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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
IPE RBOB 202207 NY RBOB gasoline No 2 business days prior to cutoff 2022/06/29 19:00 (GMT) 2022/06/28 9:00 (GMT) 2022/06/29 19:00 (GMT) 2022/06/28 9:00 (GMT)
IPE RBOB 202206 NY RBOB gasoline No 2 business days prior to cutoff 2022/05/27 19:00 (GMT) 2022/05/26 9:00 (GMT) 2022/05/27 19:00 (GMT) 2022/05/26 9:00 (GMT)
IPE RBOB 202211 NY RBOB gasoline No 2 business days prior to cutoff 2022/10/28 19:00 (GMT) 2022/10/27 9:00 (GMT) 2022/10/28 19:00 (GMT) 2022/10/27 9:00 (GMT)
IPE RBOB 202210 NY RBOB gasoline No 2 business days prior to cutoff 2022/09/29 19:00 (GMT) 2022/09/28 9:00 (GMT) 2022/09/29 19:00 (GMT) 2022/09/28 9:00 (GMT)
IPE RBOB 202209 NY RBOB gasoline No 2 business days prior to cutoff 2022/08/30 19:00 (GMT) 2022/08/29 9:00 (GMT) 2022/08/30 19:00 (GMT) 2022/08/29 9:00 (GMT)
IPE RBOB 202208 NY RBOB gasoline No 2 business days prior to cutoff 2022/07/28 19:00 (GMT) 2022/07/27 9:00 (GMT) 2022/07/28 19:00 (GMT) 2022/07/27 9:00 (GMT)
IPE RBOB 202205 NY RBOB gasoline No 2 business days prior to cutoff 2022/04/28 19:00 (GMT) 2022/04/27 9:00 (GMT) 2022/04/28 19:00 (GMT) 2022/04/27 9:00 (GMT)
IPE RBOB 202204 NY RBOB gasoline No 2 business days prior to cutoff 2022/03/30 19:00 (GMT) 2022/03/29 9:00 (GMT) 2022/03/30 19:00 (GMT) 2022/03/29 9:00 (GMT)
IPE RBOB 202203 NY RBOB gasoline No 2 business days prior to cutoff 2022/02/25 19:00 (GMT) 2022/02/24 9:00 (GMT) 2022/02/25 19:00 (GMT) 2022/02/24 9:00 (GMT)
IPE RBOB 202202 NY RBOB gasoline No 2 business days prior to cutoff 2022/01/28 19:00 (GMT) 2022/01/27 9:00 (GMT) 2022/01/28 19:00 (GMT) 2022/01/27 9:00 (GMT)
IPE WTI 202212 Light WTI Crude No 2 business days prior to cutoff 2022/11/18 19:00 (GMT) 2022/11/17 9:00 (GMT) 2022/11/18 19:00 (GMT) 2022/11/17 9:00 (GMT)
IPE WTI 202206 Light WTI Crude No 2 business days prior to cutoff 2022/05/19 19:00 (GMT) 2022/05/18 9:00 (GMT) 2022/05/19 19:00 (GMT) 2022/05/18 9:00 (GMT)
IPE WTI 202202 Light WTI Crude No 2 business days prior to cutoff 2022/01/19 19:00 (GMT) 2022/01/18 9:00 (GMT) 2022/01/19 19:00 (GMT) 2022/01/18 9:00 (GMT)
IPE WTI 202201 Light WTI Crude No 2 business days prior to cutoff 2021/12/17 19:00 (GMT) 2021/12/16 9:00 (GMT) 2021/12/17 19:00 (GMT) 2021/12/16 9:00 (GMT)
IPE WTI 202203 Light WTI Crude No 2 business days prior to cutoff 2022/02/18 19:00 (GMT) 2022/02/17 9:00 (GMT) 2022/02/18 19:00 (GMT) 2022/02/17 9:00 (GMT)
IPE WTI 202204 Light WTI Crude No 2 business days prior to cutoff 2022/03/21 19:00 (GMT) 2022/03/18 9:00 (GMT) 2022/03/21 19:00 (GMT) 2022/03/18 9:00 (GMT)
IPE WTI 202205 Light WTI Crude No 2 business days prior to cutoff 2022/04/19 19:00 (GMT) 2022/04/18 9:00 (GMT) 2022/04/19 19:00 (GMT) 2022/04/18 9:00 (GMT)
IPE WTI 202207 Light WTI Crude No 2 business days prior to cutoff 2022/06/20 19:00 (GMT) 2022/06/17 9:00 (GMT) 2022/06/20 19:00 (GMT) 2022/06/17 9:00 (GMT)
IPE WTI 202208 Light WTI Crude No 2 business days prior to cutoff 2022/07/19 19:00 (GMT) 2022/07/18 9:00 (GMT) 2022/07/19 19:00 (GMT) 2022/07/18 9:00 (GMT)
IPE WTI 202209 Light WTI Crude No 2 business days prior to cutoff 2022/08/19 19:00 (GMT) 2022/08/18 9:00 (GMT) 2022/08/19 19:00 (GMT) 2022/08/18 9:00 (GMT)
IPE WTI 202210 Light WTI Crude No 2 business days prior to cutoff 2022/09/19 19:00 (GMT) 2022/09/16 9:00 (GMT) 2022/09/19 19:00 (GMT) 2022/09/16 9:00 (GMT)
IPE WTI 202211 Light WTI Crude No 2 business days prior to cutoff 2022/10/19 19:00 (GMT) 2022/10/18 9:00 (GMT) 2022/10/19 19:00 (GMT) 2022/10/18 9:00 (GMT)
KSE 175 202112 USD/KRW No 2 business days prior to cutoff 2021/12/20 11:30 2021/12/17 09:00 2021/12/20 11:30 2021/12/17 09:00
KSE 175 202203 USD/KRW No 2 business days prior to cutoff 2022/03/21 11:30 2022/03/18 09:00 2022/03/21 11:30 2022/03/18 09:00
KSE 175 202206 USD/KRW No 2 business days prior to cutoff 2022/06/20 11:30 2022/06/17 09:00 2022/06/20 11:30 2022/06/17 09:00
KSE 175 202209 USD/KRW No 2 business days prior to cutoff 2022/09/19 11:30 2022/09/16 09:00 2022/09/19 11:30 2022/09/16 09:00
KSE 175 202201 USD/KRW No 2 business days prior to cutoff 2022/01/17 11:30 2022/01/14 09:00 2022/01/17 11:30 2022/01/14 09:00
KSE 175 202202 USD/KRW No 2 business days prior to cutoff 2022/02/21 11:30 2022/02/18 09:00 2022/02/21 11:30 2022/02/18 09:00
KSE 175 202204 USD/KRW No 2 business days prior to cutoff 2022/04/18 11:30 2022/04/15 09:00 2022/04/18 11:30 2022/04/15 09:00
KSE 175 202205 USD/KRW No 2 business days prior to cutoff 2022/05/16 11:30 2022/05/13 09:00 2022/05/16 11:30 2022/05/13 09:00
KSE 175 202207 USD/KRW No 2 business days prior to cutoff 2022/07/18 11:30 2022/07/15 09:00 2022/07/18 11:30 2022/07/15 09:00
KSE 175 202208 USD/KRW No 2 business days prior to cutoff 2022/08/12 11:30 2022/08/11 09:00 2022/08/12 11:30 2022/08/11 09:00
KSE 175 202210 USD/KRW No 2 business days prior to cutoff 2022/10/17 11:30 2022/10/14 09:00 2022/10/17 11:30 2022/10/14 09:00
KSE 175 202211 USD/KRW No 2 business days prior to cutoff 2022/11/21 11:30 2022/11/18 09:00 2022/11/21 11:30 2022/11/18 09:00
LMEOTC AH 202112 Aluminum No 7 business days prior to cutoff 2021/12/15 00:00 2021/12/07 9:10 2021/12/15 17:00 2021/12/07 9:10
LMEOTC AH 202201 Aluminum No 7 business days prior to cutoff 2022/01/19 00:00 2022/01/11 9:10 2022/01/19 17:00 2022/01/11 9:10
LMEOTC AH 202202 Aluminum No 7 business days prior to cutoff 2022/02/16 00:00 2022/02/08 9:10 2022/02/16 17:00 2022/02/08 9:10
LMEOTC AH 202203 Aluminum No 7 business days prior to cutoff 2022/03/16 00:00 2022/03/08 9:10 2022/03/16 17:00 2022/03/08 9:10
LMEOTC AH 202204 Aluminum No 7 business days prior to cutoff 2022/04/20 00:00 2022/04/12 9:10 2022/04/20 17:00 2022/04/12 9:10
LMEOTC AH 202205 Aluminum No 7 business days prior to cutoff 2022/05/18 00:00 2022/05/10 9:10 2022/05/18 17:00 2022/05/10 9:10
LMEOTC AH 202206 Aluminum No 7 business days prior to cutoff 2022/06/15 00:00 2022/06/07 9:10 2022/06/15 17:00 2022/06/07 9:10
LMEOTC AH 202207 Aluminum No 7 business days prior to cutoff 2022/07/20 00:00 2022/07/12 9:10 2022/07/20 17:00 2022/07/12 9:10
LMEOTC AH 202208 Aluminum No 7 business days prior to cutoff 2022/08/17 00:00 2022/08/09 9:10 2022/08/17 17:00 2022/08/09 9:10
LMEOTC AH 202209 Aluminum No 7 business days prior to cutoff 2022/09/21 00:00 2022/09/13 9:10 2022/09/21 17:00 2022/09/13 9:10
LMEOTC AH 202210 Aluminum No 7 business days prior to cutoff 2022/10/19 00:00 2022/10/11 9:10 2022/10/19 17:00 2022/10/11 9:10
LMEOTC AH 202211 Aluminum No 7 business days prior to cutoff 2022/11/16 00:00 2022/11/08 9:10 2022/11/16 17:00 2022/11/08 9:10
LMEOTC CA 202112 Copper No 7 business days prior to cutoff 2021/12/15 00:00 2021/12/07 9:10 2021/12/15 17:00 2021/12/07 9:10
LMEOTC CA 202201 Copper No 7 business days prior to cutoff 2022/01/19 00:00 2022/01/11 9:10 2022/01/19 17:00 2022/01/11 9:10
LMEOTC CA 202202 Copper No 7 business days prior to cutoff 2022/02/16 00:00 2022/02/08 9:10 2022/02/16 17:00 2022/02/08 9:10
LMEOTC CA 202203 Copper No 7 business days prior to cutoff 2022/03/16 00:00 2022/03/08 9:10 2022/03/16 17:00 2022/03/08 9:10
LMEOTC CA 202204 Copper No 7 business days prior to cutoff 2022/04/20 00:00 2022/04/12 9:10 2022/04/20 17:00 2022/04/12 9:10
LMEOTC CA 202205 Copper No 7 business days prior to cutoff 2022/05/18 00:00 2022/05/10 9:10 2022/05/18 17:00 2022/05/10 9:10
LMEOTC CA 202206 Copper No 7 business days prior to cutoff 2022/06/15 00:00 2022/06/07 9:10 2022/06/15 17:00 2022/06/07 9:10
LMEOTC CA 202207 Copper No 7 business days prior to cutoff 2022/07/20 00:00 2022/07/12 9:10 2022/07/20 17:00 2022/07/12 9:10
LMEOTC CA 202208 Copper No 7 business days prior to cutoff 2022/08/17 00:00 2022/08/09 9:10 2022/08/17 17:00 2022/08/09 9:10
LMEOTC CA 202209 Copper No 7 business days prior to cutoff 2022/09/21 00:00 2022/09/13 9:10 2022/09/21 17:00 2022/09/13 9:10
LMEOTC CA 202210 Copper No 7 business days prior to cutoff 2022/10/19 00:00 2022/10/11 9:10 2022/10/19 17:00 2022/10/11 9:10
LMEOTC CA 202211 Copper No 7 business days prior to cutoff 2022/11/16 00:00 2022/11/08 9:10 2022/11/16 17:00 2022/11/08 9:10
LMEOTC NI 202112 Nickel No 7 business days prior to cutoff 2021/12/15 00:00 2021/12/07 9:10 2021/12/15 17:00 2021/12/07 9:10
LMEOTC NI 202201 Nickel No 7 business days prior to cutoff 2022/01/19 00:00 2022/01/11 9:10 2022/01/19 17:00 2022/01/11 9:10
LMEOTC NI 202202 Nickel No 7 business days prior to cutoff 2022/02/16 00:00 2022/02/08 9:10 2022/02/16 17:00 2022/02/08 9:10
LMEOTC NI 202203 Nickel No 7 business days prior to cutoff 2022/03/16 00:00 2022/03/08 9:10 2022/03/16 17:00 2022/03/08 9:10
LMEOTC NI 202204 Nickel No 7 business days prior to cutoff 2022/04/20 00:00 2022/04/12 9:10 2022/04/20 17:00 2022/04/12 9:10
LMEOTC NI 202205 Nickel No 7 business days prior to cutoff 2022/05/18 00:00 2022/05/10 9:10 2022/05/18 17:00 2022/05/10 9:10
LMEOTC NI 202206 Nickel No 7 business days prior to cutoff 2022/06/15 00:00 2022/06/07 9:10 2022/06/15 17:00 2022/06/07 9:10
LMEOTC NI 202207 Nickel No 7 business days prior to cutoff 2022/07/20 00:00 2022/07/12 9:10 2022/07/20 17:00 2022/07/12 9:10
LMEOTC NI 202208 Nickel No 7 business days prior to cutoff 2022/08/17 00:00 2022/08/09 9:10 2022/08/17 17:00 2022/08/09 9:10
LMEOTC NI 202209 Nickel No 7 business days prior to cutoff 2022/09/21 00:00 2022/09/13 9:10 2022/09/21 17:00 2022/09/13 9:10
LMEOTC NI 202210 Nickel No 7 business days prior to cutoff 2022/10/19 00:00 2022/10/11 9:10 2022/10/19 17:00 2022/10/11 9:10
LMEOTC NI 202211 Nickel No 7 business days prior to cutoff 2022/11/16 00:00 2022/11/08 9:10 2022/11/16 17:00 2022/11/08 9:10
LMEOTC PB 202112 Lead No 7 business days prior to cutoff 2021/12/15 00:00 2021/12/07 9:10 2021/12/15 17:00 2021/12/07 9:10
LMEOTC PB 202201 Lead No 7 business days prior to cutoff 2022/01/19 00:00 2022/01/11 9:10 2022/01/19 17:00 2022/01/11 9:10
LMEOTC PB 202202 Lead No 7 business days prior to cutoff 2022/02/16 00:00 2022/02/08 9:10 2022/02/16 17:00 2022/02/08 9:10
LMEOTC PB 202203 Lead No 7 business days prior to cutoff 2022/03/16 00:00 2022/03/08 9:10 2022/03/16 17:00 2022/03/08 9:10
LMEOTC PB 202204 Lead No 7 business days prior to cutoff 2022/04/20 00:00 2022/04/12 9:10 2022/04/20 17:00 2022/04/12 9:10
LMEOTC PB 202205 Lead No 7 business days prior to cutoff 2022/05/18 00:00 2022/05/10 9:10 2022/05/18 17:00 2022/05/10 9:10
LMEOTC PB 202206 Lead No 7 business days prior to cutoff 2022/06/15 00:00 2022/06/07 9:10 2022/06/15 17:00 2022/06/07 9:10
LMEOTC PB 202207 Lead No 7 business days prior to cutoff 2022/07/20 00:00 2022/07/12 9:10 2022/07/20 17:00 2022/07/12 9:10
LMEOTC PB 202208 Lead No 7 business days prior to cutoff 2022/08/17 00:00 2022/08/09 9:10 2022/08/17 17:00 2022/08/09 9:10
LMEOTC PB 202209 Lead No 7 business days prior to cutoff 2022/09/21 00:00 2022/09/13 9:10 2022/09/21 17:00 2022/09/13 9:10
LMEOTC PB 202210 Lead No 7 business days prior to cutoff 2022/10/19 00:00 2022/10/11 9:10 2022/10/19 17:00 2022/10/11 9:10
LMEOTC PB 202211 Lead No 7 business days prior to cutoff 2022/11/16 00:00 2022/11/08 9:10 2022/11/16 17:00 2022/11/08 9:10
LMEOTC SN 202112 Tin No 7 business days prior to cutoff 2021/12/15 00:00 2021/12/07 9:10 2021/12/15 17:00 2021/12/07 9:10
LMEOTC SN 202201 Tin No 7 business days prior to cutoff 2022/01/19 00:00 2022/01/11 9:10 2022/01/19 17:00 2022/01/11 9:10
LMEOTC SN 202202 Tin No 7 business days prior to cutoff 2022/02/16 00:00 2022/02/08 9:10 2022/02/16 17:00 2022/02/08 9:10
LMEOTC SN 202203 Tin No 7 business days prior to cutoff 2022/03/16 00:00 2022/03/08 9:10 2022/03/16 17:00 2022/03/08 9:10
LMEOTC SN 202204 Tin No 7 business days prior to cutoff 2022/04/20 00:00 2022/04/12 9:10 2022/04/20 17:00 2022/04/12 9:10
LMEOTC SN 202205 Tin No 7 business days prior to cutoff 2022/05/18 00:00 2022/05/10 9:10 2022/05/18 17:00 2022/05/10 9:10
LMEOTC SN 202206 Tin No 7 business days prior to cutoff 2022/06/15 00:00 2022/06/07 9:10 2022/06/15 17:00 2022/06/07 9:10
LMEOTC SN 202207 Tin No 7 business days prior to cutoff 2022/07/20 00:00 2022/07/12 9:10 2022/07/20 17:00 2022/07/12 9:10
LMEOTC SN 202208 Tin No 7 business days prior to cutoff 2022/08/17 00:00 2022/08/09 9:10 2022/08/17 17:00 2022/08/09 9:10
LMEOTC SN 202209 Tin No 7 business days prior to cutoff 2022/09/21 00:00 2022/09/13 9:10 2022/09/21 17:00 2022/09/13 9:10
LMEOTC SN 202210 Tin No 7 business days prior to cutoff 2022/10/19 00:00 2022/10/11 9:10 2022/10/19 17:00 2022/10/11 9:10
LMEOTC SN 202211 Tin No 7 business days prior to cutoff 2022/11/16 00:00 2022/11/08 9:10 2022/11/16 17:00 2022/11/08 9:10
LMEOTC ZS 202112 Zinc No 7 business days prior to cutoff 2021/12/15 00:00 2021/12/07 9:10 2021/12/15 17:00 2021/12/07 9:10
LMEOTC ZS 202201 Zinc No 7 business days prior to cutoff 2022/01/19 00:00 2022/01/11 9:10 2022/01/19 17:00 2022/01/11 9:10
LMEOTC ZS 202202 Zinc No 7 business days prior to cutoff 2022/02/16 00:00 2022/02/08 9:10 2022/02/16 17:00 2022/02/08 9:10
LMEOTC ZS 202203 Zinc No 7 business days prior to cutoff 2022/03/16 00:00 2022/03/08 9:10 2022/03/16 17:00 2022/03/08 9:10
LMEOTC ZS 202204 Zinc No 7 business days prior to cutoff 2022/04/20 00:00 2022/04/12 9:10 2022/04/20 17:00 2022/04/12 9:10
LMEOTC ZS 202205 Zinc No 7 business days prior to cutoff 2022/05/18 00:00 2022/05/10 9:10 2022/05/18 17:00 2022/05/10 9:10
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.