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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
ICECRYPTO BTM 202309 Bakkt Bitcoin No 3 business days prior to cutoff 2023/09/27 16:00 2023/09/25 9:30 2023/09/28 14:30 2023/09/26 9:30
ICECRYPTO BTM 202310 Bakkt Bitcoin No 3 business days prior to cutoff 2023/10/25 16:00 2023/10/23 9:30 2023/10/26 14:30 2023/10/24 9:30
ICECRYPTO BTM 202311 Bakkt Bitcoin No 3 business days prior to cutoff 2023/11/22 16:00 2023/11/20 9:30 2023/11/23 14:30 2023/11/21 9:30
ICEEU G 202212 Short 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
ICEEU G 202303 Short Gilt No 2 business days prior to cutoff 2023/02/27 16:30 2023/02/24 8:00 2023/03/29 11:00 2023/03/28 8:00
ICEEU H 202212 Medium 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
ICEEU H 202303 Medium Gilt No 2 business days prior to cutoff 2023/02/27 16:30 2023/02/24 8:00 2023/03/29 11:00 2023/03/28 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
ICEEU R 202303 Long Gilt No 2 business days prior to cutoff 2023/02/27 16:30 2023/02/24 8:00 2023/03/29 11:00 2023/03/28 8:00
ICEEU R 202306 Long Gilt No 2 business days prior to cutoff 2023/05/30 16:30 2023/05/29 8:00 2023/06/28 11:00 2023/06/27 8:00
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 C 202307 Cocoa No 3 business days prior to cutoff 2023/07/14 12:00 2023/07/12 9:30 2023/07/14 12:00 2023/07/12 9:30
ICEEUSOFT C 202309 Cocoa No 3 business days prior to cutoff 2023/09/14 12:00 2023/09/12 9:30 2023/09/14 12:00 2023/09/12 9:30
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 RC 202301 Robusta coffee No 3 business days prior to cutoff 2022/12/23 17:30 2022/12/21 9:00 2023/01/25 12:30 2023/01/23 9:00
ICEEUSOFT RC 202303 Robusta coffee No 3 business days prior to cutoff 2023/02/23 17:30 2023/02/21 9:00 2023/03/27 12:30 2023/03/23 9:00
ICEEUSOFT RC 202305 Robusta coffee No 3 business days prior to cutoff 2023/04/25 17:30 2023/04/21 9:00 2023/05/24 12:30 2023/05/22 9:00
ICEEUSOFT RC 202307 Robusta coffee No 3 business days prior to cutoff 2023/06/27 17:30 2023/06/23 9:00 2023/07/25 12:30 2023/07/21 9:00
ICEEUSOFT RC 202309 Robusta coffee No 3 business days prior to cutoff 2023/08/25 17:30 2023/08/23 9:00 2023/09/25 12:30 2023/09/21 9:00
ICEEUSOFT RC 202311 Robusta coffee No 3 business days prior to cutoff 2023/10/26 17:30 2023/10/24 9:00 2023/11/24 12:30 2023/11/22 9:00
ICEEUSOFT T 202301 Wheat No 3 business days prior to cutoff 2022/12/26 16:30 2022/12/22 9:25 2023/01/23 12:30 2023/01/19 9:25
ICEEUSOFT T 202303 Wheat No 3 business days prior to cutoff 2023/02/22 16:30 2023/02/20 9:25 2023/03/23 12:30 2023/03/21 9:25
ICEEUSOFT T 202305 Wheat No 3 business days prior to cutoff 2023/04/24 16:30 2023/04/20 9:25 2023/05/23 12:30 2023/05/19 9:25
ICEEUSOFT T 202311 Wheat No 3 business days prior to cutoff 2023/10/25 16:30 2023/10/23 9:25 2023/11/23 12:30 2023/11/21 9:25
ICEEUSOFT T 202307 Wheat No 3 business days prior to cutoff 2023/06/26 16:30 2023/06/22 9:25 2023/07/07 12:30 2023/07/05 9:25
ICEEUSOFT W 202303 White sugar No 3 business days prior to cutoff 2023/02/13 17:55 2023/02/09 8:45 2023/02/13 17:55 2023/02/09 8:45
ICEEUSOFT W 202305 White sugar No 3 business days prior to cutoff 2023/04/14 17:55 2023/04/12 8:45 2023/04/14 17:55 2023/04/12 8:45
ICEEUSOFT W 202308 White sugar No 3 business days prior to cutoff 2023/07/14 17:55 2023/07/12 8:45 2023/07/14 17:55 2023/07/12 8:45
ICEEUSOFT W 202310 White sugar No 3 business days prior to cutoff 2023/09/15 17:55 2023/09/13 8:45 2023/09/15 17:55 2023/09/13 8:45
ICEEUSOFT W 202312 White sugar No 3 business days prior to cutoff 2023/11/15 17:55 2023/11/13 8:45 2023/11/15 17:55 2023/11/13 8:45
ICEUS KAU 202212 AUD Cash Yes(1) 2 business days prior to cutoff 2022/12/19 00:00 (ET) 2022/12/16 8:05 (ET) 2022/12/19 15:00 (ET) 2022/12/16 8:05 (ET)
ICEUS KAU 202303 AUD Cash Yes(1) 2 business days prior to cutoff 2023/03/13 00:00 (ET) 2023/03/10 8:05 (ET) 2023/03/13 15:00 (ET) 2023/03/10 8:05 (ET)
ICEUS KAU 202306 AUD Cash Yes(1) 2 business days prior to cutoff 2023/06/19 00:00 (ET) 2023/06/16 8:05 (ET) 2023/06/19 15:00 (ET) 2023/06/16 8:05 (ET)
ICEUS KAU 202309 AUD Cash Yes(1) 2 business days prior to cutoff 2023/09/18 00:00 (ET) 2023/09/15 8:05 (ET) 2023/09/18 15:00 (ET) 2023/09/15 8:05 (ET)
ICEUS KEJ 202212 Euro-Japanese Yen Index Yes(1) 2 business days prior to cutoff 2022/12/19 10:16 (ET) 2022/12/16 8:05 (ET) 2022/12/19 10:16 (ET) 2022/12/16 8:05 (ET)
ICEUS KEJ 202303 Euro-Japanese Yen Index Yes(1) 2 business days prior to cutoff 2023/03/13 10:16 (ET) 2023/03/10 8:05 (ET) 2023/03/13 10:16 (ET) 2023/03/10 8:05 (ET)
ICEUS KEJ 202306 Euro-Japanese Yen Index Yes(1) 2 business days prior to cutoff 2023/06/19 10:16 (ET) 2023/06/16 8:05 (ET) 2023/06/19 10:16 (ET) 2023/06/16 8:05 (ET)
ICEUS KEJ 202309 Euro-Japanese Yen Index Yes(1) 2 business days prior to cutoff 2023/09/18 10:16 (ET) 2023/09/15 8:05 (ET) 2023/09/18 10:16 (ET) 2023/09/15 8:05 (ET)
ICEUS KEO 202212 EUR Cash USD Yes(1) 2 business days prior to cutoff 2022/12/19 00:00 (ET) 2022/12/16 8:05 (ET) 2022/12/19 15:00 (ET) 2022/12/16 8:05 (ET)
ICEUS KEO 202303 EUR Cash USD Yes(1) 2 business days prior to cutoff 2023/03/13 00:00 (ET) 2023/03/10 8:05 (ET) 2023/03/13 15:00 (ET) 2023/03/10 8:05 (ET)
ICEUS KEO 202306 EUR Cash USD Yes(1) 2 business days prior to cutoff 2023/06/19 00:00 (ET) 2023/06/16 8:05 (ET) 2023/06/19 15:00 (ET) 2023/06/16 8:05 (ET)
ICEUS KEO 202309 EUR Cash USD Yes(1) 2 business days prior to cutoff 2023/09/18 00:00 (ET) 2023/09/15 8:05 (ET) 2023/09/18 15:00 (ET) 2023/09/15 8:05 (ET)
ICEUS KEP 202212 EUR Cash CAD Yes(1) 2 business days prior to cutoff 2022/12/19 10:16 (ET) 2022/12/16 8:05 (ET) 2022/12/19 10:16 (ET) 2022/12/16 8:05 (ET)
ICEUS KEP 202303 EUR Cash CAD Yes(1) 2 business days prior to cutoff 2023/03/13 10:16 (ET) 2023/03/10 8:05 (ET) 2023/03/13 10:16 (ET) 2023/03/10 8:05 (ET)
ICEUS KEP 202306 EUR Cash CAD Yes(1) 2 business days prior to cutoff 2023/06/19 10:16 (ET) 2023/06/16 8:05 (ET) 2023/06/19 10:16 (ET) 2023/06/16 8:05 (ET)
ICEUS KEP 202309 EUR Cash CAD Yes(1) 2 business days prior to cutoff 2023/09/18 10:16 (ET) 2023/09/15 8:05 (ET) 2023/09/18 10:16 (ET) 2023/09/15 8:05 (ET)
ICEUS KGB 202212 Euro-British Pound Index Yes(1) 2 business days prior to cutoff 2022/12/19 10:16 (ET) 2022/12/16 8:05 (ET) 2022/12/19 10:16 (ET) 2022/12/16 8:05 (ET)
ICEUS KGB 202303 Euro-British Pound Index Yes(1) 2 business days prior to cutoff 2023/03/13 10:16 (ET) 2023/03/10 8:05 (ET) 2023/03/13 10:16 (ET) 2023/03/10 8:05 (ET)
ICEUS KGB 202306 Euro-British Pound Index Yes(1) 2 business days prior to cutoff 2023/06/19 10:16 (ET) 2023/06/16 8:05 (ET) 2023/06/19 10:16 (ET) 2023/06/16 8:05 (ET)
ICEUS KGB 202309 Euro-British Pound Index Yes(1) 2 business days prior to cutoff 2023/09/18 10:16 (ET) 2023/09/15 8:05 (ET) 2023/09/18 10:16 (ET) 2023/09/15 8:05 (ET)
ICEUS KRA 202212 EUR Cash AUD Yes(1) 2 business days prior to cutoff 2022/12/19 10:16 (ET) 2022/12/16 8:05 (ET) 2022/12/19 10:16 (ET) 2022/12/16 8:05 (ET)
ICEUS KRA 202303 EUR Cash AUD Yes(1) 2 business days prior to cutoff 2023/03/13 10:16 (ET) 2023/03/10 8:05 (ET) 2023/03/13 10:16 (ET) 2023/03/10 8:05 (ET)
ICEUS KRA 202306 EUR Cash AUD Yes(1) 2 business days prior to cutoff 2023/06/19 10:16 (ET) 2023/06/16 8:05 (ET) 2023/06/19 10:16 (ET) 2023/06/16 8:05 (ET)
ICEUS KRA 202309 EUR Cash AUD Yes(1) 2 business days prior to cutoff 2023/09/18 10:16 (ET) 2023/09/15 8:05 (ET) 2023/09/18 10:16 (ET) 2023/09/15 8:05 (ET)
ICEUS KRZ 202212 EUR Swiss Franc Yes(1) 2 business days prior to cutoff 2022/12/19 10:16 (ET) 2022/12/16 8:05 (ET) 2022/12/19 10:16 (ET) 2022/12/16 8:05 (ET)
ICEUS KRZ 202303 EUR Swiss Franc Yes(1) 2 business days prior to cutoff 2023/03/13 10:16 (ET) 2023/03/10 8:05 (ET) 2023/03/13 10:16 (ET) 2023/03/10 8:05 (ET)
ICEUS KRZ 202306 EUR Swiss Franc Yes(1) 2 business days prior to cutoff 2023/06/19 10:16 (ET) 2023/06/16 8:05 (ET) 2023/06/19 10:16 (ET) 2023/06/16 8:05 (ET)
ICEUS KRZ 202309 EUR Swiss Franc Yes(1) 2 business days prior to cutoff 2023/09/18 10:16 (ET) 2023/09/15 8:05 (ET) 2023/09/18 10:16 (ET) 2023/09/15 8:05 (ET)
ICEUS KZY 202212 Swiss Franc-Japanese Yen Index Yes(1) 2 business days prior to cutoff 2022/12/19 10:16 (ET) 2022/12/16 8:05 (ET) 2022/12/19 10:16 (ET) 2022/12/16 8:05 (ET)
ICEUS KZY 202303 Swiss Franc-Japanese Yen Index Yes(1) 2 business days prior to cutoff 2023/03/13 10:16 (ET) 2023/03/10 8:05 (ET) 2023/03/13 10:16 (ET) 2023/03/10 8:05 (ET)
ICEUS KZY 202306 Swiss Franc-Japanese Yen Index Yes(1) 2 business days prior to cutoff 2023/06/19 10:16 (ET) 2023/06/16 8:05 (ET) 2023/06/19 10:16 (ET) 2023/06/16 8:05 (ET)
ICEUS KZY 202309 Swiss Franc-Japanese Yen Index Yes(1) 2 business days prior to cutoff 2023/09/18 10:16 (ET) 2023/09/15 8:05 (ET) 2023/09/18 10:16 (ET) 2023/09/15 8:05 (ET)
ICEUS MP 202212 GBP USD Yes(1) 2 business days prior to cutoff 2022/12/19 00:00 (ET) 2022/12/16 8:05 (ET) 2022/12/19 15:00 (ET) 2022/12/16 8:05 (ET)
ICEUS MP 202303 GBP USD Yes(1) 2 business days prior to cutoff 2023/03/13 00:00 (ET) 2023/03/10 8:05 (ET) 2023/03/13 15:00 (ET) 2023/03/10 8:05 (ET)
ICEUS MP 202306 GBP USD Yes(1) 2 business days prior to cutoff 2023/06/19 00:00 (ET) 2023/06/16 8:05 (ET) 2023/06/19 15:00 (ET) 2023/06/16 8:05 (ET)
ICEUS MP 202309 GBP USD Yes(1) 2 business days prior to cutoff 2023/09/18 00:00 (ET) 2023/09/15 8:05 (ET) 2023/09/18 15:00 (ET) 2023/09/15 8:05 (ET)
ICEUS SS 202212 USD CHF Yes(1) 2 business days prior to cutoff 2022/12/19 00:00 (ET) 2022/12/16 8:05 (ET) 2022/12/19 15:00 (ET) 2022/12/16 8:05 (ET)
ICEUS SS 202303 USD CHF Yes(1) 2 business days prior to cutoff 2023/03/13 00:00 (ET) 2023/03/10 8:05 (ET) 2023/03/13 15:00 (ET) 2023/03/10 8:05 (ET)
ICEUS SS 202306 USD CHF Yes(1) 2 business days prior to cutoff 2023/06/19 00:00 (ET) 2023/06/16 8:05 (ET) 2023/06/19 15:00 (ET) 2023/06/16 8:05 (ET)
ICEUS SS 202309 USD CHF Yes(1) 2 business days prior to cutoff 2023/09/18 00:00 (ET) 2023/09/15 8:05 (ET) 2023/09/18 15:00 (ET) 2023/09/15 8:05 (ET)
ICEUS SY 202212 GBP in JPY Yes(1) 2 business days prior to cutoff 2022/12/19 00:00 (ET) 2022/12/16 8:05 (ET) 2022/12/19 15:00 (ET) 2022/12/16 8:05 (ET)
ICEUS SY 202303 GBP in JPY Yes(1) 2 business days prior to cutoff 2023/03/13 00:00 (ET) 2023/03/10 8:05 (ET) 2023/03/13 15:00 (ET) 2023/03/10 8:05 (ET)
ICEUS SY 202306 GBP in JPY Yes(1) 2 business days prior to cutoff 2023/06/19 00:00 (ET) 2023/06/16 8:05 (ET) 2023/06/19 15:00 (ET) 2023/06/16 8:05 (ET)
ICEUS SY 202309 GBP in JPY Yes(1) 2 business days prior to cutoff 2023/09/18 00:00 (ET) 2023/09/15 8:05 (ET) 2023/09/18 15:00 (ET) 2023/09/15 8:05 (ET)
IPE COIL 202302 Brent crude No 2 business days prior to cutoff 2022/12/29 18:30 (GMT) 2022/12/28 9:00 (GMT) 2022/12/29 18:30 (GMT) 2022/12/28 9:00 (GMT)
IPE COIL 202301 Brent crude No 2 business days prior to cutoff 2022/11/30 18:30 (GMT) 2022/11/29 9:00 (GMT) 2022/11/30 18:30 (GMT) 2022/11/29 9:00 (GMT)
IPE COIL 202303 Brent crude No 2 business days prior to cutoff 2023/01/31 18:30 (GMT) 2023/01/30 9:00 (GMT) 2023/01/31 18:30 (GMT) 2023/01/30 9:00 (GMT)
IPE COIL 202304 Brent crude No 2 business days prior to cutoff 2023/02/28 18:30 (GMT) 2023/02/27 9:00 (GMT) 2023/02/28 18:30 (GMT) 2023/02/27 9:00 (GMT)
IPE COIL 202305 Brent crude No 2 business days prior to cutoff 2023/03/31 18:30 (GMT) 2023/03/30 9:00 (GMT) 2023/03/31 18:30 (GMT) 2023/03/30 9:00 (GMT)
IPE COIL 202306 Brent crude No 2 business days prior to cutoff 2023/04/28 18:30 (GMT) 2023/04/27 9:00 (GMT) 2023/04/28 18:30 (GMT) 2023/04/27 9:00 (GMT)
IPE COIL 202307 Brent crude No 2 business days prior to cutoff 2023/05/31 18:30 (GMT) 2023/05/30 9:00 (GMT) 2023/05/31 18:30 (GMT) 2023/05/30 9:00 (GMT)
IPE COIL 202308 Brent crude No 2 business days prior to cutoff 2023/06/30 18:30 (GMT) 2023/06/29 9:00 (GMT) 2023/06/30 18:30 (GMT) 2023/06/29 9:00 (GMT)
IPE COIL 202309 Brent crude No 2 business days prior to cutoff 2023/07/31 18:30 (GMT) 2023/07/28 9:00 (GMT) 2023/07/31 18:30 (GMT) 2023/07/28 9:00 (GMT)
IPE COIL 202310 Brent crude No 2 business days prior to cutoff 2023/08/31 18:30 (GMT) 2023/08/30 9:00 (GMT) 2023/08/31 18:30 (GMT) 2023/08/30 9:00 (GMT)
IPE COIL 202311 Brent crude No 2 business days prior to cutoff 2023/09/29 18:30 (GMT) 2023/09/28 9:00 (GMT) 2023/09/29 18:30 (GMT) 2023/09/28 9:00 (GMT)
IPE COIL 202312 Brent crude No 2 business days prior to cutoff 2023/10/31 18:30 (GMT) 2023/10/30 9:00 (GMT) 2023/10/31 18:30 (GMT) 2023/10/30 9:00 (GMT)
IPE GOIL 202212 Gas Oil No 2 business days prior to cutoff 2022/12/12 12:00 (GMT) 2022/12/09 9:00 (GMT) 2022/12/12 12:00 (GMT) 2022/12/09 9:00 (GMT)
IPE GOIL 202301 Gas Oil No 2 business days prior to cutoff 2023/01/12 12:00 (GMT) 2023/01/11 9:00 (GMT) 2023/01/12 12:00 (GMT) 2023/01/11 9:00 (GMT)
IPE GOIL 202302 Gas Oil No 2 business days prior to cutoff 2023/02/10 12:00 (GMT) 2023/02/09 9:00 (GMT) 2023/02/10 12:00 (GMT) 2023/02/09 9:00 (GMT)
IPE GOIL 202303 Gas Oil No 2 business days prior to cutoff 2023/03/10 12:00 (GMT) 2023/03/09 9:00 (GMT) 2023/03/10 12:00 (GMT) 2023/03/09 9:00 (GMT)
IPE GOIL 202304 Gas Oil No 2 business days prior to cutoff 2023/04/12 12:00 (GMT) 2023/04/11 9:00 (GMT) 2023/04/12 12:00 (GMT) 2023/04/11 9:00 (GMT)
IPE GOIL 202305 Gas Oil No 2 business days prior to cutoff 2023/05/11 12:00 (GMT) 2023/05/10 9:00 (GMT) 2023/05/11 12:00 (GMT) 2023/05/10 9:00 (GMT)
IPE GOIL 202306 Gas Oil No 2 business days prior to cutoff 2023/06/12 12:00 (GMT) 2023/06/09 9:00 (GMT) 2023/06/12 12:00 (GMT) 2023/06/09 9:00 (GMT)
IPE GOIL 202307 Gas Oil No 2 business days prior to cutoff 2023/07/12 12:00 (GMT) 2023/07/11 9:00 (GMT) 2023/07/12 12:00 (GMT) 2023/07/11 9:00 (GMT)
IPE GOIL 202308 Gas Oil No 2 business days prior to cutoff 2023/08/10 12:00 (GMT) 2023/08/09 9:00 (GMT) 2023/08/10 12:00 (GMT) 2023/08/09 9:00 (GMT)
IPE GOIL 202309 Gas Oil No 2 business days prior to cutoff 2023/09/12 12:00 (GMT) 2023/09/11 9:00 (GMT) 2023/09/12 12:00 (GMT) 2023/09/11 9:00 (GMT)
IPE GOIL 202310 Gas Oil No 2 business days prior to cutoff 2023/10/12 12:00 (GMT) 2023/10/11 9:00 (GMT) 2023/10/12 12:00 (GMT) 2023/10/11 9:00 (GMT)
IPE GOIL 202311 Gas Oil No 2 business days prior to cutoff 2023/11/10 12:00 (GMT) 2023/11/09 9:00 (GMT) 2023/11/10 12:00 (GMT) 2023/11/09 9:00 (GMT)
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.