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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
KSE 175 202401 USD/KRW No 2 business days prior to cutoff 2024/01/15 11:30 2024/01/12 09:00 2024/01/15 11:30 2024/01/12 09:00
LMEOTC AH 202302 Aluminum No 7 business days prior to cutoff 2023/02/15 00:00 2023/02/07 9:10 2023/02/15 17:00 2023/02/07 9:10
LMEOTC AH 202303 Aluminum No 7 business days prior to cutoff 2023/03/15 00:00 2023/03/07 9:10 2023/03/15 17:00 2023/03/07 9:10
LMEOTC AH 202304 Aluminum No 7 business days prior to cutoff 2023/04/19 00:00 2023/04/11 9:10 2023/04/19 17:00 2023/04/11 9:10
LMEOTC AH 202305 Aluminum No 7 business days prior to cutoff 2023/05/17 00:00 2023/05/09 9:10 2023/05/17 17:00 2023/05/09 9:10
LMEOTC AH 202306 Aluminum No 7 business days prior to cutoff 2023/06/21 00:00 2023/06/13 9:10 2023/06/21 17:00 2023/06/13 9:10
LMEOTC AH 202307 Aluminum No 7 business days prior to cutoff 2023/07/19 00:00 2023/07/11 9:10 2023/07/19 17:00 2023/07/11 9:10
LMEOTC AH 202308 Aluminum No 7 business days prior to cutoff 2023/08/16 00:00 2023/08/08 9:10 2023/08/16 17:00 2023/08/08 9:10
LMEOTC AH 202309 Aluminum No 7 business days prior to cutoff 2023/09/20 00:00 2023/09/12 9:10 2023/09/20 17:00 2023/09/12 9:10
LMEOTC AH 202310 Aluminum No 7 business days prior to cutoff 2023/10/18 00:00 2023/10/10 9:10 2023/10/18 17:00 2023/10/10 9:10
LMEOTC AH 202311 Aluminum No 7 business days prior to cutoff 2023/11/15 00:00 2023/11/07 9:10 2023/11/15 17:00 2023/11/07 9:10
LMEOTC AH 202312 Aluminum No 7 business days prior to cutoff 2023/12/20 00:00 2023/12/12 9:10 2023/12/20 17:00 2023/12/12 9:10
LMEOTC AH 202401 Aluminum No 7 business days prior to cutoff 2024/01/17 00:00 2024/01/09 9:10 2024/01/17 17:00 2024/01/09 9:10
LMEOTC AH 202301 Aluminum No 7 business days prior to cutoff 2023/01/18 17:00 2023/01/10 9:10 2023/01/31 17:00 2023/01/23 9:10
LMEOTC CA 202302 Copper No 7 business days prior to cutoff 2023/02/15 00:00 2023/02/07 9:10 2023/02/15 17:00 2023/02/07 9:10
LMEOTC CA 202303 Copper No 7 business days prior to cutoff 2023/03/15 00:00 2023/03/07 9:10 2023/03/15 17:00 2023/03/07 9:10
LMEOTC CA 202304 Copper No 7 business days prior to cutoff 2023/04/19 00:00 2023/04/11 9:10 2023/04/19 17:00 2023/04/11 9:10
LMEOTC CA 202305 Copper No 7 business days prior to cutoff 2023/05/17 00:00 2023/05/09 9:10 2023/05/17 17:00 2023/05/09 9:10
LMEOTC CA 202306 Copper No 7 business days prior to cutoff 2023/06/21 00:00 2023/06/13 9:10 2023/06/21 17:00 2023/06/13 9:10
LMEOTC CA 202307 Copper No 7 business days prior to cutoff 2023/07/19 00:00 2023/07/11 9:10 2023/07/19 17:00 2023/07/11 9:10
LMEOTC CA 202308 Copper No 7 business days prior to cutoff 2023/08/16 00:00 2023/08/08 9:10 2023/08/16 17:00 2023/08/08 9:10
LMEOTC CA 202309 Copper No 7 business days prior to cutoff 2023/09/20 00:00 2023/09/12 9:10 2023/09/20 17:00 2023/09/12 9:10
LMEOTC CA 202310 Copper No 7 business days prior to cutoff 2023/10/18 00:00 2023/10/10 9:10 2023/10/18 17:00 2023/10/10 9:10
LMEOTC CA 202311 Copper No 7 business days prior to cutoff 2023/11/15 00:00 2023/11/07 9:10 2023/11/15 17:00 2023/11/07 9:10
LMEOTC CA 202312 Copper No 7 business days prior to cutoff 2023/12/20 00:00 2023/12/12 9:10 2023/12/20 17:00 2023/12/12 9:10
LMEOTC CA 202401 Copper No 7 business days prior to cutoff 2024/01/17 00:00 2024/01/09 9:10 2024/01/17 17:00 2024/01/09 9:10
LMEOTC CA 202301 Copper No 7 business days prior to cutoff 2023/01/18 17:00 2023/01/10 9:10 2023/01/31 17:00 2023/01/23 9:10
LMEOTC PB 202302 Lead No 7 business days prior to cutoff 2023/02/15 00:00 2023/02/07 9:10 2023/02/15 17:00 2023/02/07 9:10
LMEOTC PB 202303 Lead No 7 business days prior to cutoff 2023/03/15 00:00 2023/03/07 9:10 2023/03/15 17:00 2023/03/07 9:10
LMEOTC PB 202304 Lead No 7 business days prior to cutoff 2023/04/19 00:00 2023/04/11 9:10 2023/04/19 17:00 2023/04/11 9:10
LMEOTC PB 202305 Lead No 7 business days prior to cutoff 2023/05/17 00:00 2023/05/09 9:10 2023/05/17 17:00 2023/05/09 9:10
LMEOTC PB 202306 Lead No 7 business days prior to cutoff 2023/06/21 00:00 2023/06/13 9:10 2023/06/21 17:00 2023/06/13 9:10
LMEOTC PB 202307 Lead No 7 business days prior to cutoff 2023/07/19 00:00 2023/07/11 9:10 2023/07/19 17:00 2023/07/11 9:10
LMEOTC PB 202308 Lead No 7 business days prior to cutoff 2023/08/16 00:00 2023/08/08 9:10 2023/08/16 17:00 2023/08/08 9:10
LMEOTC PB 202309 Lead No 7 business days prior to cutoff 2023/09/20 00:00 2023/09/12 9:10 2023/09/20 17:00 2023/09/12 9:10
LMEOTC PB 202310 Lead No 7 business days prior to cutoff 2023/10/18 00:00 2023/10/10 9:10 2023/10/18 17:00 2023/10/10 9:10
LMEOTC PB 202311 Lead No 7 business days prior to cutoff 2023/11/15 00:00 2023/11/07 9:10 2023/11/15 17:00 2023/11/07 9:10
LMEOTC PB 202312 Lead No 7 business days prior to cutoff 2023/12/20 00:00 2023/12/12 9:10 2023/12/20 17:00 2023/12/12 9:10
LMEOTC PB 202401 Lead No 7 business days prior to cutoff 2024/01/17 00:00 2024/01/09 9:10 2024/01/17 17:00 2024/01/09 9:10
LMEOTC PB 202301 Lead No 7 business days prior to cutoff 2023/01/18 17:00 2023/01/10 9:10 2023/01/31 17:00 2023/01/23 9:10
LMEOTC SN 202302 Tin No 7 business days prior to cutoff 2023/02/15 00:00 2023/02/07 9:10 2023/02/15 17:00 2023/02/07 9:10
LMEOTC SN 202303 Tin No 7 business days prior to cutoff 2023/03/15 00:00 2023/03/07 9:10 2023/03/15 17:00 2023/03/07 9:10
LMEOTC SN 202304 Tin No 7 business days prior to cutoff 2023/04/19 00:00 2023/04/11 9:10 2023/04/19 17:00 2023/04/11 9:10
LMEOTC SN 202305 Tin No 7 business days prior to cutoff 2023/05/17 00:00 2023/05/09 9:10 2023/05/17 17:00 2023/05/09 9:10
LMEOTC SN 202306 Tin No 7 business days prior to cutoff 2023/06/21 00:00 2023/06/13 9:10 2023/06/21 17:00 2023/06/13 9:10
LMEOTC SN 202307 Tin No 7 business days prior to cutoff 2023/07/19 00:00 2023/07/11 9:10 2023/07/19 17:00 2023/07/11 9:10
LMEOTC SN 202308 Tin No 7 business days prior to cutoff 2023/08/16 00:00 2023/08/08 9:10 2023/08/16 17:00 2023/08/08 9:10
LMEOTC SN 202309 Tin No 7 business days prior to cutoff 2023/09/20 00:00 2023/09/12 9:10 2023/09/20 17:00 2023/09/12 9:10
LMEOTC SN 202310 Tin No 7 business days prior to cutoff 2023/10/18 00:00 2023/10/10 9:10 2023/10/18 17:00 2023/10/10 9:10
LMEOTC SN 202311 Tin No 7 business days prior to cutoff 2023/11/15 00:00 2023/11/07 9:10 2023/11/15 17:00 2023/11/07 9:10
LMEOTC SN 202312 Tin No 7 business days prior to cutoff 2023/12/20 00:00 2023/12/12 9:10 2023/12/20 17:00 2023/12/12 9:10
LMEOTC SN 202401 Tin No 7 business days prior to cutoff 2024/01/17 00:00 2024/01/09 9:10 2024/01/17 17:00 2024/01/09 9:10
LMEOTC SN 202301 Tin No 7 business days prior to cutoff 2023/01/18 17:00 2023/01/10 9:10 2023/01/30 17:00 2023/01/20 9:10
LMEOTC ZS 202302 Zinc No 7 business days prior to cutoff 2023/02/15 00:00 2023/02/07 9:10 2023/02/15 17:00 2023/02/07 9:10
LMEOTC ZS 202303 Zinc No 7 business days prior to cutoff 2023/03/15 00:00 2023/03/07 9:10 2023/03/15 17:00 2023/03/07 9:10
LMEOTC ZS 202304 Zinc No 7 business days prior to cutoff 2023/04/19 00:00 2023/04/11 9:10 2023/04/19 17:00 2023/04/11 9:10
LMEOTC ZS 202305 Zinc No 7 business days prior to cutoff 2023/05/17 00:00 2023/05/09 9:10 2023/05/17 17:00 2023/05/09 9:10
LMEOTC ZS 202306 Zinc No 7 business days prior to cutoff 2023/06/21 00:00 2023/06/13 9:10 2023/06/21 17:00 2023/06/13 9:10
LMEOTC ZS 202307 Zinc No 7 business days prior to cutoff 2023/07/19 00:00 2023/07/11 9:10 2023/07/19 17:00 2023/07/11 9:10
LMEOTC ZS 202308 Zinc No 7 business days prior to cutoff 2023/08/16 00:00 2023/08/08 9:10 2023/08/16 17:00 2023/08/08 9:10
LMEOTC ZS 202309 Zinc No 7 business days prior to cutoff 2023/09/20 00:00 2023/09/12 9:10 2023/09/20 17:00 2023/09/12 9:10
LMEOTC ZS 202310 Zinc No 7 business days prior to cutoff 2023/10/18 00:00 2023/10/10 9:10 2023/10/18 17:00 2023/10/10 9:10
LMEOTC ZS 202311 Zinc No 7 business days prior to cutoff 2023/11/15 00:00 2023/11/07 9:10 2023/11/15 17:00 2023/11/07 9:10
LMEOTC ZS 202312 Zinc No 7 business days prior to cutoff 2023/12/20 00:00 2023/12/12 9:10 2023/12/20 17:00 2023/12/12 9:10
LMEOTC ZS 202401 Zinc No 7 business days prior to cutoff 2024/01/17 00:00 2024/01/09 9:10 2024/01/17 17:00 2024/01/09 9:10
LMEOTC ZS 202301 Zinc No 7 business days prior to cutoff 2023/01/18 17:00 2023/01/10 9:10 2023/01/31 17:00 2023/01/23 9:10
MATIF EBM 202303 Milling Wheat No 2 business days prior to cutoff 2023/03/03 17:30 (CET) 2023/03/02 10:45 (CET) 2023/03/03 17:30 (CET) 2023/03/02 10:45 (CET)
MATIF EBM 202305 Milling Wheat No 2 business days prior to cutoff 2023/05/03 17:30 (CET) 2023/05/02 10:45 (CET) 2023/05/03 17:30 (CET) 2023/05/02 10:45 (CET)
MATIF EBM 202309 Milling Wheat No 2 business days prior to cutoff 2023/09/04 17:30 (CET) 2023/09/01 10:45 (CET) 2023/09/04 17:30 (CET) 2023/09/01 10:45 (CET)
MATIF EBM 202312 Milling Wheat No 2 business days prior to cutoff 2023/12/04 17:30 (CET) 2023/12/01 10:45 (CET) 2023/12/04 17:30 (CET) 2023/12/01 10:45 (CET)
MATIF ECO 202302 Rapeseed No 2 business days prior to cutoff 2023/01/31 17:30 (CET) 2023/01/30 10:45 (CET) 2023/01/31 17:30 (CET) 2023/01/30 10:45 (CET)
MATIF ECO 202305 Rapeseed No 2 business days prior to cutoff 2023/04/28 17:30 (CET) 2023/04/27 10:45 (CET) 2023/04/28 17:30 (CET) 2023/04/27 10:45 (CET)
MATIF ECO 202308 Rapeseed No 2 business days prior to cutoff 2023/07/31 17:30 (CET) 2023/07/28 10:45 (CET) 2023/07/31 17:30 (CET) 2023/07/28 10:45 (CET)
MATIF ECO 202311 Rapeseed No 2 business days prior to cutoff 2023/10/31 17:30 (CET) 2023/10/30 10:45 (CET) 2023/11/01 17:30 (CET) 2023/10/31 10:45 (CET)
MATIF EMA 202303 Corn No 2 business days prior to cutoff 2023/02/27 17:30 (CET) 2023/02/24 10:45 (CET) 2023/03/06 17:30 (CET) 2023/03/03 10:45 (CET)
MATIF EMA 202306 Corn No 2 business days prior to cutoff 2023/05/29 17:30 (CET) 2023/05/26 10:45 (CET) 2023/06/05 17:30 (CET) 2023/06/02 10:45 (CET)
MATIF EMA 202308 Corn No 2 business days prior to cutoff 2023/07/31 17:30 (CET) 2023/07/28 10:45 (CET) 2023/08/07 17:30 (CET) 2023/08/04 10:45 (CET)
MATIF EMA 202311 Corn No 2 business days prior to cutoff 2023/10/30 17:30 (CET) 2023/10/27 10:45 (CET) 2023/11/06 17:30 (CET) 2023/11/03 10:45 (CET)
MEXDER DA 202401 Dollar FX No 2 business days prior to cutoff 2024/01/15 14:00 (CDT) 2024/01/12 7:30 (CDT) 2024/01/15 14:00 (CDT) 2024/01/12 7:30 (CDT)
MEXDER DA 202307 Dollar FX No 2 business days prior to cutoff 2023/07/17 14:00 (CDT) 2023/07/14 7:30 (CDT) 2023/07/17 14:00 (CDT) 2023/07/14 7:30 (CDT)
MEXDER DA 202302 Dollar FX No 2 business days prior to cutoff 2023/02/13 14:00 (CDT) 2023/02/10 7:30 (CDT) 2023/02/13 14:00 (CDT) 2023/02/10 7:30 (CDT)
MEXDER DA 202303 Dollar FX No 2 business days prior to cutoff 2023/03/13 14:00 (CDT) 2023/03/10 7:30 (CDT) 2023/03/13 14:00 (CDT) 2023/03/10 7:30 (CDT)
MEXDER DA 202304 Dollar FX No 2 business days prior to cutoff 2023/04/17 14:00 (CDT) 2023/04/14 7:30 (CDT) 2023/04/17 14:00 (CDT) 2023/04/14 7:30 (CDT)
MEXDER DA 202305 Dollar FX No 2 business days prior to cutoff 2023/05/15 14:00 (CDT) 2023/05/12 7:30 (CDT) 2023/05/15 14:00 (CDT) 2023/05/12 7:30 (CDT)
MEXDER DA 202306 Dollar FX No 2 business days prior to cutoff 2023/06/19 14:00 (CDT) 2023/06/16 7:30 (CDT) 2023/06/19 14:00 (CDT) 2023/06/16 7:30 (CDT)
MEXDER DA 202308 Dollar FX No 2 business days prior to cutoff 2023/08/14 14:00 (CDT) 2023/08/11 7:30 (CDT) 2023/08/14 14:00 (CDT) 2023/08/11 7:30 (CDT)
MEXDER DA 202309 Dollar FX No 2 business days prior to cutoff 2023/09/18 14:00 (CDT) 2023/09/15 7:30 (CDT) 2023/09/18 14:00 (CDT) 2023/09/15 7:30 (CDT)
MEXDER DA 202310 Dollar FX No 2 business days prior to cutoff 2023/10/16 14:00 (CDT) 2023/10/13 7:30 (CDT) 2023/10/16 14:00 (CDT) 2023/10/13 7:30 (CDT)
MEXDER DA 202311 Dollar FX No 2 business days prior to cutoff 2023/11/13 14:00 (CDT) 2023/11/10 7:30 (CDT) 2023/11/13 14:00 (CDT) 2023/11/10 7:30 (CDT)
MEXDER DA 202312 Dollar FX No 2 business days prior to cutoff 2023/12/18 14:00 (CDT) 2023/12/15 7:30 (CDT) 2023/12/18 14:00 (CDT) 2023/12/15 7:30 (CDT)
NYBOT CC 202303 COCOA No 2 business days prior to cutoff 2023/02/21 13:30 (ET) 2023/02/17 8:00 (ET) 2023/02/21 13:30 (ET) 2023/02/17 8:00 (ET)
NYBOT CC 202305 COCOA No 2 business days prior to cutoff 2023/04/21 13:30 (ET) 2023/04/20 8:00 (ET) 2023/04/21 13:30 (ET) 2023/04/20 8:00 (ET)
NYBOT CC 202307 COCOA No 2 business days prior to cutoff 2023/06/23 13:30 (ET) 2023/06/22 8:00 (ET) 2023/06/23 13:30 (ET) 2023/06/22 8:00 (ET)
NYBOT CC 202309 COCOA No 2 business days prior to cutoff 2023/08/24 13:30 (ET) 2023/08/23 8:00 (ET) 2023/08/24 13:30 (ET) 2023/08/23 8:00 (ET)
NYBOT CC 202312 COCOA No 2 business days prior to cutoff 2023/11/22 13:30 (ET) 2023/11/21 8:00 (ET) 2023/11/22 13:30 (ET) 2023/11/21 8:00 (ET)
NYBOT CT 202303 COTTON No 2 business days prior to cutoff 2023/02/21 14:20 (ET) 2023/02/17 8:00 (ET) 2023/02/21 14:20 (ET) 2023/02/17 8:00 (ET)
NYBOT CT 202305 COTTON No 2 business days prior to cutoff 2023/04/21 14:20 (ET) 2023/04/20 8:00 (ET) 2023/04/21 14:20 (ET) 2023/04/20 8:00 (ET)
NYBOT CT 202307 COTTON No 2 business days prior to cutoff 2023/06/23 14:20 (ET) 2023/06/22 8:00 (ET) 2023/06/23 14:20 (ET) 2023/06/22 8:00 (ET)
NYBOT CT 202310 COTTON No 2 business days prior to cutoff 2023/09/22 14:20 (ET) 2023/09/21 8:00 (ET) 2023/09/22 14:20 (ET) 2023/09/21 8:00 (ET)
NYBOT CT 202312 COTTON No 2 business days prior to cutoff 2023/11/22 14:20 (ET) 2023/11/21 8:00 (ET) 2023/11/22 14:20 (ET) 2023/11/21 8:00 (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.