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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
LMEOTC SN 202301 Tin No 7 business days prior to cutoff 2023/01/18 00:00 2023/01/10 9:10 2023/01/18 17:00 2023/01/10 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 ZS 202210 Zinc 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 ZS 202211 Zinc 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 202212 Zinc No 7 business days prior to cutoff 2022/12/21 00:00 2022/12/13 9:10 2022/12/21 17:00 2022/12/13 9:10
LMEOTC ZS 202301 Zinc No 7 business days prior to cutoff 2023/01/18 00:00 2023/01/10 9:10 2023/01/18 17:00 2023/01/10 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
MATIF EBM 202212 Milling Wheat No 2 business days prior to cutoff 2022/12/05 17:30 (CET) 2022/12/02 10:45 (CET) 2022/12/05 17:30 (CET) 2022/12/02 10:45 (CET)
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 ECO 202211 Rapeseed No 2 business days prior to cutoff 2022/10/31 17:30 (CET) 2022/10/28 10:45 (CET) 2022/10/31 17:30 (CET) 2022/10/28 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 EMA 202211 Corn No 2 business days prior to cutoff 2022/10/31 17:30 (CET) 2022/10/28 10:45 (CET) 2022/11/07 17:30 (CET) 2022/11/04 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)
MEXDER DA 202301 Dollar FX No 2 business days prior to cutoff 2023/01/16 14:00 (CDT) 2023/01/13 7:30 (CDT) 2023/01/16 14:00 (CDT) 2023/01/13 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 202210 Dollar FX No 2 business days prior to cutoff 2022/10/17 14:00 (CDT) 2022/10/14 7:30 (CDT) 2022/10/17 14:00 (CDT) 2022/10/14 7:30 (CDT)
MEXDER DA 202211 Dollar FX No 2 business days prior to cutoff 2022/11/14 14:00 (CDT) 2022/11/11 7:30 (CDT) 2022/11/14 14:00 (CDT) 2022/11/11 7:30 (CDT)
MEXDER DA 202212 Dollar FX No 2 business days prior to cutoff 2022/12/19 14:00 (CDT) 2022/12/16 7:30 (CDT) 2022/12/19 14:00 (CDT) 2022/12/16 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)
NYBOT CC 202212 COCOA No 2 business days prior to cutoff 2022/11/22 13:30 (ET) 2022/11/21 8:00 (ET) 2022/11/22 13:30 (ET) 2022/11/21 8:00 (ET)
NYBOT CC 202303 COCOA No 2 business days prior to cutoff 2023/02/21 13:30 (ET) 2023/02/20 8:00 (ET) 2023/02/21 13:30 (ET) 2023/02/20 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 CT 202210 COTTON No 2 business days prior to cutoff 2022/09/23 14:20 (ET) 2022/09/22 8:00 (ET) 2022/09/23 14:20 (ET) 2022/09/22 8:00 (ET)
NYBOT CT 202212 COTTON No 2 business days prior to cutoff 2022/11/22 14:20 (ET) 2022/11/21 8:00 (ET) 2022/11/22 14:20 (ET) 2022/11/21 8:00 (ET)
NYBOT CT 202303 COTTON No 2 business days prior to cutoff 2023/02/21 14:20 (ET) 2023/02/20 8:00 (ET) 2023/02/21 14:20 (ET) 2023/02/20 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 DX 202212 US DOLLAR INDEX No 2 business days prior to cutoff 2022/12/19 10:16 (ET) 2022/12/16 8:00 (ET) 2022/12/19 10:16 (ET) 2022/12/16 8:00 (ET)
NYBOT DX 202303 US DOLLAR INDEX No 2 business days prior to cutoff 2023/03/13 10:16 (ET) 2023/03/10 8:00 (ET) 2023/03/13 10:16 (ET) 2023/03/10 8:00 (ET)
NYBOT DX 202306 US DOLLAR INDEX No 2 business days prior to cutoff 2023/06/16 10:16 (ET) 2023/06/15 8:00 (ET) 2023/06/16 10:16 (ET) 2023/06/15 8:00 (ET)
NYBOT DX 202309 US DOLLAR INDEX No 2 business days prior to cutoff 2023/09/18 10:16 (ET) 2023/09/15 8:00 (ET) 2023/09/18 10:16 (ET) 2023/09/15 8:00 (ET)
NYBOT KC 202212 COFFEE C No 2 business days prior to cutoff 2022/11/18 13:30 (ET) 2022/11/17 8:00 (ET) 2022/11/18 13:30 (ET) 2022/11/17 8:00 (ET)
NYBOT KC 202303 COFFEE C No 2 business days prior to cutoff 2023/02/16 13:30 (ET) 2023/02/15 8:00 (ET) 2023/02/16 13:30 (ET) 2023/02/15 8:00 (ET)
NYBOT KC 202305 COFFEE C No 2 business days prior to cutoff 2023/04/19 13:30 (ET) 2023/04/18 8:00 (ET) 2023/04/19 13:30 (ET) 2023/04/18 8:00 (ET)
NYBOT KC 202307 COFFEE C No 2 business days prior to cutoff 2023/06/21 13:30 (ET) 2023/06/20 8:00 (ET) 2023/06/21 13:30 (ET) 2023/06/20 8:00 (ET)
NYBOT KC 202309 COFFEE C No 2 business days prior to cutoff 2023/08/22 13:30 (ET) 2023/08/21 8:00 (ET) 2023/08/22 13:30 (ET) 2023/08/21 8:00 (ET)
NYBOT OJ 202211 FL ORANGE JUICE No 2 business days prior to cutoff 2022/10/31 14:00 (ET) 2022/10/28 8:00 (ET) 2022/10/31 14:00 (ET) 2022/10/28 8:00 (ET)
NYBOT OJ 202301 FL ORANGE JUICE No 2 business days prior to cutoff 2022/12/30 14:00 (ET) 2022/12/29 8:00 (ET) 2022/12/30 14:00 (ET) 2022/12/29 8:00 (ET)
NYBOT OJ 202303 FL ORANGE JUICE No 2 business days prior to cutoff 2023/02/28 14:00 (ET) 2023/02/27 8:00 (ET) 2023/02/28 14:00 (ET) 2023/02/27 8:00 (ET)
NYBOT OJ 202305 FL ORANGE JUICE No 2 business days prior to cutoff 2023/04/28 14:00 (ET) 2023/04/27 8:00 (ET) 2023/04/28 14:00 (ET) 2023/04/27 8:00 (ET)
NYBOT OJ 202307 FL ORANGE JUICE No 2 business days prior to cutoff 2023/06/30 14:00 (ET) 2023/06/29 8:00 (ET) 2023/06/30 14:00 (ET) 2023/06/29 8:00 (ET)
NYBOT OJ 202309 FL ORANGE JUICE No 2 business days prior to cutoff 2023/08/31 14:00 (ET) 2023/08/30 8:00 (ET) 2023/08/31 14:00 (ET) 2023/08/30 8:00 (ET)
NYBOT RS 202211 CANOLA No 2 business days prior to cutoff 2022/10/31 14:20 (ET) 2022/10/28 09:30 (ET) 2022/10/31 14:20 (ET) 2022/10/28 09:30 (ET)
NYBOT RS 202301 CANOLA No 2 business days prior to cutoff 2022/12/30 14:20 (ET) 2022/12/29 09:30 (ET) 2022/12/30 14:20 (ET) 2022/12/29 09:30 (ET)
NYBOT RS 202303 CANOLA No 2 business days prior to cutoff 2023/02/28 14:20 (ET) 2023/02/27 09:30 (ET) 2023/02/28 14:20 (ET) 2023/02/27 09:30 (ET)
NYBOT RS 202305 CANOLA No 2 business days prior to cutoff 2023/04/28 14:20 (ET) 2023/04/27 09:30 (ET) 2023/04/28 14:20 (ET) 2023/04/27 09:30 (ET)
NYBOT RS 202307 CANOLA No 2 business days prior to cutoff 2023/06/30 14:20 (ET) 2023/06/29 09:30 (ET) 2023/06/30 14:20 (ET) 2023/06/29 09:30 (ET)
NYBOT SB 202303 SUGAR #11 WORLD No 2 business days prior to cutoff 2023/02/28 12:55 (ET) 2023/02/27 8:10 (ET) 2023/02/28 12:55 (ET) 2023/02/27 8:10 (ET)
NYBOT SB 202305 SUGAR #11 WORLD No 2 business days prior to cutoff 2023/04/28 12:55 (ET) 2023/04/27 8:10 (ET) 2023/04/28 12:55 (ET) 2023/04/27 8:10 (ET)
NYBOT SB 202307 SUGAR #11 WORLD No 2 business days prior to cutoff 2023/06/30 12:55 (ET) 2023/06/29 8:10 (ET) 2023/06/30 12:55 (ET) 2023/06/29 8:10 (ET)
NYBOT SB 202310 SUGAR #11 WORLD No 2 business days prior to cutoff 2023/09/29 12:55 (ET) 2023/09/28 8:10 (ET) 2023/09/29 12:55 (ET) 2023/09/28 8:10 (ET)
NYBOT SF 202211 Sugar #16 DMSTC No 2 business days prior to cutoff 2022/10/07 13:00 (ET) 2022/10/06 9:00 (ET) 2022/11/01 12:45 (ET) 2022/10/31 9:00 (ET)
NYBOT SF 202301 Sugar #16 DMSTC No 2 business days prior to cutoff 2022/12/08 13:00 (ET) 2022/12/07 9:00 (ET) 2023/01/01 12:45 (ET) 2022/12/29 9:00 (ET)
NYBOT SF 202303 Sugar #16 DMSTC No 2 business days prior to cutoff 2023/02/08 13:00 (ET) 2023/02/07 9:00 (ET) 2023/03/01 12:45 (ET) 2023/02/28 9:00 (ET)
NYBOT SF 202305 Sugar #16 DMSTC No 2 business days prior to cutoff 2023/04/06 13:00 (ET) 2023/04/05 9:00 (ET) 2023/05/01 12:45 (ET) 2023/04/28 9:00 (ET)
NYBOT SF 202307 Sugar #16 DMSTC No 2 business days prior to cutoff 2023/06/08 13:00 (ET) 2023/06/07 9:00 (ET) 2023/07/01 12:45 (ET) 2023/06/29 9:00 (ET)
NYBOT SF 202309 Sugar #16 DMSTC No 2 business days prior to cutoff 2023/08/08 13:00 (ET) 2023/08/07 9:00 (ET) 2023/09/01 12:45 (ET) 2023/08/31 9:00 (ET)
NYMEX ALI 202305 Aluminum No 17 business days prior to cutoff 2023/04/27 14:30 (ET) 2023/04/05 08:30 (ET) 2023/04/27 14:30 (ET) 2023/04/05 08:30 (ET)
NYMEX ALI 202306 Aluminum No 17 business days prior to cutoff 2023/05/30 14:30 (ET) 2023/05/08 08:30 (ET) 2023/05/30 14:30 (ET) 2023/05/08 08:30 (ET)
NYMEX ALI 202309 Aluminum No 17 business days prior to cutoff 2023/08/30 14:30 (ET) 2023/08/08 08:30 (ET) 2023/08/30 14:30 (ET) 2023/08/08 08:30 (ET)
NYMEX ALI 202304 Aluminum No 17 business days prior to cutoff 2023/03/30 14:30 (ET) 2023/03/08 08:30 (ET) 2023/03/30 14:30 (ET) 2023/03/08 08:30 (ET)
NYMEX ALI 202303 Aluminum No 17 business days prior to cutoff 2023/02/27 14:30 (ET) 2023/02/03 08:30 (ET) 2023/02/27 14:30 (ET) 2023/02/03 08:30 (ET)
NYMEX ALI 202210 Aluminum No 17 business days prior to cutoff 2022/09/29 14:30 (ET) 2022/09/07 08:30 (ET) 2022/09/29 14:30 (ET) 2022/09/07 08:30 (ET)
NYMEX ALI 202212 Aluminum No 17 business days prior to cutoff 2022/11/29 14:30 (ET) 2022/11/07 08:30 (ET) 2022/11/29 14:30 (ET) 2022/11/07 08:30 (ET)
NYMEX ALI 202211 Aluminum No 17 business days prior to cutoff 2022/10/28 14:30 (ET) 2022/10/06 08:30 (ET) 2022/10/28 14:30 (ET) 2022/10/06 08:30 (ET)
NYMEX ALI 202301 Aluminum No 17 business days prior to cutoff 2022/12/29 14:30 (ET) 2022/12/07 08:30 (ET) 2022/12/29 14:30 (ET) 2022/12/07 08:30 (ET)
NYMEX ALI 202308 Aluminum No 17 business days prior to cutoff 2023/07/28 14:30 (ET) 2023/07/06 08:30 (ET) 2023/07/28 14:30 (ET) 2023/07/06 08:30 (ET)
NYMEX ALI 202302 Aluminum No 17 business days prior to cutoff 2023/01/30 14:30 (ET) 2023/01/06 08:30 (ET) 2023/01/30 14:30 (ET) 2023/01/06 08:30 (ET)
NYMEX ALI 202307 Aluminum No 17 business days prior to cutoff 2023/06/29 14:30 (ET) 2023/06/07 08:30 (ET) 2023/06/29 14:30 (ET) 2023/06/07 08:30 (ET)
NYMEX BB 202212 Brent Financial No 2 business days prior to cutoff 2022/10/28 14:00 (ET) 2022/10/27 8:00 (ET) 2022/10/28 14:00 (ET) 2022/10/27 8:00 (ET)
NYMEX BB 202301 Brent Financial No 2 business days prior to cutoff 2022/11/29 14:00 (ET) 2022/11/28 8:00 (ET) 2022/11/29 14:00 (ET) 2022/11/28 8:00 (ET)
NYMEX BB 202302 Brent Financial No 2 business days prior to cutoff 2022/12/28 14:00 (ET) 2022/12/27 8:00 (ET) 2022/12/28 14:00 (ET) 2022/12/27 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.