CT) 2022/06/13 09:16 (CT) 2022/06/10 7:20 (CT)
GLOBEX RY 202209 Euro FX/JY cross rate Yes(1) 2 business days prior to cutoff 2022/09/19 09:16 (CT) 2022/09/16 7:20 (CT) 2022/09/19 09:16 (CT) 2022/09/16 7:20 (CT)
GLOBEX SEK 202112 SWEDISH KRONA No 5 business days prior to cutoff 2021/12/13 09:16 (CT) 2021/12/07 8:30 (CT) 2021/12/13 09:16 (CT) 2021/12/07 8:30 (CT)
GLOBEX SEK 202203 SWEDISH KRONA No 5 business days prior to cutoff 2022/03/14 09:16 (CT) 2022/03/08 8:30 (CT) 2022/03/14 09:16 (CT) 2022/03/08 8:30 (CT)
GLOBEX SEK 202206 SWEDISH KRONA No 5 business days prior to cutoff 2022/06/13 09:16 (CT) 2022/06/07 8:30 (CT) 2022/06/13 09:16 (CT) 2022/06/07 8:30 (CT)
GLOBEX SEK 202209 SWEDISH KRONA No 5 business days prior to cutoff 2022/09/19 09:16 (CT) 2022/09/13 8:30 (CT) 2022/09/19 09:16 (CT) 2022/09/13 8:30 (CT)
GLOBEX SJY 202112 SF/JY cross rate Yes(1) 2 business days prior to cutoff 2021/12/13 09:16 (CT) 2021/12/10 7:20 (CT) 2021/12/13 09:16 (CT) 2021/12/10 7:20 (CT)
GLOBEX SJY 202203 SF/JY cross rate Yes(1) 2 business days prior to cutoff 2022/03/14 09:16 (CT) 2022/03/11 7:20 (CT) 2022/03/14 09:16 (CT) 2022/03/11 7:20 (CT)
GLOBEX SJY 202206 SF/JY cross rate Yes(1) 2 business days prior to cutoff 2022/06/13 09:16 (CT) 2022/06/10 7:20 (CT) 2022/06/13 09:16 (CT) 2022/06/10 7:20 (CT)
GLOBEX SJY 202209 SF/JY cross rate Yes(1) 2 business days prior to cutoff 2022/09/19 09:16 (CT) 2022/09/16 7:20 (CT) 2022/09/19 09:16 (CT) 2022/09/16 7:20 (CT)
HKFE CUS 202112 CNH FX Yes(1) 2 business days prior to cutoff 2021/12/13 11:00 2021/12/10 09:00 2021/12/13 11:00 2021/12/10 09:00
HKFE CUS 202203 CNH FX Yes(1) 2 business days prior to cutoff 2022/03/14 11:00 2022/03/11 09:00 2022/03/14 11:00 2022/03/11 09:00
HKFE CUS 202206 CNH FX Yes(1) 2 business days prior to cutoff 2022/06/13 11:00 2022/06/10 09:00 2022/06/13 11:00 2022/06/10 09:00
HKFE CUS 202209 CNH FX Yes(1) 2 business days prior to cutoff 2022/09/19 11:00 2022/09/16 09:00 2022/09/19 11:00 2022/09/16 09:00
HKFE CUS 202201 CNH FX Yes(1) 2 business days prior to cutoff 2022/01/17 11:00 2022/01/14 09:00 2022/01/17 11:00 2022/01/14 09:00
HKFE CUS 202202 CNH FX Yes(1) 2 business days prior to cutoff 2022/02/14 11:00 2022/02/11 09:00 2022/02/14 11:00 2022/02/11 09:00
HKFE GDR 202112 Gold No 3 business days prior to cutoff 2021/12/14 16:30 2021/12/10 8:30 2021/12/20 16:30 2021/12/16 8:30
HKFE GDR 202201 Gold No 3 business days prior to cutoff 2022/01/11 16:30 2022/01/07 8:30 2022/01/17 16:30 2022/01/13 8:30
HKFE GDR 202202 Gold No 3 business days prior to cutoff 2022/02/15 16:30 2022/02/11 8:30 2022/02/21 16:30 2022/02/17 8:30
HKFE GDR 202203 Gold No 3 business days prior to cutoff 2022/03/15 16:30 2022/03/11 8:30 2022/03/21 16:30 2022/03/17 8:30
HKFE GDR 202204 Gold No 3 business days prior to cutoff 2022/04/11 16:30 2022/04/07 8:30 2022/04/19 16:30 2022/04/15 8:30
HKFE GDR 202205 Gold No 3 business days prior to cutoff 2022/05/10 16:30 2022/05/06 8:30 2022/05/16 16:30 2022/05/12 8:30
HKFE GDR 202206 Gold No 3 business days prior to cutoff 2022/06/14 16:30 2022/06/10 8:30 2022/06/20 16:30 2022/06/16 8:30
HKFE GDR 202207 Gold No 3 business days prior to cutoff 2022/07/12 16:30 2022/07/08 8:30 2022/07/18 16:30 2022/07/14 8:30
HKFE GDR 202208 Gold No 3 business days prior to cutoff 2022/08/09 16:30 2022/08/05 8:30 2022/08/15 16:30 2022/08/11 8:30
HKFE GDR 202209 Gold No 3 business days prior to cutoff 2022/09/13 16:30 2022/09/09 8:30 2022/09/19 16:30 2022/09/15 8:30
HKFE GDR 202210 Gold No 3 business days prior to cutoff 2022/10/11 16:30 2022/10/07 8:30 2022/10/17 16:30 2022/10/13 8:30
HKFE GDR 202211 Gold No 3 business days prior to cutoff 2022/11/15 16:30 2022/11/11 8:30 2022/11/21 16:30 2022/11/17 8:30
HKFE GDU 202112 Gold No 3 business days prior to cutoff 2021/12/14 16:30 2021/12/10 8:30 2021/12/14 16:30 2021/12/10 8:30
HKFE GDU 202201 Gold No 3 business days prior to cutoff 2022/01/11 16:30 2022/01/07 8:30 2022/01/11 16:30 2022/01/07 8:30
HKFE GDU 202202 Gold No 3 business days prior to cutoff 2022/02/15 16:30 2022/02/11 8:30 2022/02/15 16:30 2022/02/11 8:30
HKFE GDU 202203 Gold No 3 business days prior to cutoff 2022/03/15 16:30 2022/03/11 8:30 2022/03/15 16:30 2022/03/11 8:30
HKFE GDU 202204 Gold No 3 business days prior to cutoff 2022/04/11 16:30 2022/04/07 8:30 2022/04/11 16:30 2022/04/07 8:30
HKFE GDU 202205 Gold No 3 business days prior to cutoff 2022/05/10 16:30 2022/05/06 8:30 2022/05/10 16:30 2022/05/06 8:30
HKFE GDU 202206 Gold No 3 business days prior to cutoff 2022/06/14 16:30 2022/06/10 8:30 2022/06/14 16:30 2022/06/10 8:30
HKFE GDU 202207 Gold No 3 business days prior to cutoff 2022/07/12 16:30 2022/07/08 8:30 2022/07/12 16:30 2022/07/08 8:30
HKFE GDU 202208 Gold No 3 business days prior to cutoff 2022/08/09 16:30 2022/08/05 8:30 2022/08/09 16:30 2022/08/05 8:30
HKFE GDU 202209 Gold No 3 business days prior to cutoff 2022/09/13 16:30 2022/09/09 8:30 2022/09/13 16:30 2022/09/09 8:30
HKFE GDU 202210 Gold No 3 business days prior to cutoff 2022/10/11 16:30 2022/10/07 8:30 2022/10/11 16:30 2022/10/07 8:30
HKFE GDU 202211 Gold No 3 business days prior to cutoff 2022/11/15 16:30 2022/11/11 8:30 2022/11/15 16:30 2022/11/11 8:30
ICECRYPTO BTM 202112 Bakkt Bitcoin No 3 business days prior to cutoff 2021/12/15 16:00 2021/12/13 9:30 2021/12/16 14:30 2021/12/14 9:30
ICECRYPTO BTM 202201 Bakkt Bitcoin No 3 business days prior to cutoff 2022/01/19 16:00 2022/01/17 9:30 2022/01/20 14:30 2022/01/18 9:30
ICECRYPTO BTM 202202 Bakkt Bitcoin No 3 business days prior to cutoff 2022/02/16 16:00 2022/02/14 9:30 2022/02/17 14:30 2022/02/15 9:30
ICECRYPTO BTM 202203 Bakkt Bitcoin No 3 business days prior to cutoff 2022/03/16 16:00 2022/03/14 9:30 2022/03/17 14:30 2022/03/15 9:30
ICECRYPTO BTM 202204 Bakkt Bitcoin No 3 business days prior to cutoff 2022/04/13 16:00 2022/04/11 9:30 2022/04/14 14:30 2022/04/12 9:30
ICECRYPTO BTM 202205 Bakkt Bitcoin No 3 business days prior to cutoff 2022/05/18 16:00 2022/05/16 9:30 2022/05/19 14:30 2022/05/17 9:30
ICECRYPTO BTM 202206 Bakkt Bitcoin No 3 business days prior to cutoff 2022/06/15 16:00 2022/06/13 9:30 2022/06/16 14:30 2022/06/14 9:30
ICECRYPTO BTM 202207 Bakkt Bitcoin No 3 business days prior to cutoff 2022/07/13 16:00 2022/07/11 9:30 2022/07/14 14:30 2022/07/12 9:30
ICECRYPTO BTM 202208 Bakkt Bitcoin No 3 business days prior to cutoff 2022/08/17 16:00 2022/08/15 9:30 2022/08/18 14:30 2022/08/16 9:30
ICECRYPTO BTM 202209 Bakkt Bitcoin No 3 business days prior to cutoff 2022/09/14 16:00 2022/09/12 9:30 2022/09/15 14:30 2022/09/13 9:30
ICECRYPTO BTM 202210 Bakkt Bitcoin No 3 business days prior to cutoff 2022/10/19 16:00 2022/10/17 9:30 2022/10/20 14:30 2022/10/18 9:30
ICECRYPTO BTM 202211 Bakkt Bitcoin No 3 business days prior to cutoff 2022/11/16 16:00 2022/11/14 9:30 2022/11/17 14:30 2022/11/15 9:30
ICEEU G 202112 Short Gilt No 2 business days prior to cutoff 2021/11/29 16:30 2021/11/26 8:00 2021/12/29 11:00 2021/12/24 8:00
ICEEU G 202203 Short Gilt No 2 business days prior to cutoff 2022/02/25 16:30 2022/02/24 8:00 2022/03/29 11:00 2022/03/28 8:00
ICEEU H 202112 Medium Gilt No 2 business days prior to cutoff 2021/11/29 16:30 2021/11/26 8:00 2021/12/29 11:00 2021/12/24 8:00
ICEEU H 202203 Medium Gilt No 2 business days prior to cutoff 2022/02/25 16:30 2022/02/24 8:00 2022/03/29 11:00 2022/03/28 8:00
ICEEU R 202112 Long Gilt No 2 business days prior to cutoff 2021/11/29 16:30 2021/11/26 8:00 2021/12/29 11:00 2021/12/24 8:00
ICEEU R 202203 Long Gilt No 2 business days prior to cutoff 2022/02/25 16:30 2022/02/24 8:00 2022/03/29 11:00 2022/03/28 8:00
ICEEU R 202206 Long Gilt No 2 business days prior to cutoff 2022/05/30 16:30 2022/05/27 8:00 2022/06/28 11:00 2022/06/27 8:00
ICEEUSOFT C 202112 Cocoa No 3 business days prior to cutoff 2021/12/14 12:00 2021/12/10 9:30 2021/12/14 12:00 2021/12/10 9:30
ICEEUSOFT C 202203 Cocoa No 3 business days prior to cutoff 2022/03/16 12:00 2022/03/14 9:30 2022/03/16 12:00 2022/03/14 9:30
ICEEUSOFT C 202205 Cocoa No 3 business days prior to cutoff 2022/05/13 12:00 2022/05/11 9:30 2022/05/13 12:00 2022/05/11 9:30
ICEEUSOFT C 202207 Cocoa No 3 business days prior to cutoff 2022/07/14 12:00 2022/07/12 9:30 2022/07/14 12:00 2022/07/12 9:30
ICEEUSOFT C 202209 Cocoa No 3 business days prior to cutoff 2022/09/15 12:00 2022/09/13 9:30 2022/09/15 12:00 2022/09/13 9:30
ICEEUSOFT RC 202201 Robusta coffee No 3 business days prior to cutoff 2021/12/24 17:30 2021/12/22 9:00 2022/01/25 12:30 2022/01/21 9:00
ICEEUSOFT RC 202203 Robusta coffee No 3 business days prior to cutoff 2022/02/23 17:30 2022/02/21 9:00 2022/03/25 12:30 2022/03/23 9:00
ICEEUSOFT RC 202205 Robusta coffee No 3 business days prior to cutoff 2022/04/26 17:30 2022/04/22 9:00 2022/05/25 12:30 2022/05/23 9:00
ICEEUSOFT RC 202207 Robusta coffee No 3 business days prior to cutoff 2022/06/27 17:30 2022/06/23 9:00 2022/07/25 12:30 2022/07/21 9:00
ICEEUSOFT RC 202209 Robusta coffee No 3 business days prior to cutoff 2022/08/25 17:30 2022/08/23 9:00 2022/09/26 12:30 2022/09/22 9:00
ICEEUSOFT RC 202211 Robusta coffee No 3 business days prior to cutoff 2022/10/26 17:30 2022/10/24 9:00 2022/11/24 12:30 2022/11/22 9:00
ICEEUSOFT T 202201 Wheat No 3 business days prior to cutoff 2021/12/27 16:30 2021/12/23 9:25 2022/01/21 12:30 2022/01/19 9:25
ICEEUSOFT T 202203 Wheat No 3 business days prior to cutoff 2022/02/22 16:30 2022/02/18 9:25 2022/03/23 12:30 2022/03/21 9:25
ICEEUSOFT T 202205 Wheat No 3 business days prior to cutoff 2022/04/25 16:30 2022/04/21 9:25 2022/05/23 12:30 2022/05/19 9:25
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.