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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 MCD 202212 USD/CAD Micro Yes(1) 2 business days prior to cutoff 2022/12/20 09:16 (CT) 2022/12/19 8:30 (CT) 2022/12/20 09:16 (CT) 2022/12/19 8:30 (CT)
GLOBEX MSF 202209 USD/CHF Micro 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 MSF 202212 USD/CHF Micro Yes(1) 2 business days prior to cutoff 2022/12/19 09:16 (CT) 2022/12/16 8:30 (CT) 2022/12/19 09:16 (CT) 2022/12/16 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 NOK 202212 NORV KRONA No 5 business days prior to cutoff 2022/12/19 09:16 (CT) 2022/12/13 8:30 (CT) 2022/12/19 09:16 (CT) 2022/12/13 8:30 (CT)
GLOBEX NOK 202303 NORV KRONA No 5 business days prior to cutoff 2023/03/13 09:16 (CT) 2023/03/07 8:30 (CT) 2023/03/13 09:16 (CT) 2023/03/07 8:30 (CT)
GLOBEX NOK 202306 NORV KRONA No 5 business days prior to cutoff 2023/06/16 09:16 (CT) 2023/06/12 8:30 (CT) 2023/06/16 09:16 (CT) 2023/06/12 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 PJY 202212 BP/JY cross rate Yes(1) 2 business days prior to cutoff 2022/12/19 09:16 (CT) 2022/12/16 8:30 (CT) 2022/12/19 09:16 (CT) 2022/12/16 8:30 (CT)
GLOBEX PJY 202303 BP/JY cross rate Yes(1) 2 business days prior to cutoff 2023/03/13 09:16 (CT) 2023/03/10 8:30 (CT) 2023/03/13 09:16 (CT) 2023/03/10 8:30 (CT)
GLOBEX PJY 202306 BP/JY cross rate Yes(1) 2 business days prior to cutoff 2023/06/16 09:16 (CT) 2023/06/15 8:30 (CT) 2023/06/16 09:16 (CT) 2023/06/15 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 PLN 202212 POLISH ZLOTY No 5 business days prior to cutoff 2022/12/19 09:16 (CT) 2022/12/13 8:30 (CT) 2022/12/19 09:16 (CT) 2022/12/13 8:30 (CT)
GLOBEX PLN 202303 POLISH ZLOTY No 5 business days prior to cutoff 2023/03/13 09:16 (CT) 2023/03/07 8:30 (CT) 2023/03/13 09:16 (CT) 2023/03/07 8:30 (CT)
GLOBEX PLN 202306 POLISH ZLOTY No 5 business days prior to cutoff 2023/06/16 09:16 (CT) 2023/06/12 8:30 (CT) 2023/06/16 09:16 (CT) 2023/06/12 8:30 (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 PSF 202212 BP/SF cross rate Yes(1) 2 business days prior to cutoff 2022/12/19 09:16 (CT) 2022/12/16 7:20 (CT) 2022/12/19 09:16 (CT) 2022/12/16 7:20 (CT)
GLOBEX PSF 202303 BP/SF cross rate Yes(1) 2 business days prior to cutoff 2023/03/13 09:16 (CT) 2023/03/10 7:20 (CT) 2023/03/13 09:16 (CT) 2023/03/10 7:20 (CT)
GLOBEX PSF 202306 BP/SF cross rate Yes(1) 2 business days prior to cutoff 2023/06/16 09:16 (CT) 2023/06/15 7:20 (CT) 2023/06/16 09:16 (CT) 2023/06/15 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 RF 202212 Euro FX/SF cross rate Yes(1) 2 business days prior to cutoff 2022/12/19 09:16 (CT) 2022/12/16 7:20 (CT) 2022/12/19 09:16 (CT) 2022/12/16 7:20 (CT)
GLOBEX RF 202303 Euro FX/SF cross rate Yes(1) 2 business days prior to cutoff 2023/03/13 09:16 (CT) 2023/03/10 7:20 (CT) 2023/03/13 09:16 (CT) 2023/03/10 7:20 (CT)
GLOBEX RF 202306 Euro FX/SF cross rate Yes(1) 2 business days prior to cutoff 2023/06/16 09:16 (CT) 2023/06/15 7:20 (CT) 2023/06/16 09:16 (CT) 2023/06/15 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 202212 Euro FX/BP cross rate Yes(1) 2 business days prior to cutoff 2022/12/19 09:16 (CT) 2022/12/16 7:20 (CT) 2022/12/19 09:16 (CT) 2022/12/16 7:20 (CT)
GLOBEX RP 202303 Euro FX/BP cross rate Yes(1) 2 business days prior to cutoff 2023/03/13 09:16 (CT) 2023/03/10 7:20 (CT) 2023/03/13 09:16 (CT) 2023/03/10 7:20 (CT)
GLOBEX RP 202306 Euro FX/BP cross rate Yes(1) 2 business days prior to cutoff 2023/06/16 09:16 (CT) 2023/06/15 7:20 (CT) 2023/06/16 09:16 (CT) 2023/06/15 7:20 (CT)
GLOBEX RP 202207 Euro FX/BP cross rate Yes(1) 2 business days prior to cutoff 2022/07/18 09:16 (CT) 2022/07/15 7:20 (CT) 2022/07/18 09:16 (CT) 2022/07/15 7:20 (CT)
GLOBEX RP 202208 Euro FX/BP cross rate Yes(1) 2 business days prior to cutoff 2022/08/15 09:16 (CT) 2022/08/12 7:20 (CT) 2022/08/15 09:16 (CT) 2022/08/12 7:20 (CT)
GLOBEX RP 202210 Euro FX/BP cross rate Yes(1) 2 business days prior to cutoff 2022/10/17 09:16 (CT) 2022/10/14 7:20 (CT) 2022/10/17 09:16 (CT) 2022/10/14 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 RY 202212 Euro FX/JY cross rate Yes(1) 2 business days prior to cutoff 2022/12/19 09:16 (CT) 2022/12/16 7:20 (CT) 2022/12/19 09:16 (CT) 2022/12/16 7:20 (CT)
GLOBEX RY 202303 Euro FX/JY cross rate Yes(1) 2 business days prior to cutoff 2023/03/13 09:16 (CT) 2023/03/10 7:20 (CT) 2023/03/13 09:16 (CT) 2023/03/10 7:20 (CT)
GLOBEX RY 202306 Euro FX/JY cross rate Yes(1) 2 business days prior to cutoff 2023/06/16 09:16 (CT) 2023/06/15 7:20 (CT) 2023/06/16 09:16 (CT) 2023/06/15 7:20 (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 SEK 202212 SWEDISH KRONA No 5 business days prior to cutoff 2022/12/19 09:16 (CT) 2022/12/13 8:30 (CT) 2022/12/19 09:16 (CT) 2022/12/13 8:30 (CT)
GLOBEX SEK 202303 SWEDISH KRONA No 5 business days prior to cutoff 2023/03/13 09:16 (CT) 2023/03/07 8:30 (CT) 2023/03/13 09:16 (CT) 2023/03/07 8:30 (CT)
GLOBEX SEK 202306 SWEDISH KRONA No 5 business days prior to cutoff 2023/06/16 09:16 (CT) 2023/06/12 8:30 (CT) 2023/06/16 09:16 (CT) 2023/06/12 8:30 (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)
GLOBEX SJY 202212 SF/JY cross rate Yes(1) 2 business days prior to cutoff 2022/12/19 09:16 (CT) 2022/12/16 7:20 (CT) 2022/12/19 09:16 (CT) 2022/12/16 7:20 (CT)
GLOBEX SJY 202303 SF/JY cross rate Yes(1) 2 business days prior to cutoff 2023/03/13 09:16 (CT) 2023/03/10 7:20 (CT) 2023/03/13 09:16 (CT) 2023/03/10 7:20 (CT)
GLOBEX SJY 202306 SF/JY cross rate Yes(1) 2 business days prior to cutoff 2023/06/16 09:16 (CT) 2023/06/15 7:20 (CT) 2023/06/16 09:16 (CT) 2023/06/15 7:20 (CT)
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 202212 CNH FX Yes(1) 2 business days prior to cutoff 2022/12/19 11:00 2022/12/16 09:00 2022/12/19 11:00 2022/12/16 09:00
HKFE CUS 202303 CNH FX Yes(1) 2 business days prior to cutoff 2023/03/13 11:00 2023/03/10 09:00 2023/03/13 11:00 2023/03/10 09:00
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 202207 CNH FX Yes(1) 2 business days prior to cutoff 2022/07/18 11:00 2022/07/15 09:00 2022/07/18 11:00 2022/07/15 09:00
HKFE CUS 202208 CNH FX Yes(1) 2 business days prior to cutoff 2022/08/15 11:00 2022/08/12 09:00 2022/08/15 11:00 2022/08/12 09:00
HKFE CUS 202210 CNH FX Yes(1) 2 business days prior to cutoff 2022/10/17 11:00 2022/10/14 09:00 2022/10/17 11:00 2022/10/14 09:00
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 GDR 202212 Gold No 3 business days prior to cutoff 2022/12/13 16:30 2022/12/09 8:30 2022/12/19 16:30 2022/12/15 8:30
HKFE GDR 202301 Gold No 3 business days prior to cutoff 2023/01/10 16:30 2023/01/06 8:30 2023/01/16 16:30 2023/01/12 8:30
HKFE GDR 202302 Gold No 3 business days prior to cutoff 2023/02/14 16:30 2023/02/10 8:30 2023/02/20 16:30 2023/02/16 8:30
HKFE GDR 202303 Gold No 3 business days prior to cutoff 2023/03/14 16:30 2023/03/10 8:30 2023/03/20 16:30 2023/03/16 8:30
HKFE GDR 202304 Gold No 3 business days prior to cutoff 2023/04/11 16:30 2023/04/07 8:30 2023/04/17 16:30 2023/04/13 8:30
HKFE GDR 202305 Gold No 3 business days prior to cutoff 2023/05/09 16:30 2023/05/05 8:30 2023/05/15 16:30 2023/05/11 8:30
HKFE GDR 202306 Gold No 3 business days prior to cutoff 2023/06/13 16:30 2023/06/09 8:30 2023/06/19 16:30 2023/06/15 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
HKFE GDU 202212 Gold No 3 business days prior to cutoff 2022/12/13 16:30 2022/12/09 8:30 2022/12/13 16:30 2022/12/09 8:30
HKFE GDU 202301 Gold No 3 business days prior to cutoff 2023/01/10 16:30 2023/01/06 8:30 2023/01/10 16:30 2023/01/06 8:30
HKFE GDU 202302 Gold No 3 business days prior to cutoff 2023/02/14 16:30 2023/02/10 8:30 2023/02/14 16:30 2023/02/10 8:30
HKFE GDU 202303 Gold No 3 business days prior to cutoff 2023/03/14 16:30 2023/03/10 8:30 2023/03/14 16:30 2023/03/10 8:30
HKFE GDU 202304 Gold No 3 business days prior to cutoff 2023/04/11 16:30 2023/04/07 8:30 2023/04/11 16:30 2023/04/07 8:30
HKFE GDU 202305 Gold No 3 business days prior to cutoff 2023/05/09 16:30 2023/05/05 8:30 2023/05/09 16:30 2023/05/05 8:30
HKFE GDU 202306 Gold No 3 business days prior to cutoff 2023/06/13 16:30 2023/06/09 8:30 2023/06/13 16:30 2023/06/09 8:30
HKFE TCA 202206 TENCENT HOLDINGS LTD Yes(1) 2 business days prior to cutoff 2022/06/29 16:00 2022/06/28 09:30 2022/06/29 16:00 2022/06/28 09:30
HKFE TCA 202209 TENCENT HOLDINGS LTD Yes(1) 2 business days prior to cutoff 2022/09/29 16:00 2022/09/28 09:30 2022/09/29 16:00 2022/09/28 09:30
ICECRYPTO BTM 202206 Bakkt Bitcoin No 3 business days prior to cutoff 2022/06/15 16:00 2022/06/13 9:30 2022/06/23 14:30 2022/06/21 9:30
ICECRYPTO BTM 202207 Bakkt Bitcoin No 3 business days prior to cutoff 2022/07/13 16:00 2022/07/11 9:30 2022/07/28 14:30 2022/07/26 9:30
ICECRYPTO BTM 202208 Bakkt Bitcoin No 3 business days prior to cutoff 2022/08/17 16:00 2022/08/15 9:30 2022/08/25 14:30 2022/08/23 9:30
ICECRYPTO BTM 202209 Bakkt Bitcoin No 3 business days prior to cutoff 2022/09/14 16:00 2022/09/12 9:30 2022/09/29 14:30 2022/09/27 9:30
ICECRYPTO BTM 202210 Bakkt Bitcoin No 3 business days prior to cutoff 2022/10/19 16:00 2022/10/17 9:30 2022/10/27 14:30 2022/10/25 9:30
ICECRYPTO BTM 202211 Bakkt Bitcoin No 3 business days prior to cutoff 2022/11/16 16:00 2022/11/14 9:30 2022/11/24 14:30 2022/11/22 9:30
ICECRYPTO BTM 202212 Bakkt Bitcoin No 3 business days prior to cutoff 2022/12/14 16:00 2022/12/12 9:30 2022/12/29 14:30 2022/12/27 9:30
ICECRYPTO BTM 202301 Bakkt Bitcoin No 3 business days prior to cutoff 2023/01/25 16:00 2023/01/23 9:30 2023/01/26 14:30 2023/01/24 9:30
ICECRYPTO BTM 202302 Bakkt Bitcoin No 3 business days prior to cutoff 2023/02/22 16:00 2023/02/20 9:30 2023/02/23 14:30 2023/02/21 9:30
ICECRYPTO BTM 202303 Bakkt Bitcoin No 3 business days prior to cutoff 2023/03/29 16:00 2023/03/27 9:30 2023/03/30 14:30 2023/03/28 9:30
ICECRYPTO BTM 202304 Bakkt Bitcoin No 3 business days prior to cutoff 2023/04/26 16:00 2023/04/24 9:30 2023/04/27 14:30 2023/04/25 9:30
ICECRYPTO BTM 202305 Bakkt Bitcoin No 3 business days prior to cutoff 2023/05/24 16:00 2023/05/22 9:30 2023/05/25 14:30 2023/05/23 9:30
ICEEU G 202206 Short 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
ICEEU G 202209 Short Gilt No 2 business days prior to cutoff 2022/08/30 16:30 2022/08/29 8:00 2022/09/28 11:00 2022/09/27 8:00
ICEEU H 202206 Medium 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
ICEEU H 202209 Medium Gilt No 2 business days prior to cutoff 2022/08/30 16:30 2022/08/29 8:00 2022/09/28 11:00 2022/09/27 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
ICEEU R 202209 Long Gilt No 2 business days prior to cutoff 2022/08/30 16:30 2022/08/29 8:00 2022/09/28 11:00 2022/09/27 8:00
ICEEU R 202212 Long Gilt No 2 business days prior to cutoff 2022/11/29 16:30 2022/11/28 8:00 2022/12/28 11:00 2022/12/27 8:00
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 C 202212 Cocoa No 3 business days prior to cutoff 2022/12/13 12:00 2022/12/09 9:30 2022/12/13 12:00 2022/12/09 9:30
ICEEUSOFT C 202303 Cocoa No 3 business days prior to cutoff 2023/03/16 12:00 2023/03/14 9:30 2023/03/16 12:00 2023/03/14 9:30
ICEEUSOFT C 202305 Cocoa No 3 business days prior to cutoff 2023/05/15 12:00 2023/05/11 9:30 2023/05/15 12:00 2023/05/11 9:30
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
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.