Special Labeling and Expiration Date Descriptions for Futures Contracts

Special Labeling and Expiration Date Descriptions for Futures Contracts

Please be aware of an IB-specific labeling issue with respect to the NYMEX/GLOBEX mini oil and gas futures and options products. It is industry standard to refer to the expiration month of such commodities as the month FOLLOWING the actual Last Trade Date for that product. For example, a mini Natural Gas issue whose expiration date is Aug. 27, would be commonly referred to in the industry as the September Natural Gas issue. In order to conform to the industry standard label, IB references the expiration date of the contract as the first business date of the following month. Such a reference results in the IB-labeling of the affected contracts with a Last Trade Date of Aug. 27 as a September contract (thus reflecting the industry-norm). The end result is that the contract now has the correct label, but an incorrect Last Trade Date.

At expiration, in order to properly manage the expiration process, IB restates the expiration date to reflect the actual Last Trade Date (Aug. 27 in the above example). The end result, on expiration day, the contract will have the correct date information (Aug. 27), but a non-standard label. Using the above example, the contract would, for that day, be labeled as an August issue as opposed to a September issue.

The above process has no monetary effect. It is simply a process that enables IB to label the respective contracts to conform to the industry standard.

For actual expiration dates for the mini oil and gas products, mini-metals, and various physical delivery futures, please visit the exchange website(s) accessible from the exchange page inside the IB website.

The risk of loss in online trading of stocks, options, futures, currencies, foreign equities, and fixed income can be substantial. Options are not suitable for all investors. For more information, read the "Characteristics and Risks of Standardized Options".

Your capital is at risk and your losses may exceed the value of your original investment.

Interactive Brokers (U.K.) Limited is authorised and regulated by the Financial Conduct Authority. FCA Reference Number 208159.

Cryptoassets are unregulated in the UK. Interactive Brokers (U.K) Limited ("IBUK") is registered with the Financial Conduct Authority as a cryptoassets firm under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.

Interactive Brokers LLC is regulated by the US SEC and CFTC and is a member of the SIPC (www.sipc.org) compensation scheme;
products are only covered by the UK FSCS in limited circumstances.

Before trading, customers must read the relevant risk disclosure statements on our Warnings and Disclaimers page.

For a list of IBG memberships worldwide, see our exchange listings.