Hours & Holidays

2025 Futures Settlement Calendar2024 Futures Settlement Calendar

CFE Trading Hours

(all times are Central Time)

VX/VXM Futures

Trading StateSunMon-ThursFri
Pre-Open4:00 p.m.4:45 p.m.
Open5:00 p.m.5:00 p.m.
Post Settlement Start Time3:00 p.m.3:00 p.m.
Close4:00 p.m.4:00 p.m.
Close Time for Expiring Instruments8:00 a.m. on expiration Wed
Market Order Acceptance Time8:30 a.m. – 3:00 p.m.8:30 a.m. – 3:00 p.m.
Limit Up/Limit Down Start Time5:00 p.m.3:00 p.m. and 5:00 p.m.3:00 p.m.
Limit Up/Limit Down End Time8:30 a.m. and 4:00 p.m.8:30 a.m. and 4:00 p.m.

VXT/VXMT Futures

Trading StateSunMon-ThursFri
Pre-Open4:00 p.m.4:45 p.m.
Open5:00 p.m.5:00 p.m.
Close3:00 p.m.3:00 p.m.
Close Time for Expiring Instruments3:00 p.m. on Tue prior to expiration Wed

VA Futures

Trading StateSunMon-ThursFri
Pre-Open5:00 p.m.5:00 p.m. on prior calendar day5:00 p.m. on prior calendar day
Open8:30 a.m.8:30 a.m.
Close3:15 p.m.3:15 p.m.
Close Time for Expiring Instruments3:15 p.m. on day prior to final settlement date

IBIG Futures

Trading StateSunMon-ThursFri
Pre-Open4:00 p.m.4:45 p.m.
Open5:00 p.m.5:00 p.m.
Post-Settlement Start Time3:00 p.m.3:00 p.m.
Close4:00 p.m.4:00 p.m.
Close Time for Expiring Instruments3:00 p.m. on final settlement date
Limit Up/Limit Down Start Time5:00 p.m.3:00 p.m. and 5:00 p.m.3:00 p.m.
Limit Up/Limit Down End Time8:30 a.m. and 4:00 p.m.8:30 a.m. and 4:00 p.m.

IBHY Futures

Trading StateSunMon-ThursFri
Pre-Open4:00 p.m.4:45 p.m.
Open5:00 p.m.5:00 p.m.
Post-Settlement Start Time3:00 p.m.3:00 p.m.
Close4:00 p.m.4:00 p.m.
Close Time for Expiring Instruments3:00 p.m. on final settlement date
Limit Up/Limit Down Start Time5:00 p.m.3:00 p.m. and 5:00 p.m.3:00 p.m.
Limit Up/Limit Down End Time8:30 a.m. and 4:00 p.m.8:30 a.m. and 4:00 p.m.

IEMD Futures

Trading StateSunMon-ThursFri
Pre-Open4:00 p.m.4:45 p.m.
Open5:00 p.m.5:00 p.m.
Post-Settlement Start Time3:00 p.m.3:00 p.m.
Close4:00 p.m.4:00 p.m.
Close Time for Expiring Instruments3:00 p.m. on final settlement date
Limit Up/Limit Down Start Time5:00 p.m.3:00 p.m. and 5:00 p.m.3:00 p.m.
Limit Up/Limit Down End Time8:30 a.m. and 4:00 p.m.8:30 a.m. and 4:00 p.m.

IBYO and IBGO Options on Futures

Trading StateSunMon-ThursFri
Pre-Open5:00 p.m.5:00 p.m.
Open8:30 a.m.8:30 a.m.
Close3:00 p.m.3:00 p.m.

UX Options on Futures

Trading StateSunMon-ThursFri
Pre-Open5:00 p.m.5:00 p.m.
Open8:30 a.m.8:30 a.m.
Close3:00 p.m.3:00 p.m.

These charts include a high level summary of certain trading hours provisions relating to CFE products and are not intended to be a comprehensive description of those provisions. Refer to CFE rules for additional detail.

2025 U.S. Holiday Schedule

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HolidayDateRegular Trading HoursExtended Trading Hours
New Year's DayJanuary 1None5:00 PM (Wed) to 8:30 AM (Thu)
National Day of Mourning (NDoM) - Jimmy CarterJanuary 9None5:00 PM (Wed) to 8:30 AM (Thu) and 5:00 PM (Thu) to 8:30 AM (Fri)
Martin Luther King, Jr. DayJanuary 20None5:00 PM (Sun) to 10:30 AM (Mon) and 5:00 PM (Mon) to 8:30 AM (Tue)
Presidents' DayFebruary 17None5:00 PM (Sun) to 10:30 AM (Mon) and 5:00 PM (Mon) to 8:30 AM (Tue)
Good FridayApril 18NoneNone
Memorial DayMay 26None5:00 PM (Sun) to 10:30 AM (Mon) and 5:00 PM (Mon) to 8:30 AM (Tue)
Juneteenth HolidayJune 19None5:00 PM (Wed) to 10:30 AM (Thu) and 5:00 PM (Thu) to 8:30 AM (Fri)
Independence Day Early CloseJuly 308:30:00 - 12:15:005:00 PM (Wed) to 8:30 AM (Thu)
Independence DayJuly 4NoneNone
Labor DaySeptember 1None5:00 PM (Sun) to 10:30 AM (Mon) and 5:00 PM (Mon) to 8:30 AM (Tue)
Thanksgiving DayNovember 27None5:00 PM (Wed) to 10:30 AM (Thu) and 5:00 PM (Thu) to 8:30 AM (Fri)
Thanksgiving Early CloseNovember 2808:30:00 - 12:15:005:00 PM (Wed) to 10:30 AM (Thu) and 5:00 PM (Thu) to 8:30 AM (Fri)
Christmas Early CloseDecember 2408:30:00 - 12:15:005:00 PM (Tue) to 8:30 AM (Wed)
Christmas DayDecember 25None5:00 PM (Thu) to 8:30 AM (Fri)