For futures contracts that are settled by the actual physical delivery of the underlying commodity (physical delivery futures, which include products eligible and ineligible to trade at negative prices), account holders may not make or receive delivery of the underlying commodity. The exception is for the major CME currency futures (EUR, GBP, CHF, AUD, CAD, JPY, HKD).
Please Note
- If the account is not an approved ECP (Eligible Contract Participant) or does not have approved Leveraged Forex Trading Permissions it will only be allowed to close a cash position resulting from a delivery of an expired Forex future contract.
- Oil-related futures contracts are subject to a close-out period. The oil-related futures 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.
The date and time IBKR can start liquidating a specific futures contract can be found on the Futures Close-Out Policy page of our website.
Additional Information