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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
GLOBEX RP 202109 Euro FX/BP cross rate Yes(1) 2 business days prior to cutoff 2021/09/13 09:16 (CT) 2021/09/10 7:20 (CT) 2021/09/13 09:16 (CT) 2021/09/10 7:20 (CT)
GLOBEX RP 202010 Euro FX/BP cross rate Yes(1) 2 business days prior to cutoff 2020/10/19 09:16 (CT) 2020/10/16 7:20 (CT) 2020/10/19 09:16 (CT) 2020/10/16 7:20 (CT)
GLOBEX RP 202011 Euro FX/BP cross rate Yes(1) 2 business days prior to cutoff 2020/11/16 09:16 (CT) 2020/11/13 7:20 (CT) 2020/11/16 09:16 (CT) 2020/11/13 7:20 (CT)
GLOBEX RP 202101 Euro FX/BP cross rate Yes(1) 2 business days prior to cutoff 2021/01/15 09:16 (CT) 2021/01/14 7:20 (CT) 2021/01/15 09:16 (CT) 2021/01/14 7:20 (CT)
GLOBEX RY 202012 Euro FX/JY cross rate Yes(1) 2 business days prior to cutoff 2020/12/14 09:16 (CT) 2020/12/11 7:20 (CT) 2020/12/14 09:16 (CT) 2020/12/11 7:20 (CT)
GLOBEX RY 202103 Euro FX/JY cross rate Yes(1) 2 business days prior to cutoff 2021/03/15 09:16 (CT) 2021/03/12 7:20 (CT) 2021/03/15 09:16 (CT) 2021/03/12 7:20 (CT)
GLOBEX RY 202106 Euro FX/JY cross rate Yes(1) 2 business days prior to cutoff 2021/06/14 09:16 (CT) 2021/06/11 7:20 (CT) 2021/06/14 09:16 (CT) 2021/06/11 7:20 (CT)
GLOBEX RY 202109 Euro FX/JY cross rate Yes(1) 2 business days prior to cutoff 2021/09/13 09:16 (CT) 2021/09/10 7:20 (CT) 2021/09/13 09:16 (CT) 2021/09/10 7:20 (CT)
GLOBEX SEK 202012 SWEDISH KRONA No 5 business days prior to cutoff 2020/12/14 09:16 (CT) 2020/12/08 8:30 (CT) 2020/12/14 09:16 (CT) 2020/12/08 8:30 (CT)
GLOBEX SEK 202103 SWEDISH KRONA No 5 business days prior to cutoff 2021/03/15 09:16 (CT) 2021/03/09 8:30 (CT) 2021/03/15 09:16 (CT) 2021/03/09 8:30 (CT)
GLOBEX SEK 202106 SWEDISH KRONA No 5 business days prior to cutoff 2021/06/14 09:16 (CT) 2021/06/08 8:30 (CT) 2021/06/14 09:16 (CT) 2021/06/08 8:30 (CT)
GLOBEX SEK 202109 SWEDISH KRONA No 5 business days prior to cutoff 2021/09/13 09:16 (CT) 2021/09/07 8:30 (CT) 2021/09/13 09:16 (CT) 2021/09/07 8:30 (CT)
GLOBEX SJY 202012 SF/JY cross rate Yes(1) 2 business days prior to cutoff 2020/12/14 09:16 (CT) 2020/12/11 7:20 (CT) 2020/12/14 09:16 (CT) 2020/12/11 7:20 (CT)
GLOBEX SJY 202103 SF/JY cross rate Yes(1) 2 business days prior to cutoff 2021/03/15 09:16 (CT) 2021/03/12 7:20 (CT) 2021/03/15 09:16 (CT) 2021/03/12 7:20 (CT)
GLOBEX SJY 202106 SF/JY cross rate Yes(1) 2 business days prior to cutoff 2021/06/14 09:16 (CT) 2021/06/11 7:20 (CT) 2021/06/14 09:16 (CT) 2021/06/11 7:20 (CT)
GLOBEX SJY 202109 SF/JY cross rate Yes(1) 2 business days prior to cutoff 2021/09/13 09:16 (CT) 2021/09/10 7:20 (CT) 2021/09/13 09:16 (CT) 2021/09/10 7:20 (CT)
HKFE CUS 202012 CNH FX Yes(1) 2 business days prior to cutoff 2020/12/14 11:00 2020/12/11 09:00 2020/12/14 11:00 2020/12/11 09:00
HKFE CUS 202103 CNH FX Yes(1) 2 business days prior to cutoff 2021/03/15 11:00 2021/03/12 09:00 2021/03/15 11:00 2021/03/12 09:00
HKFE CUS 202106 CNH FX Yes(1) 2 business days prior to cutoff 2021/06/11 11:00 2021/06/10 09:00 2021/06/11 11:00 2021/06/10 09:00
HKFE CUS 202109 CNH FX Yes(1) 2 business days prior to cutoff 2021/09/13 11:00 2021/09/10 09:00 2021/09/13 11:00 2021/09/10 09:00
HKFE CUS 202010 CNH FX Yes(1) 2 business days prior to cutoff 2020/10/19 11:00 2020/10/16 09:00 2020/10/19 11:00 2020/10/16 09:00
HKFE CUS 202011 CNH FX Yes(1) 2 business days prior to cutoff 2020/11/16 11:00 2020/11/13 09:00 2020/11/16 11:00 2020/11/13 09:00
HKFE CUS 202101 CNH FX Yes(1) 2 business days prior to cutoff 2021/01/18 11:00 2021/01/15 09:00 2021/01/18 11:00 2021/01/15 09:00
HKFE GDR 202010 Gold No 3 business days prior to cutoff 2020/10/13 16:30 2020/10/09 8:30 2020/10/19 16:30 2020/10/15 8:30
HKFE GDR 202011 Gold No 3 business days prior to cutoff 2020/11/10 16:30 2020/11/06 8:30 2020/11/16 16:30 2020/11/12 8:30
HKFE GDR 202012 Gold No 3 business days prior to cutoff 2020/12/15 16:30 2020/12/11 8:30 2020/12/21 16:30 2020/12/17 8:30
HKFE GDR 202101 Gold No 3 business days prior to cutoff 2021/01/12 16:30 2021/01/08 8:30 2021/01/18 16:30 2021/01/14 8:30
HKFE GDR 202102 Gold No 3 business days prior to cutoff 2021/02/08 16:30 2021/02/04 8:30 2021/02/16 16:30 2021/02/12 8:30
HKFE GDR 202103 Gold No 3 business days prior to cutoff 2021/03/09 16:30 2021/03/05 8:30 2021/03/15 16:30 2021/03/11 8:30
HKFE GDR 202104 Gold No 3 business days prior to cutoff 2021/04/13 16:30 2021/04/09 8:30 2021/04/19 16:30 2021/04/15 8:30
HKFE GDR 202105 Gold No 3 business days prior to cutoff 2021/05/11 16:30 2021/05/07 8:30 2021/05/17 16:30 2021/05/13 8:30
HKFE GDR 202106 Gold No 3 business days prior to cutoff 2021/06/15 16:30 2021/06/11 8:30 2021/06/21 16:30 2021/06/17 8:30
HKFE GDR 202107 Gold No 3 business days prior to cutoff 2021/07/13 16:30 2021/07/09 8:30 2021/07/19 16:30 2021/07/15 8:30
HKFE GDR 202108 Gold No 3 business days prior to cutoff 2021/08/10 16:30 2021/08/06 8:30 2021/08/16 16:30 2021/08/12 8:30
HKFE GDR 202109 Gold No 3 business days prior to cutoff 2021/09/14 16:30 2021/09/10 8:30 2021/09/20 16:30 2021/09/16 8:30
HKFE GDU 202010 Gold No 3 business days prior to cutoff 2020/10/13 16:30 2020/10/09 8:30 2020/10/13 16:30 2020/10/09 8:30
HKFE GDU 202011 Gold No 3 business days prior to cutoff 2020/11/10 16:30 2020/11/06 8:30 2020/11/10 16:30 2020/11/06 8:30
HKFE GDU 202012 Gold No 3 business days prior to cutoff 2020/12/15 16:30 2020/12/11 8:30 2020/12/15 16:30 2020/12/11 8:30
HKFE GDU 202101 Gold No 3 business days prior to cutoff 2021/01/12 16:30 2021/01/08 8:30 2021/01/12 16:30 2021/01/08 8:30
HKFE GDU 202102 Gold No 3 business days prior to cutoff 2021/02/08 16:30 2021/02/04 8:30 2021/02/08 16:30 2021/02/04 8:30
HKFE GDU 202103 Gold No 3 business days prior to cutoff 2021/03/09 16:30 2021/03/05 8:30 2021/03/09 16:30 2021/03/05 8:30
HKFE GDU 202104 Gold No 3 business days prior to cutoff 2021/04/13 16:30 2021/04/09 8:30 2021/04/13 16:30 2021/04/09 8:30
HKFE GDU 202105 Gold No 3 business days prior to cutoff 2021/05/11 16:30 2021/05/07 8:30 2021/05/11 16:30 2021/05/07 8:30
HKFE GDU 202106 Gold No 3 business days prior to cutoff 2021/06/15 16:30 2021/06/11 8:30 2021/06/15 16:30 2021/06/11 8:30
HKFE GDU 202107 Gold No 3 business days prior to cutoff 2021/07/13 16:30 2021/07/09 8:30 2021/07/13 16:30 2021/07/09 8:30
HKFE GDU 202108 Gold No 3 business days prior to cutoff 2021/08/10 16:30 2021/08/06 8:30 2021/08/10 16:30 2021/08/06 8:30
HKFE GDU 202109 Gold No 3 business days prior to cutoff 2021/09/14 16:30 2021/09/10 8:30 2021/09/14 16:30 2021/09/10 8:30
ICECRYPTO BTM 202010 Bakkt Bitcoin No 3 business days prior to cutoff 2020/10/14 00:00 2020/10/12 9:30 2020/10/14 16:00 2020/10/12 9:30
ICECRYPTO BTM 202011 Bakkt Bitcoin No 3 business days prior to cutoff 2020/11/18 00:00 2020/11/16 9:30 2020/11/18 16:00 2020/11/16 9:30
ICECRYPTO BTM 202012 Bakkt Bitcoin No 3 business days prior to cutoff 2020/12/16 00:00 2020/12/14 9:30 2020/12/16 16:00 2020/12/14 9:30
ICECRYPTO BTM 202101 Bakkt Bitcoin No 3 business days prior to cutoff 2021/01/13 00:00 2021/01/11 9:30 2021/01/13 16:00 2021/01/11 9:30
ICECRYPTO BTM 202102 Bakkt Bitcoin No 3 business days prior to cutoff 2021/02/17 00:00 2021/02/15 9:30 2021/02/17 16:00 2021/02/15 9:30
ICECRYPTO BTM 202103 Bakkt Bitcoin No 3 business days prior to cutoff 2021/03/17 00:00 2021/03/15 9:30 2021/03/17 16:00 2021/03/15 9:30
ICECRYPTO BTM 202104 Bakkt Bitcoin No 3 business days prior to cutoff 2021/04/14 00:00 2021/04/12 9:30 2021/04/14 16:00 2021/04/12 9:30
ICECRYPTO BTM 202105 Bakkt Bitcoin No 3 business days prior to cutoff 2021/05/19 00:00 2021/05/17 9:30 2021/05/19 16:00 2021/05/17 9:30
ICECRYPTO BTM 202106 Bakkt Bitcoin No 3 business days prior to cutoff 2021/06/16 00:00 2021/06/14 9:30 2021/06/16 16:00 2021/06/14 9:30
ICECRYPTO BTM 202107 Bakkt Bitcoin No 3 business days prior to cutoff 2021/07/14 00:00 2021/07/12 9:30 2021/07/14 16:00 2021/07/12 9:30
ICECRYPTO BTM 202108 Bakkt Bitcoin No 3 business days prior to cutoff 2021/08/18 00:00 2021/08/16 9:30 2021/08/18 16:00 2021/08/16 9:30
ICECRYPTO BTM 202109 Bakkt Bitcoin No 3 business days prior to cutoff 2021/09/15 00:00 2021/09/13 9:30 2021/09/15 16:00 2021/09/13 9:30
ICEEU G 202009 Short Gilt No 2 business days prior to cutoff 2020/08/28 16:30 2020/08/27 8:00 2020/09/28 11:00 2020/09/25 8:00
ICEEU G 202012 Short Gilt No 2 business days prior to cutoff 2020/11/27 16:30 2020/11/26 8:00 2020/12/29 11:00 2020/12/28 8:00
ICEEU H 202009 Medium Gilt No 2 business days prior to cutoff 2020/08/28 16:30 2020/08/27 8:00 2020/09/28 11:00 2020/09/25 8:00
ICEEU H 202012 Medium Gilt No 2 business days prior to cutoff 2020/11/27 16:30 2020/11/26 8:00 2020/12/29 11:00 2020/12/28 8:00
ICEEU R 202009 Long Gilt No 2 business days prior to cutoff 2020/08/28 16:30 2020/08/27 8:00 2020/09/28 11:00 2020/09/25 8:00
ICEEU R 202012 Long Gilt No 2 business days prior to cutoff 2020/11/27 16:30 2020/11/26 8:00 2020/12/29 11:00 2020/12/28 8:00
ICEEU R 202103 Long Gilt No 2 business days prior to cutoff 2021/02/25 16:30 2021/02/24 8:00 2021/03/29 11:00 2021/03/26 8:00
ICEEUSOFT C 202012 Cocoa No 3 business days prior to cutoff 2020/12/14 12:00 2020/12/10 9:30 2020/12/14 12:00 2020/12/10 9:30
ICEEUSOFT C 202103 Cocoa No 3 business days prior to cutoff 2021/03/16 12:00 2021/03/12 9:30 2021/03/16 12:00 2021/03/12 9:30
ICEEUSOFT C 202105 Cocoa No 3 business days prior to cutoff 2021/05/13 12:00 2021/05/11 9:30 2021/05/13 12:00 2021/05/11 9:30
ICEEUSOFT C 202107 Cocoa No 3 business days prior to cutoff 2021/07/15 12:00 2021/07/13 9:30 2021/07/15 12:00 2021/07/13 9:30
ICEEUSOFT C 202109 Cocoa No 3 business days prior to cutoff 2021/09/15 12:00 2021/09/13 9:30 2021/09/15 12:00 2021/09/13 9:30
ICEEUSOFT RC 202009 Robusta coffee No 3 business days prior to cutoff 2020/08/25 17:30 2020/08/21 9:00 2020/09/24 12:30 2020/09/22 9:00
ICEEUSOFT RC 202011 Robusta coffee No 3 business days prior to cutoff 2020/10/27 17:30 2020/10/23 9:00 2020/11/24 12:30 2020/11/20 9:00
ICEEUSOFT RC 202101 Robusta coffee No 3 business days prior to cutoff 2020/12/24 17:30 2020/12/22 9:00 2021/01/25 12:30 2021/01/21 9:00
ICEEUSOFT RC 202103 Robusta coffee No 3 business days prior to cutoff 2021/02/23 17:30 2021/02/19 9:00 2021/03/25 12:30 2021/03/23 9:00
ICEEUSOFT RC 202105 Robusta coffee No 3 business days prior to cutoff 2021/04/27 17:30 2021/04/23 9:00 2021/05/24 12:30 2021/05/20 9:00
ICEEUSOFT RC 202107 Robusta coffee No 3 business days prior to cutoff 2021/06/25 17:30 2021/06/23 9:00 2021/07/26 12:30 2021/07/22 9:00
ICEEUSOFT T 202011 Wheat No 3 business days prior to cutoff 2020/10/26 16:30 2020/10/22 9:25 2020/11/23 12:30 2020/11/19 9:25
ICEEUSOFT T 202101 Wheat No 3 business days prior to cutoff 2020/12/25 16:30 2020/12/23 9:25 2021/01/22 12:30 2021/01/20 9:25
ICEEUSOFT T 202103 Wheat No 3 business days prior to cutoff 2021/02/22 16:30 2021/02/18 9:25 2021/03/23 12:30 2021/03/19 9:25
ICEEUSOFT T 202105 Wheat No 3 business days prior to cutoff 2021/04/26 16:30 2021/04/22 9:25 2021/05/21 12:30 2021/05/19 9:25
ICEEUSOFT T 202107 Wheat No 3 business days prior to cutoff 2021/06/24 16:30 2021/06/22 9:25 2021/07/07 12:30 2021/07/05 9:25
ICEEUSOFT W 202012 White sugar No 3 business days prior to cutoff 2020/11/13 17:55 2020/11/11 8:45 2020/11/13 17:55 2020/11/11 8:45
ICEEUSOFT W 202103 White sugar No 3 business days prior to cutoff 2021/02/12 17:55 2021/02/10 8:45 2021/02/12 17:55 2021/02/10 8:45
ICEEUSOFT W 202105 White sugar No 3 business days prior to cutoff 2021/04/15 17:55 2021/04/13 8:45 2021/04/15 17:55 2021/04/13 8:45
ICEEUSOFT W 202108 White sugar No 3 business days prior to cutoff 2021/07/16 17:55 2021/07/14 8:45 2021/07/16 17:55 2021/07/14 8:45
ICEUS KAU 202012 AUD Cash Yes(1) 2 business days prior to cutoff 2020/12/14 00:00 (ET) 2020/12/11 8:05 (ET) 2020/12/14 15:00 (ET) 2020/12/11 8:05 (ET)
ICEUS KAU 202103 AUD Cash Yes(1) 2 business days prior to cutoff 2021/03/15 00:00 (ET) 2021/03/12 8:05 (ET) 2021/03/15 15:00 (ET) 2021/03/12 8:05 (ET)
ICEUS KAU 202106 AUD Cash Yes(1) 2 business days prior to cutoff 2021/06/14 00:00 (ET) 2021/06/11 8:05 (ET) 2021/06/14 15:00 (ET) 2021/06/11 8:05 (ET)
ICEUS KAU 202109 AUD Cash Yes(1) 2 business days prior to cutoff 2021/09/13 00:00 (ET) 2021/09/10 8:05 (ET) 2021/09/13 15:00 (ET) 2021/09/10 8:05 (ET)
ICEUS KEJ 202012 Euro-Japanese Yen Index Yes(1) 2 business days prior to cutoff 2020/12/14 10:16 (ET) 2020/12/11 8:05 (ET) 2020/12/14 10:16 (ET) 2020/12/11 8:05 (ET)
ICEUS KEJ 202103 Euro-Japanese Yen Index Yes(1) 2 business days prior to cutoff 2021/03/15 10:16 (ET) 2021/03/12 8:05 (ET) 2021/03/15 10:16 (ET) 2021/03/12 8:05 (ET)
ICEUS KEJ 202106 Euro-Japanese Yen Index Yes(1) 2 business days prior to cutoff 2021/06/14 10:16 (ET) 2021/06/11 8:05 (ET) 2021/06/14 10:16 (ET) 2021/06/11 8:05 (ET)
ICEUS KEJ 202109 Euro-Japanese Yen Index Yes(1) 2 business days prior to cutoff 2021/09/13 10:16 (ET) 2021/09/10 8:05 (ET) 2021/09/13 10:16 (ET) 2021/09/10 8:05 (ET)
ICEUS KEO 202012 EUR Cash USD Yes(1) 2 business days prior to cutoff 2020/12/14 00:00 (ET) 2020/12/11 8:05 (ET) 2020/12/14 15:00 (ET) 2020/12/11 8:05 (ET)
ICEUS KEO 202103 EUR Cash USD Yes(1) 2 business days prior to cutoff 2021/03/15 00:00 (ET) 2021/03/12 8:05 (ET) 2021/03/15 15:00 (ET) 2021/03/12 8:05 (ET)
ICEUS KEO 202106 EUR Cash USD Yes(1) 2 business days prior to cutoff 2021/06/14 00:00 (ET) 2021/06/11 8:05 (ET) 2021/06/14 15:00 (ET) 2021/06/11 8:05 (ET)
ICEUS KEO 202109 EUR Cash USD Yes(1) 2 business days prior to cutoff 2021/09/13 00:00 (ET) 2021/09/10 8:05 (ET) 2021/09/13 15:00 (ET) 2021/09/10 8:05 (ET)
ICEUS KEP 202012 EUR Cash CAD Yes(1) 2 business days prior to cutoff 2020/12/14 10:16 (ET) 2020/12/11 8:05 (ET) 2020/12/14 10:16 (ET) 2020/12/11 8:05 (ET)
ICEUS KEP 202103 EUR Cash CAD Yes(1) 2 business days prior to cutoff 2021/03/15 10:16 (ET) 2021/03/12 8:05 (ET) 2021/03/15 10:16 (ET) 2021/03/12 8:05 (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.