The CME Deliveries department administers all aspects of the process of the physical delivery of exchange-traded commodities, such as agricultural commodities and foreign currencies. The department also obtains the final settlement of all cash-settled contracts and provides information about delivery unit procedures, currency banks and access to forms needed.

Delivery Unit Procedures and Currency Banks
Please use the Delivery Procedures for Foreign Currencies and Cross Rate Futures Contracts form and the Buyer's Seller's Currency Delivery Commitment Form and Instructions for currency delivery banks and banks that have signed orders-to-pay agreements with CME’s agent (Bank of America, NTSA).

Submited Special Option Exercise Instructions Report
This report is produced at the 5:00 p.m. CBOT FLEX deadline, 6:00 p.m. CBOT and the 7:00 p.m. CME option exercise submission deadlines and reflects submitted instructions from clearing firms. The actual exercise and assignment process is run later in the evening and results are available to clearing firms.

Expiring Options Process

Automatic Exercise
All options that are "in-the-money" by at least the one tick will be automatically exercised.  "At-the-money" options are considered "out-of-the-money" for exercise and assignment purposes.

Special Exercise Instructions
If a customer instructs their clearing firm to exercise an "out-of-the-money" option or to abandon an "in-the-money" option, this is a "Special Exercise Instruction".

Unless a firm submits a Final Day Do-Not-Exercise Notice to abandon "in-the money" positions, then all the "in-the-money" options are automatically exercised.  "At-the-money" and "out-of-the-money" options are not exercised unless the firm submits a request explicitly instructing the Clearing House to exercise them.

The submission deadlines for the clearing firms for all Exercise and Do-Not-Exercise instructions are 6:00 p.m. for Chicago Board of Trade positions and 7:00 p.m. for CME.