When we first came into contact with futures, we would have many questions about futures. Futures have a delivery month, but sometimes we hear that some futures can enter the delivery month without automatic liquidation, while others are not allowed. So will futures automatically close their positions when they enter the delivery month?

Will futures automatically close their positions when they enter the delivery month?

For investors who are qualified for delivery, positions are allowed to enter the delivery month, and the delivery of commodity futures must be a legal person investor. For individual investors, the regulations of different exchanges are different.

1 Dashangsuo and Zhengshangsuo: Individual customers are not allowed to enter the delivery month. If they still hold positions in the delivery month, they will be forced to close their positions.

The last issue: individual customers can hold positions until the last trading day, but there are restrictions on holding positions.

3 CICC: Individual investors can hold positions until the last trading day, and there is no position limit.

After the delivery, whether investors are allowed to continue to hold positions or make delivery is related to the difficulty of delivery of futures contracts.

Commodity futures are several tons at a time, and there is a minimum delivery limit, so most investors do not have warehousing capacity; Financial futures mainly include stock index futures and treasury bonds futures. Stock index futures are delivered in cash and treasury bonds futures are delivered in kind, but the delivery process is actually to record an account in an individual's treasury bond account.