Common use of Commodity Options and Futures Not Settled in Cash Clause in Contracts

Commodity Options and Futures Not Settled in Cash. Customer acknowledges that: (A) commodity options cannot be exercised and must be closed out by offset; and (B) for futures contracts that settle not in cash but by physical delivery of the commodity (including currencies not on IB's Deliverable Currency List), Customer cannot make or receive delivery. If Customer has not offset a commodity option or physical delivery futures position prior to the deadline on the IB website, IB is authorized to roll or liquidate the position or liquidate any position or commodity resulting from the option or futures contract, and Customer is liable for all losses/costs.

Commodity Options and Futures Not Settled in Cash. Customer acknowledges that: (A) commodity options cannot be exercised and must be closed out by offset; and (B) for futures contracts that settle not in cash but by physical delivery of the commodity (including currencies not on IBIB UK's Deliverable Currency List), Customer cannot make or receive delivery. If Customer has not offset a commodity option or physical delivery futures position prior to the deadline on the IB UK website, IB is UK and its Affiliates are authorized to roll or liquidate the position or liquidate any position or commodity resulting from the option or futures contract, and Customer is liable for all losses/costs.

Commodity Options and Futures Not Settled in Cash. Customer the Client acknowledges that: (Aa) commodity options cannot be exercised and must be closed out by offset; and (Bb) for futures contracts that settle not in cash but by physical delivery of the commodity (including currencies not on IB's Deliverable Currency List), Customer the Client cannot make or receive delivery. If Customer the Client has not offset a commodity option or physical delivery futures position prior to the deadline on the IB IBIE website, IB IBIE is authorized authorised to roll or liquidate the position or liquidate any position or commodity resulting from the option or futures contract, and Customer the Client is liable for all losses/losses and/or costs.

Commodity Options and Futures Not Settled in Cash. Customer acknowledges that: (A) commodity options cannot be exercised and must be closed out by offset; and (B) for futures contracts that settle not in cash but by physical delivery of the commodity (including currencies not on IB's ’s Deliverable Currency List), Customer cannot make or receive delivery. If Customer has not offset a commodity option or physical delivery futures position prior to the deadline on the IB website, IB is authorized to roll or liquidate the position or liquidate any position or commodity resulting from the option or futures contract, and Customer is liable for all losses/costs.