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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
CDE CGB 202209 10-year Canadian Government Bond No 2 business days prior to cutoff 2022/08/29 16:00 (ET) 2022/08/26 6:00 (ET) 2022/08/29 16:00 (ET) 2022/08/26 6:00 (ET)
CDE CGB 202212 10-year Canadian Government Bond No 2 business days prior to cutoff 2022/11/28 16:00 (ET) 2022/11/25 6:00 (ET) 2022/11/28 16:00 (ET) 2022/11/25 6:00 (ET)
CDE CGB 202303 10-year Canadian Government Bond No 2 business days prior to cutoff 2023/02/24 16:00 (ET) 2023/02/23 6:00 (ET) 2023/02/24 16:00 (ET) 2023/02/23 6:00 (ET)
CDE CGB 202306 10-year Canadian Government Bond No 2 business days prior to cutoff 2023/05/29 16:00 (ET) 2023/05/26 6:00 (ET) 2023/05/29 16:00 (ET) 2023/05/26 6:00 (ET)
CDE CGF 202209 5-year Canadian Government Bond No 2 business days prior to cutoff 2022/08/29 16:00 (ET) 2022/08/26 6:00 (ET) 2022/08/29 16:00 (ET) 2022/08/26 6:00 (ET)
CDE CGF 202212 5-year Canadian Government Bond No 2 business days prior to cutoff 2022/11/28 16:00 (ET) 2022/11/25 6:00 (ET) 2022/11/28 16:00 (ET) 2022/11/25 6:00 (ET)
CDE CGF 202303 5-year Canadian Government Bond No 2 business days prior to cutoff 2023/02/24 16:00 (ET) 2023/02/23 6:00 (ET) 2023/02/24 16:00 (ET) 2023/02/23 6:00 (ET)
CDE CGF 202306 5-year Canadian Government Bond No 2 business days prior to cutoff 2023/05/29 16:00 (ET) 2023/05/26 6:00 (ET) 2023/05/29 16:00 (ET) 2023/05/26 6:00 (ET)
CDE CGZ 202209 2-year Government No 2 business days prior to cutoff 2022/08/30 16:00 (ET) 2022/08/29 6:00 (ET) 2022/08/30 16:00 (ET) 2022/08/29 6:00 (ET)
CDE CGZ 202212 2-year Government No 2 business days prior to cutoff 2022/11/29 16:00 (ET) 2022/11/28 6:00 (ET) 2022/11/29 16:00 (ET) 2022/11/28 6:00 (ET)
CDE CGZ 202303 2-year Government No 2 business days prior to cutoff 2023/02/27 16:00 (ET) 2023/02/24 6:00 (ET) 2023/02/27 16:00 (ET) 2023/02/24 6:00 (ET)
CDE CGZ 202306 2-year Government No 2 business days prior to cutoff 2023/05/30 16:00 (ET) 2023/05/29 6:00 (ET) 2023/05/30 16:00 (ET) 2023/05/29 6:00 (ET)
DTB FBON 202209 BONO Futures on long-term Spanish government bonds No 7 business days prior to cutoff 2022/09/08 12:30 2022/08/31 8:00 2022/09/08 12:30 2022/08/31 8:00
DTB FBON 202212 BONO Futures on long-term Spanish government bonds No 7 business days prior to cutoff 2022/12/08 12:30 2022/11/30 8:00 2022/12/08 12:30 2022/11/30 8:00
DTB FBON 202303 BONO Futures on long-term Spanish government bonds No 7 business days prior to cutoff 2023/03/08 12:30 2023/02/28 8:00 2023/03/08 12:30 2023/02/28 8:00
DTB FBTP 202209 Euro-BTP Italian Government Bond No 2 business days prior to cutoff 2022/09/08 12:30 2022/09/07 7:50 2022/09/08 12:30 2022/09/07 7:50
DTB FBTP 202212 Euro-BTP Italian Government Bond No 2 business days prior to cutoff 2022/12/08 12:30 2022/12/07 7:50 2022/12/08 12:30 2022/12/07 7:50
DTB FBTP 202303 Euro-BTP Italian Government Bond No 2 business days prior to cutoff 2023/03/08 12:30 2023/03/07 7:50 2023/03/08 12:30 2023/03/07 7:50
DTB FBTS 202209 Short-Term Euro-BTP Italian Bond No 2 business days prior to cutoff 2022/09/08 12:30 2022/09/07 7:50 2022/09/08 12:30 2022/09/07 7:50
DTB FBTS 202212 Short-Term Euro-BTP Italian Bond No 2 business days prior to cutoff 2022/12/08 12:30 2022/12/07 7:50 2022/12/08 12:30 2022/12/07 7:50
DTB FBTS 202303 Short-Term Euro-BTP Italian Bond No 2 business days prior to cutoff 2023/03/08 12:30 2023/03/07 7:50 2023/03/08 12:30 2023/03/07 7:50
DTB FGBL 202209 Euro BUND No 2 hours prior to cutoff 2022/09/08 12:30 2022/09/08 10:30 2022/09/08 12:30 2022/09/08 10:30
DTB FGBL 202212 Euro BUND No 2 hours prior to cutoff 2022/12/08 12:30 2022/12/08 10:30 2022/12/08 12:30 2022/12/08 10:30
DTB FGBL 202303 Euro BUND No 2 hours prior to cutoff 2023/03/08 12:30 2023/03/08 10:30 2023/03/08 12:30 2023/03/08 10:30
DTB FGBM 202209 Euro BOBL No 2 hours prior to cutoff 2022/09/08 12:30 2022/09/08 10:30 2022/09/08 12:30 2022/09/08 10:30
DTB FGBM 202212 Euro BOBL No 2 hours prior to cutoff 2022/12/08 12:30 2022/12/08 10:30 2022/12/08 12:30 2022/12/08 10:30
DTB FGBM 202303 Euro BOBL No 2 hours prior to cutoff 2023/03/08 12:30 2023/03/08 10:30 2023/03/08 12:30 2023/03/08 10:30
DTB FGBS 202209 Euro SCHATZ No 2 hours prior to cutoff 2022/09/08 12:30 2022/09/08 10:30 2022/09/08 12:30 2022/09/08 10:30
DTB FGBS 202212 Euro SCHATZ No 2 hours prior to cutoff 2022/12/08 12:30 2022/12/08 10:30 2022/12/08 12:30 2022/12/08 10:30
DTB FGBS 202303 Euro SCHATZ No 2 hours prior to cutoff 2023/03/08 12:30 2023/03/08 10:30 2023/03/08 12:30 2023/03/08 10:30
DTB FGBX 202209 Euro BUXL No 2 business days prior to cutoff 2022/09/08 12:30 2022/09/07 7:50 2022/09/08 12:30 2022/09/07 7:50
DTB FGBX 202212 Euro BUXL No 2 business days prior to cutoff 2022/12/08 12:30 2022/12/07 7:50 2022/12/08 12:30 2022/12/07 7:50
DTB FGBX 202303 Euro BUXL No 2 business days prior to cutoff 2023/03/08 12:30 2023/03/07 7:50 2023/03/08 12:30 2023/03/07 7:50
DTB FOAT 202209 Euro-OAT French Government Bond Index No 2 business days prior to cutoff 2022/09/08 12:30 2022/09/07 7:50 2022/09/08 12:30 2022/09/07 7:50
DTB FOAT 202212 Euro-OAT French Government Bond Index No 2 business days prior to cutoff 2022/12/08 12:30 2022/12/07 7:50 2022/12/08 12:30 2022/12/07 7:50
DTB FOAT 202303 Euro-OAT French Government Bond Index No 2 business days prior to cutoff 2023/03/08 12:30 2023/03/07 7:50 2023/03/08 12:30 2023/03/07 7:50
ECBOT 10Y 202207 10-year Micro Yield No 2 business days prior to cutoff 2022/07/29 14:00 (CT) 2022/07/28 7:20 (CT) 2022/07/29 14:00 (CT) 2022/07/28 7:20 (CT)
ECBOT 10Y 202208 10-year Micro Yield No 2 business days prior to cutoff 2022/08/31 14:00 (CT) 2022/08/30 7:20 (CT) 2022/08/31 14:00 (CT) 2022/08/30 7:20 (CT)
ECBOT 2YY 202207 2-year Micro Yield No 2 business days prior to cutoff 2022/07/29 14:00 (CT) 2022/07/28 7:20 (CT) 2022/07/29 14:00 (CT) 2022/07/28 7:20 (CT)
ECBOT 2YY 202208 2-year Micro Yield No 2 business days prior to cutoff 2022/08/31 14:00 (CT) 2022/08/30 7:20 (CT) 2022/08/31 14:00 (CT) 2022/08/30 7:20 (CT)
ECBOT 30Y 202207 30-year Micro Yield No 2 business days prior to cutoff 2022/07/29 14:00 (CT) 2022/07/28 7:20 (CT) 2022/07/29 14:00 (CT) 2022/07/28 7:20 (CT)
ECBOT 30Y 202208 30-year Micro Yield No 2 business days prior to cutoff 2022/08/31 14:00 (CT) 2022/08/30 7:20 (CT) 2022/08/31 14:00 (CT) 2022/08/30 7:20 (CT)
ECBOT 5YY 202207 5-year Micro Yield No 2 business days prior to cutoff 2022/07/29 14:00 (CT) 2022/07/28 7:20 (CT) 2022/07/29 14:00 (CT) 2022/07/28 7:20 (CT)
ECBOT 5YY 202208 5-year Micro Yield No 2 business days prior to cutoff 2022/08/31 14:00 (CT) 2022/08/30 7:20 (CT) 2022/08/31 14:00 (CT) 2022/08/30 7:20 (CT)
ECBOT B1U 202209 30-Year Interest Rate Swap No 8 business days prior to cutoff 2022/09/12 15:15 (CT) 2022/09/01 8:30 (CT) 2022/09/19 14:00 (CT) 2022/09/08 8:30 (CT)
ECBOT B1U 202212 30-Year Interest Rate Swap No 8 business days prior to cutoff 2022/12/12 15:15 (CT) 2022/12/01 8:30 (CT) 2022/12/19 14:00 (CT) 2022/12/08 8:30 (CT)
ECBOT EH 202207 Ethanol No 2 business days prior to cutoff 2022/06/29 15:00 (CT) 2022/06/28 8:30 (CT) 2022/07/06 12:01 (CT) 2022/07/05 8:30 (CT)
ECBOT EH 202208 Ethanol No 2 business days prior to cutoff 2022/07/28 15:00 (CT) 2022/07/27 8:30 (CT) 2022/08/03 12:01 (CT) 2022/08/02 8:30 (CT)
ECBOT EH 202209 Ethanol No 2 business days prior to cutoff 2022/08/30 15:00 (CT) 2022/08/29 8:30 (CT) 2022/09/06 12:01 (CT) 2022/09/05 8:30 (CT)
ECBOT EH 202210 Ethanol No 2 business days prior to cutoff 2022/09/29 15:00 (CT) 2022/09/28 8:30 (CT) 2022/10/05 12:01 (CT) 2022/10/04 8:30 (CT)
ECBOT EH 202211 Ethanol No 2 business days prior to cutoff 2022/10/28 15:00 (CT) 2022/10/27 8:30 (CT) 2022/11/03 12:01 (CT) 2022/11/02 8:30 (CT)
ECBOT EH 202212 Ethanol No 2 business days prior to cutoff 2022/11/29 15:00 (CT) 2022/11/28 8:30 (CT) 2022/12/05 12:01 (CT) 2022/12/02 8:30 (CT)
ECBOT EH 202301 Ethanol No 2 business days prior to cutoff 2022/12/29 15:00 (CT) 2022/12/28 8:30 (CT) 2023/01/05 12:01 (CT) 2023/01/04 8:30 (CT)
ECBOT EH 202302 Ethanol No 2 business days prior to cutoff 2023/01/30 15:00 (CT) 2023/01/27 8:30 (CT) 2023/02/03 12:01 (CT) 2023/02/02 8:30 (CT)
ECBOT EH 202303 Ethanol No 2 business days prior to cutoff 2023/02/27 15:00 (CT) 2023/02/24 8:30 (CT) 2023/03/03 12:01 (CT) 2023/03/02 8:30 (CT)
ECBOT EH 202304 Ethanol No 2 business days prior to cutoff 2023/03/30 15:00 (CT) 2023/03/29 8:30 (CT) 2023/04/05 12:01 (CT) 2023/04/04 8:30 (CT)
ECBOT EH 202305 Ethanol No 2 business days prior to cutoff 2023/04/27 15:00 (CT) 2023/04/26 8:30 (CT) 2023/05/03 12:01 (CT) 2023/05/02 8:30 (CT)
ECBOT EH 202306 Ethanol No 2 business days prior to cutoff 2023/05/30 15:00 (CT) 2023/05/29 8:30 (CT) 2023/06/05 12:01 (CT) 2023/06/02 8:30 (CT)
ECBOT F1U 202209 5-Year Interest Rate Swap No 8 business days prior to cutoff 2022/09/12 15:15 (CT) 2022/09/01 8:30 (CT) 2022/09/19 14:00 (CT) 2022/09/08 8:30 (CT)
ECBOT F1U 202212 5-Year Interest Rate Swap No 8 business days prior to cutoff 2022/12/12 15:15 (CT) 2022/12/01 8:30 (CT) 2022/12/19 14:00 (CT) 2022/12/08 8:30 (CT)
ECBOT KE 202207 Kansas City Wheat No 2 business days prior to cutoff 2022/06/29 13:15 (CT) 2022/06/28 8:30 (CT) 2022/06/29 13:15 (CT) 2022/06/28 8:30 (CT)
ECBOT KE 202303 Kansas City Wheat No 2 business days prior to cutoff 2023/02/27 13:15 (CT) 2023/02/24 8:30 (CT) 2023/02/27 13:15 (CT) 2023/02/24 8:30 (CT)
ECBOT KE 202212 Kansas City Wheat No 2 business days prior to cutoff 2022/11/29 13:15 (CT) 2022/11/28 8:30 (CT) 2022/11/29 13:15 (CT) 2022/11/28 8:30 (CT)
ECBOT KE 202209 Kansas City Wheat No 2 business days prior to cutoff 2022/08/30 13:15 (CT) 2022/08/29 8:30 (CT) 2022/08/30 13:15 (CT) 2022/08/29 8:30 (CT)
ECBOT KE 202305 Kansas City Wheat No 2 business days prior to cutoff 2023/04/27 13:15 (CT) 2023/04/26 8:30 (CT) 2023/04/27 13:15 (CT) 2023/04/26 8:30 (CT)
ECBOT N1U 202209 10-Year Interest Rate Swap No 8 business days prior to cutoff 2022/09/12 15:15 (CT) 2022/09/01 8:30 (CT) 2022/09/19 14:00 (CT) 2022/09/08 8:30 (CT)
ECBOT N1U 202212 10-Year Interest Rate Swap No 8 business days prior to cutoff 2022/12/12 15:15 (CT) 2022/12/01 8:30 (CT) 2022/12/19 14:00 (CT) 2022/12/08 8:30 (CT)
ECBOT T1U 202209 2-Year Interest Rate Swap No 8 business days prior to cutoff 2022/09/12 15:15 (CT) 2022/09/01 8:30 (CT) 2022/09/19 14:00 (CT) 2022/09/08 8:30 (CT)
ECBOT T1U 202212 2-Year Interest Rate Swap No 8 business days prior to cutoff 2022/12/12 15:15 (CT) 2022/12/01 8:30 (CT) 2022/12/19 14:00 (CT) 2022/12/08 8:30 (CT)
ECBOT TN 202209 10-YR T-NOTES No 1 business day prior to cutoff 2022/08/30 15:15 (CT) 2022/08/30 7:20 (CT) 2022/09/21 12:01 (CT) 2022/09/21 7:20 (CT)
ECBOT TN 202212 10-YR T-NOTES No 1 business day prior to cutoff 2022/11/29 15:15 (CT) 2022/11/29 7:20 (CT) 2022/12/20 12:01 (CT) 2022/12/20 7:20 (CT)
ECBOT TN 202303 10-YR T-NOTES No 1 business day prior to cutoff 2023/02/27 15:15 (CT) 2023/02/27 7:20 (CT) 2023/03/22 12:01 (CT) 2023/03/22 7:20 (CT)
ECBOT TWE 202212 20-YR TREASURY No 2 hours prior to cutoff 2022/11/29 15:15 (CT) 2022/11/29 13:15 (CT) 2022/12/20 12:01 (CT) 2022/12/20 10:01 (CT)
ECBOT TWE 202209 20-YR TREASURY No 2 hours prior to cutoff 2022/08/30 15:15 (CT) 2022/08/30 13:15 (CT) 2022/09/21 12:01 (CT) 2022/09/21 10:01 (CT)
ECBOT TWE 202303 20-YR TREASURY No 2 hours prior to cutoff 2023/02/27 15:15 (CT) 2023/02/27 13:15 (CT) 2023/03/22 12:01 (CT) 2023/03/22 10:01 (CT)
ECBOT UB 202209 Ultra T-BONDS No 2 hours prior to cutoff 2022/08/30 15:15 (CT) 2022/08/30 13:15 (CT) 2022/09/21 12:01 (CT) 2022/09/21 10:01 (CT)
ECBOT UB 202212 Ultra T-BONDS No 2 hours prior to cutoff 2022/11/29 15:15 (CT) 2022/11/29 13:15 (CT) 2022/12/20 12:01 (CT) 2022/12/20 10:01 (CT)
ECBOT UB 202303 Ultra T-BONDS No 2 hours prior to cutoff 2023/02/27 15:15 (CT) 2023/02/27 13:15 (CT) 2023/03/22 12:01 (CT) 2023/03/22 10:01 (CT)
ECBOT XC 202207 MINI CORN FUTURES No 1 business day prior to cutoff 2022/06/29 13:45 (CT) 2022/06/29 8:30 (CT) 2022/06/29 13:45 (CT) 2022/06/29 8:30 (CT)
ECBOT XC 202212 MINI CORN FUTURES No 1 business day prior to cutoff 2022/11/29 13:45 (CT) 2022/11/29 8:30 (CT) 2022/11/29 13:45 (CT) 2022/11/29 8:30 (CT)
ECBOT XC 202209 MINI CORN FUTURES No 1 business day prior to cutoff 2022/08/30 13:45 (CT) 2022/08/30 8:30 (CT) 2022/08/30 13:45 (CT) 2022/08/30 8:30 (CT)
ECBOT XC 202303 MINI CORN FUTURES No 1 business day prior to cutoff 2023/02/27 13:45 (CT) 2023/02/27 8:30 (CT) 2023/02/27 13:45 (CT) 2023/02/27 8:30 (CT)
ECBOT XC 202305 MINI CORN FUTURES No 1 business day prior to cutoff 2023/04/27 13:45 (CT) 2023/04/27 8:30 (CT) 2023/04/27 13:45 (CT) 2023/04/27 8:30 (CT)
ECBOT XK 202207 MINI SOYBEAN FUTURES No 2 business days prior to cutoff 2022/06/29 13:45 (CT) 2022/06/28 8:30 (CT) 2022/06/29 13:45 (CT) 2022/06/28 8:30 (CT)
ECBOT XK 202211 MINI SOYBEAN FUTURES No 2 business days prior to cutoff 2022/10/28 13:45 (CT) 2022/10/27 8:30 (CT) 2022/10/28 13:45 (CT) 2022/10/27 8:30 (CT)
ECBOT XK 202208 MINI SOYBEAN FUTURES No 2 business days prior to cutoff 2022/07/28 13:45 (CT) 2022/07/27 8:30 (CT) 2022/07/28 13:45 (CT) 2022/07/27 8:30 (CT)
ECBOT XK 202209 MINI SOYBEAN FUTURES No 2 business days prior to cutoff 2022/08/30 13:45 (CT) 2022/08/29 8:30 (CT) 2022/08/30 13:45 (CT) 2022/08/29 8:30 (CT)
ECBOT XK 202305 MINI SOYBEAN FUTURES No 2 business days prior to cutoff 2023/04/27 13:45 (CT) 2023/04/26 8:30 (CT) 2023/04/27 13:45 (CT) 2023/04/26 8:30 (CT)
ECBOT XK 202301 MINI SOYBEAN FUTURES No 2 business days prior to cutoff 2022/12/29 13:45 (CT) 2022/12/28 8:30 (CT) 2022/12/29 13:45 (CT) 2022/12/28 8:30 (CT)
ECBOT XK 202303 MINI SOYBEAN FUTURES No 2 business days prior to cutoff 2023/02/27 13:45 (CT) 2023/02/24 8:30 (CT) 2023/02/27 13:45 (CT) 2023/02/24 8:30 (CT)
ECBOT XW 202207 MINI WHEAT FUTURES No 1 business day prior to cutoff 2022/06/29 13:45 (CT) 2022/06/29 8:30 (CT) 2022/06/29 13:45 (CT) 2022/06/29 8:30 (CT)
ECBOT XW 202209 MINI WHEAT FUTURES No 1 business day prior to cutoff 2022/08/30 13:45 (CT) 2022/08/30 8:30 (CT) 2022/08/30 13:45 (CT) 2022/08/30 8:30 (CT)
ECBOT XW 202212 MINI WHEAT FUTURES No 1 business day prior to cutoff 2022/11/29 13:45 (CT) 2022/11/29 8:30 (CT) 2022/11/29 13:45 (CT) 2022/11/29 8:30 (CT)
ECBOT XW 202305 MINI WHEAT FUTURES No 1 business day prior to cutoff 2023/04/27 13:45 (CT) 2023/04/27 8:30 (CT) 2023/04/27 13:45 (CT) 2023/04/27 8:30 (CT)
ECBOT XW 202303 MINI WHEAT FUTURES No 1 business day prior to cutoff 2023/02/27 13:45 (CT) 2023/02/27 8:30 (CT) 2023/02/27 13:45 (CT) 2023/02/27 8:30 (CT)
ECBOT Z3N 202209 3-YR TREAS. No 2 business days prior to cutoff 2022/08/30 15:15 (CT) 2022/08/29 8:30 (CT) 2022/09/30 12:01 (CT) 2022/09/29 8:30 (CT)
ECBOT Z3N 202212 3-YR TREAS. No 2 business days prior to cutoff 2022/11/29 15:15 (CT) 2022/11/28 8:30 (CT) 2022/12/30 12:01 (CT) 2022/12/29 8:30 (CT)
ECBOT Z3N 202303 3-YR TREAS. No 2 business days prior to cutoff 2023/02/27 15:15 (CT) 2023/02/24 8:30 (CT) 2023/03/31 12:01 (CT) 2023/03/30 8:30 (CT)
ECBOT ZB 202209 30-year T-BONDS No 2 hours prior to cutoff 2022/08/30 15:15 (CT) 2022/08/30 13:15 (CT) 2022/09/21 12:01 (CT) 2022/09/21 10:01 (CT)
ECBOT ZB 202212 30-year T-BONDS No 2 hours prior to cutoff 2022/11/29 15:15 (CT) 2022/11/29 13:15 (CT) 2022/12/20 12:01 (CT) 2022/12/20 10:01 (CT)
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.