At the end of trading on the future's Last Trade Date, a non-tradable/halted contract remains in the account until the time the exchange is able to calculate a Final Settlement Price. Each exchange details a settlement procedure in their Rule Book which is available on each exchange's web site.
For example:
- The CME's expiring Weekly ES Future Option contracts will remain in the account until the Special Opening Quotation (SOQ) value is calculated the morning of the next business day
- The ICE Nybot Rule 4.34 states "..if the Exchange is otherwise unable to issue a Final Settlement Price on such day as specified in the Rules, then the Exchange may, in its discretion, either publish a Final Settlement Price on such day using such pricing data as it deems reliable, or delay issuing a Final Settlement Price and shall publish a Final Settlement Price on the next Business Day or as soon thereafter as practicable using such pricing data as it deems reliable.."