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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
NYSELIFFE YG 202212 MINI NY GOLD No 2 business days prior to cutoff 2022/11/29 16:00 (ET) 2022/11/28 09:30 (ET) 2022/11/29 16:00 (ET) 2022/11/28 09:30 (ET)
NYSELIFFE YI 202212 MINI NY SILVER No 2 business days prior to cutoff 2022/11/29 16:00 (ET) 2022/11/28 09:30 (ET) 2022/11/29 16:00 (ET) 2022/11/28 09:30 (ET)
NYSELIFFE ZG 202212 GOLD No 2 business days prior to cutoff 2022/11/29 16:00 (ET) 2022/11/28 09:30 (ET) 2022/11/29 16:00 (ET) 2022/11/28 09:30 (ET)
NYSELIFFE ZI 202212 SILVER No 2 business days prior to cutoff 2022/11/29 16:00 (ET) 2022/11/28 09:30 (ET) 2022/11/29 16:00 (ET) 2022/11/28 09:30 (ET)
OSE.JPN JBL 202209 Japanese Government Bonds 10 years No 2 business days prior to cutoff 2022/09/12 15:02 2022/09/09 9:00 2022/09/12 15:02 2022/09/09 9:00
OSE.JPN JBL 202212 Japanese Government Bonds 10 years No 2 business days prior to cutoff 2022/12/13 15:02 2022/12/12 9:00 2022/12/13 15:02 2022/12/12 9:00
OSE.JPN JBL 202303 Japanese Government Bonds 10 years No 2 business days prior to cutoff 2023/03/13 15:02 2023/03/10 9:00 2023/03/13 15:02 2023/03/10 9:00
SGX MUC 202209 US Dollar in offshore renmimbi mini Yes(1) 2 business days prior to cutoff 2022/09/19 11:00 (ST) 2022/09/16 7:40 (ST) 2022/09/19 11:00 (ST) 2022/09/16 7:40 (ST)
SGX MUC 202210 US Dollar in offshore renmimbi mini Yes(1) 2 business days prior to cutoff 2022/10/17 11:00 (ST) 2022/10/14 7:40 (ST) 2022/10/17 11:00 (ST) 2022/10/14 7:40 (ST)
SGX MUC 202212 US Dollar in offshore renmimbi mini Yes(1) 2 business days prior to cutoff 2022/12/19 11:00 (ST) 2022/12/16 7:40 (ST) 2022/12/19 11:00 (ST) 2022/12/16 7:40 (ST)
SGX MUC 202303 US Dollar in offshore renmimbi mini Yes(1) 2 business days prior to cutoff 2023/03/13 11:00 (ST) 2023/03/10 7:40 (ST) 2023/03/13 11:00 (ST) 2023/03/10 7:40 (ST)
SGX MUC 202306 US Dollar in offshore renmimbi mini Yes(1) 2 business days prior to cutoff 2023/06/19 11:00 (ST) 2023/06/16 7:40 (ST) 2023/06/19 11:00 (ST) 2023/06/16 7:40 (ST)
SGX MUC 202211 US Dollar in offshore renmimbi mini Yes(1) 2 business days prior to cutoff 2022/11/14 11:00 (ST) 2022/11/11 7:40 (ST) 2022/11/14 11:00 (ST) 2022/11/11 7:40 (ST)
SGX MUC 202301 US Dollar in offshore renmimbi mini Yes(1) 2 business days prior to cutoff 2023/01/16 11:00 (ST) 2023/01/13 7:40 (ST) 2023/01/16 11:00 (ST) 2023/01/13 7:40 (ST)
SGX MUC 202302 US Dollar in offshore renmimbi mini Yes(1) 2 business days prior to cutoff 2023/02/13 11:00 (ST) 2023/02/10 7:40 (ST) 2023/02/13 11:00 (ST) 2023/02/10 7:40 (ST)
SGX MUC 202304 US Dollar in offshore renmimbi mini Yes(1) 2 business days prior to cutoff 2023/04/17 11:00 (ST) 2023/04/14 7:40 (ST) 2023/04/17 11:00 (ST) 2023/04/14 7:40 (ST)
SGX MUC 202305 US Dollar in offshore renmimbi mini Yes(1) 2 business days prior to cutoff 2023/05/15 11:00 (ST) 2023/05/12 7:40 (ST) 2023/05/15 11:00 (ST) 2023/05/12 7:40 (ST)
SGX MUC 202307 US Dollar in offshore renmimbi mini Yes(1) 2 business days prior to cutoff 2023/07/17 11:00 (ST) 2023/07/14 7:40 (ST) 2023/07/17 11:00 (ST) 2023/07/14 7:40 (ST)
SGX MUC 202308 US Dollar in offshore renmimbi mini Yes(1) 2 business days prior to cutoff 2023/08/14 11:00 (ST) 2023/08/11 7:40 (ST) 2023/08/14 11:00 (ST) 2023/08/11 7:40 (ST)
SGX TF 202209 SICOM Rubber No 2 business days prior to cutoff 2022/08/31 00:00 (ST) 2022/08/30 7:55 (ST) 2022/08/31 18:00 (ST) 2022/08/30 7:55 (ST)
SGX TF 202210 SICOM Rubber No 2 business days prior to cutoff 2022/09/30 00:00 (ST) 2022/09/29 7:55 (ST) 2022/09/30 18:00 (ST) 2022/09/29 7:55 (ST)
SGX TF 202211 SICOM Rubber No 2 business days prior to cutoff 2022/10/31 00:00 (ST) 2022/10/28 7:55 (ST) 2022/10/31 18:00 (ST) 2022/10/28 7:55 (ST)
SGX TF 202212 SICOM Rubber No 2 business days prior to cutoff 2022/11/30 00:00 (ST) 2022/11/29 7:55 (ST) 2022/11/30 18:00 (ST) 2022/11/29 7:55 (ST)
SGX TF 202301 SICOM Rubber No 2 business days prior to cutoff 2022/12/30 00:00 (ST) 2022/12/29 7:55 (ST) 2022/12/30 18:00 (ST) 2022/12/29 7:55 (ST)
SGX TF 202302 SICOM Rubber No 2 business days prior to cutoff 2023/01/31 00:00 (ST) 2023/01/30 7:55 (ST) 2023/01/31 18:00 (ST) 2023/01/30 7:55 (ST)
SGX TF 202303 SICOM Rubber No 2 business days prior to cutoff 2023/02/28 00:00 (ST) 2023/02/27 7:55 (ST) 2023/02/28 18:00 (ST) 2023/02/27 7:55 (ST)
SGX TF 202304 SICOM Rubber No 2 business days prior to cutoff 2023/03/31 00:00 (ST) 2023/03/30 7:55 (ST) 2023/03/31 18:00 (ST) 2023/03/30 7:55 (ST)
SGX TF 202305 SICOM Rubber No 2 business days prior to cutoff 2023/04/28 00:00 (ST) 2023/04/27 7:55 (ST) 2023/04/28 18:00 (ST) 2023/04/27 7:55 (ST)
SGX TF 202306 SICOM Rubber No 2 business days prior to cutoff 2023/05/31 00:00 (ST) 2023/05/30 7:55 (ST) 2023/05/31 18:00 (ST) 2023/05/30 7:55 (ST)
SGX TF 202307 SICOM Rubber No 2 business days prior to cutoff 2023/06/30 00:00 (ST) 2023/06/29 7:55 (ST) 2023/06/30 18:00 (ST) 2023/06/29 7:55 (ST)
SGX TF 202308 SICOM Rubber No 2 business days prior to cutoff 2023/07/31 00:00 (ST) 2023/07/28 7:55 (ST) 2023/07/31 18:00 (ST) 2023/07/28 7:55 (ST)
SGX UC 202209 US Dollar in offshore renmimbi Yes(1) 2 business days prior to cutoff 2022/09/19 11:00 (ST) 2022/09/16 7:40 (ST) 2022/09/19 11:00 (ST) 2022/09/16 7:40 (ST)
SGX UC 202212 US Dollar in offshore renmimbi Yes(1) 2 business days prior to cutoff 2022/12/19 11:00 (ST) 2022/12/16 7:40 (ST) 2022/12/19 11:00 (ST) 2022/12/16 7:40 (ST)
SGX UC 202303 US Dollar in offshore renmimbi Yes(1) 2 business days prior to cutoff 2023/03/13 11:00 (ST) 2023/03/10 7:40 (ST) 2023/03/13 11:00 (ST) 2023/03/10 7:40 (ST)
SGX UC 202306 US Dollar in offshore renmimbi Yes(1) 2 business days prior to cutoff 2023/06/19 11:00 (ST) 2023/06/16 7:40 (ST) 2023/06/19 11:00 (ST) 2023/06/16 7:40 (ST)
SGX UC 202210 US Dollar in offshore renmimbi Yes(1) 2 business days prior to cutoff 2022/10/17 11:00 (ST) 2022/10/14 7:40 (ST) 2022/10/17 11:00 (ST) 2022/10/14 7:40 (ST)
SGX UC 202211 US Dollar in offshore renmimbi Yes(1) 2 business days prior to cutoff 2022/11/14 11:00 (ST) 2022/11/11 7:40 (ST) 2022/11/14 11:00 (ST) 2022/11/11 7:40 (ST)
SGX UC 202301 US Dollar in offshore renmimbi Yes(1) 2 business days prior to cutoff 2023/01/16 11:00 (ST) 2023/01/13 7:40 (ST) 2023/01/16 11:00 (ST) 2023/01/13 7:40 (ST)
SGX UC 202302 US Dollar in offshore renmimbi Yes(1) 2 business days prior to cutoff 2023/02/13 11:00 (ST) 2023/02/10 7:40 (ST) 2023/02/13 11:00 (ST) 2023/02/10 7:40 (ST)
SGX UC 202304 US Dollar in offshore renmimbi Yes(1) 2 business days prior to cutoff 2023/04/17 11:00 (ST) 2023/04/14 7:40 (ST) 2023/04/17 11:00 (ST) 2023/04/14 7:40 (ST)
SGX UC 202305 US Dollar in offshore renmimbi Yes(1) 2 business days prior to cutoff 2023/05/15 11:00 (ST) 2023/05/12 7:40 (ST) 2023/05/15 11:00 (ST) 2023/05/12 7:40 (ST)
SGX UC 202307 US Dollar in offshore renmimbi Yes(1) 2 business days prior to cutoff 2023/07/17 11:00 (ST) 2023/07/14 7:40 (ST) 2023/07/17 11:00 (ST) 2023/07/14 7:40 (ST)
SGX UC 202308 US Dollar in offshore renmimbi Yes(1) 2 business days prior to cutoff 2023/08/14 11:00 (ST) 2023/08/11 7:40 (ST) 2023/08/14 11:00 (ST) 2023/08/11 7:40 (ST)
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.