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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 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 202105 Euro FX/BP cross rate Yes(1) 2 business days prior to cutoff 2021/05/17 09:16 (CT) 2021/05/14 7:20 (CT) 2021/05/17 09:16 (CT) 2021/05/14 7:20 (CT)
GLOBEX RP 202107 Euro FX/BP cross rate Yes(1) 2 business days prior to cutoff 2021/07/19 09:16 (CT) 2021/07/16 7:20 (CT) 2021/07/19 09:16 (CT) 2021/07/16 7:20 (CT)
GLOBEX RP 202108 Euro FX/BP cross rate Yes(1) 2 business days prior to cutoff 2021/08/16 09:16 (CT) 2021/08/13 7:20 (CT) 2021/08/16 09:16 (CT) 2021/08/13 7:20 (CT)
GLOBEX RY 202106 Euro FX/JY cross rate Yes(1) 2 business days prior to cutoff 2021/06/14 09:16 (CT) 2021/06/11 7:20 (CT) 2021/06/14 09:16 (CT) 2021/06/11 7:20 (CT)
GLOBEX RY 202109 Euro FX/JY cross rate Yes(1) 2 business days prior to cutoff 2021/09/13 09:16 (CT) 2021/09/10 7:20 (CT) 2021/09/13 09:16 (CT) 2021/09/10 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 SEK 202106 SWEDISH KRONA No 5 business days prior to cutoff 2021/06/14 09:16 (CT) 2021/06/08 8:30 (CT) 2021/06/14 09:16 (CT) 2021/06/08 8:30 (CT)
GLOBEX SEK 202109 SWEDISH KRONA No 5 business days prior to cutoff 2021/09/13 09:16 (CT) 2021/09/07 8:30 (CT) 2021/09/13 09:16 (CT) 2021/09/07 8:30 (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 SJY 202106 SF/JY cross rate Yes(1) 2 business days prior to cutoff 2021/06/14 09:16 (CT) 2021/06/11 7:20 (CT) 2021/06/14 09:16 (CT) 2021/06/11 7:20 (CT)
GLOBEX SJY 202109 SF/JY cross rate Yes(1) 2 business days prior to cutoff 2021/09/13 09:16 (CT) 2021/09/10 7:20 (CT) 2021/09/13 09:16 (CT) 2021/09/10 7:20 (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)
HKFE CUS 202106 CNH FX Yes(1) 2 business days prior to cutoff 2021/06/11 11:00 2021/06/10 09:00 2021/06/11 11:00 2021/06/10 09:00
HKFE CUS 202109 CNH FX Yes(1) 2 business days prior to cutoff 2021/09/13 11:00 2021/09/10 09:00 2021/09/13 11:00 2021/09/10 09:00
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 202105 CNH FX Yes(1) 2 business days prior to cutoff 2021/05/17 11:00 2021/05/14 09:00 2021/05/17 11:00 2021/05/14 09:00
HKFE CUS 202107 CNH FX Yes(1) 2 business days prior to cutoff 2021/07/19 11:00 2021/07/16 09:00 2021/07/19 11:00 2021/07/16 09:00
HKFE CUS 202108 CNH FX Yes(1) 2 business days prior to cutoff 2021/08/16 11:00 2021/08/13 09:00 2021/08/16 11:00 2021/08/13 09:00
HKFE GDR 202105 Gold No 3 business days prior to cutoff 2021/05/11 16:30 2021/05/07 8:30 2021/05/17 16:30 2021/05/13 8:30
HKFE GDR 202106 Gold No 3 business days prior to cutoff 2021/06/15 16:30 2021/06/11 8:30 2021/06/21 16:30 2021/06/17 8:30
HKFE GDR 202107 Gold No 3 business days prior to cutoff 2021/07/13 16:30 2021/07/09 8:30 2021/07/19 16:30 2021/07/15 8:30
HKFE GDR 202108 Gold No 3 business days prior to cutoff 2021/08/10 16:30 2021/08/06 8:30 2021/08/16 16:30 2021/08/12 8:30
HKFE GDR 202109 Gold No 3 business days prior to cutoff 2021/09/14 16:30 2021/09/10 8:30 2021/09/20 16:30 2021/09/16 8:30
HKFE GDR 202110 Gold No 3 business days prior to cutoff 2021/10/11 16:30 2021/10/07 8:30 2021/10/18 16:30 2021/10/14 8:30
HKFE GDR 202111 Gold No 3 business days prior to cutoff 2021/11/09 16:30 2021/11/05 8:30 2021/11/15 16:30 2021/11/11 8:30
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 GDU 202105 Gold No 3 business days prior to cutoff 2021/05/11 16:30 2021/05/07 8:30 2021/05/11 16:30 2021/05/07 8:30
HKFE GDU 202106 Gold No 3 business days prior to cutoff 2021/06/15 16:30 2021/06/11 8:30 2021/06/15 16:30 2021/06/11 8:30
HKFE GDU 202107 Gold No 3 business days prior to cutoff 2021/07/13 16:30 2021/07/09 8:30 2021/07/13 16:30 2021/07/09 8:30
HKFE GDU 202108 Gold No 3 business days prior to cutoff 2021/08/10 16:30 2021/08/06 8:30 2021/08/10 16:30 2021/08/06 8:30
HKFE GDU 202109 Gold No 3 business days prior to cutoff 2021/09/14 16:30 2021/09/10 8:30 2021/09/14 16:30 2021/09/10 8:30
HKFE GDU 202110 Gold No 3 business days prior to cutoff 2021/10/11 16:30 2021/10/07 8:30 2021/10/11 16:30 2021/10/07 8:30
HKFE GDU 202111 Gold No 3 business days prior to cutoff 2021/11/09 16:30 2021/11/05 8:30 2021/11/09 16:30 2021/11/05 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
ICECRYPTO BTM 202105 Bakkt Bitcoin No 3 business days prior to cutoff 2021/05/19 16:00 2021/05/17 9:30 2021/05/20 14:30 2021/05/18 9:30
ICECRYPTO BTM 202106 Bakkt Bitcoin No 3 business days prior to cutoff 2021/06/16 16:00 2021/06/14 9:30 2021/06/17 14:30 2021/06/15 9:30
ICECRYPTO BTM 202107 Bakkt Bitcoin No 3 business days prior to cutoff 2021/07/14 16:00 2021/07/12 9:30 2021/07/15 14:30 2021/07/13 9:30
ICECRYPTO BTM 202108 Bakkt Bitcoin No 3 business days prior to cutoff 2021/08/18 16:00 2021/08/16 9:30 2021/08/19 14:30 2021/08/17 9:30
ICECRYPTO BTM 202109 Bakkt Bitcoin No 3 business days prior to cutoff 2021/09/15 16:00 2021/09/13 9:30 2021/09/16 14:30 2021/09/14 9:30
ICECRYPTO BTM 202110 Bakkt Bitcoin No 3 business days prior to cutoff 2021/10/13 16:00 2021/10/11 9:30 2021/10/14 14:30 2021/10/12 9:30
ICECRYPTO BTM 202111 Bakkt Bitcoin No 3 business days prior to cutoff 2021/11/17 16:00 2021/11/15 9:30 2021/11/18 14:30 2021/11/16 9:30
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
ICEEU G 202106 Short Gilt No 2 business days prior to cutoff 2021/05/28 16:30 2021/05/27 8:00 2021/06/28 11:00 2021/06/25 8:00
ICEEU G 202109 Short Gilt No 2 business days prior to cutoff 2021/08/30 16:30 2021/08/27 8:00 2021/09/28 11:00 2021/09/27 8:00
ICEEU H 202106 Medium Gilt No 2 business days prior to cutoff 2021/05/28 16:30 2021/05/27 8:00 2021/06/28 11:00 2021/06/25 8:00
ICEEU H 202109 Medium Gilt No 2 business days prior to cutoff 2021/08/30 16:30 2021/08/27 8:00 2021/09/28 11:00 2021/09/27 8:00
ICEEU R 202106 Long Gilt No 2 business days prior to cutoff 2021/05/28 16:30 2021/05/27 8:00 2021/06/28 11:00 2021/06/25 8:00
ICEEU R 202109 Long Gilt No 2 business days prior to cutoff 2021/08/30 16:30 2021/08/27 8:00 2021/09/28 11:00 2021/09/27 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 2021/12/28 8:00
ICEEUSOFT C 202105 Cocoa No 3 business days prior to cutoff 2021/05/13 12:00 2021/05/11 9:30 2021/05/13 12:00 2021/05/11 9:30
ICEEUSOFT C 202107 Cocoa No 3 business days prior to cutoff 2021/07/15 12:00 2021/07/13 9:30 2021/07/15 12:00 2021/07/13 9:30
ICEEUSOFT C 202109 Cocoa No 3 business days prior to cutoff 2021/09/15 12:00 2021/09/13 9:30 2021/09/15 12:00 2021/09/13 9:30
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 RC 202105 Robusta coffee No 3 business days prior to cutoff 2021/04/27 17:30 2021/04/23 9:00 2021/05/24 12:30 2021/05/20 9:00
ICEEUSOFT RC 202107 Robusta coffee No 3 business days prior to cutoff 2021/06/25 17:30 2021/06/23 9:00 2021/07/26 12:30 2021/07/22 9:00
ICEEUSOFT RC 202109 Robusta coffee No 3 business days prior to cutoff 2021/08/25 17:30 2021/08/23 9:00 2021/09/24 12:30 2021/09/22 9:00
ICEEUSOFT RC 202111 Robusta coffee No 3 business days prior to cutoff 2021/10/26 17:30 2021/10/22 9:00 2021/11/24 12:30 2021/11/22 9:00
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 T 202105 Wheat No 3 business days prior to cutoff 2021/04/26 16:30 2021/04/22 9:25 2021/05/21 12:30 2021/05/19 9:25
ICEEUSOFT T 202111 Wheat No 3 business days prior to cutoff 2021/10/25 16:30 2021/10/21 9:25 2021/11/23 12:30 2021/11/19 9:25
ICEEUSOFT T 202107 Wheat No 3 business days prior to cutoff 2021/06/24 16:30 2021/06/22 9:25 2021/07/07 12:30 2021/07/05 9:25
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 W 202108 White sugar No 3 business days prior to cutoff 2021/07/16 17:55 2021/07/14 8:45 2021/07/16 17:55 2021/07/14 8:45
ICEEUSOFT W 202110 White sugar No 3 business days prior to cutoff 2021/09/15 17:55 2021/09/13 8:45 2021/09/15 17:55 2021/09/13 8:45
ICEEUSOFT W 202112 White sugar No 3 business days prior to cutoff 2021/11/15 17:55 2021/11/11 8:45 2021/11/15 17:55 2021/11/11 8:45
ICEEUSOFT W 202203 White sugar No 3 business days prior to cutoff 2022/02/11 17:55 2022/02/09 8:45 2022/02/11 17:55 2022/02/09 8:45
ICEEUSOFT W 202205 White sugar No 3 business days prior to cutoff 2022/04/15 17:55 2022/04/13 8:45 2022/04/15 17:55 2022/04/13 8:45
ICEUS KAU 202106 AUD Cash Yes(1) 2 business days prior to cutoff 2021/06/14 00:00 (ET) 2021/06/11 8:05 (ET) 2021/06/14 15:00 (ET) 2021/06/11 8:05 (ET)
ICEUS KAU 202109 AUD Cash Yes(1) 2 business days prior to cutoff 2021/09/13 00:00 (ET) 2021/09/10 8:05 (ET) 2021/09/13 15:00 (ET) 2021/09/10 8:05 (ET)
ICEUS KAU 202112 AUD Cash Yes(1) 2 business days prior to cutoff 2021/12/13 00:00 (ET) 2021/12/10 8:05 (ET) 2021/12/13 15:00 (ET) 2021/12/10 8:05 (ET)
ICEUS KAU 202203 AUD Cash Yes(1) 2 business days prior to cutoff 2022/03/14 00:00 (ET) 2022/03/11 8:05 (ET) 2022/03/14 15:00 (ET) 2022/03/11 8:05 (ET)
ICEUS KEJ 202106 Euro-Japanese Yen Index Yes(1) 2 business days prior to cutoff 2021/06/14 10:16 (ET) 2021/06/11 8:05 (ET) 2021/06/14 10:16 (ET) 2021/06/11 8:05 (ET)
ICEUS KEJ 202109 Euro-Japanese Yen Index Yes(1) 2 business days prior to cutoff 2021/09/13 10:16 (ET) 2021/09/10 8:05 (ET) 2021/09/13 10:16 (ET) 2021/09/10 8:05 (ET)
ICEUS KEJ 202112 Euro-Japanese Yen Index Yes(1) 2 business days prior to cutoff 2021/12/13 10:16 (ET) 2021/12/10 8:05 (ET) 2021/12/13 10:16 (ET) 2021/12/10 8:05 (ET)
ICEUS KEJ 202203 Euro-Japanese Yen Index Yes(1) 2 business days prior to cutoff 2022/03/14 10:16 (ET) 2022/03/11 8:05 (ET) 2022/03/14 10:16 (ET) 2022/03/11 8:05 (ET)
ICEUS KEO 202106 EUR Cash USD Yes(1) 2 business days prior to cutoff 2021/06/14 00:00 (ET) 2021/06/11 8:05 (ET) 2021/06/14 15:00 (ET) 2021/06/11 8:05 (ET)
ICEUS KEO 202109 EUR Cash USD Yes(1) 2 business days prior to cutoff 2021/09/13 00:00 (ET) 2021/09/10 8:05 (ET) 2021/09/13 15:00 (ET) 2021/09/10 8:05 (ET)
ICEUS KEO 202112 EUR Cash USD Yes(1) 2 business days prior to cutoff 2021/12/13 00:00 (ET) 2021/12/10 8:05 (ET) 2021/12/13 15:00 (ET) 2021/12/10 8:05 (ET)
ICEUS KEO 202203 EUR Cash USD Yes(1) 2 business days prior to cutoff 2022/03/14 00:00 (ET) 2022/03/11 8:05 (ET) 2022/03/14 15:00 (ET) 2022/03/11 8:05 (ET)
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.